Vertex, Inc. (NASDAQ:VERX) Stake Cut by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC cut its stake in Vertex, Inc. (NASDAQ:VERX - Free Report) by 6.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,356,325 shares of the company's stock after selling 88,605 shares during the period. TimesSquare Capital Management LLC owned 0.89% of Vertex worth $36,539,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its holdings in Vertex by 2.0% during the third quarter. Bank of New York Mellon Corp now owns 34,526 shares of the company's stock worth $798,000 after purchasing an additional 673 shares in the last quarter. RiverPark Advisors LLC grew its holdings in shares of Vertex by 28.4% during the 4th quarter. RiverPark Advisors LLC now owns 3,319 shares of the company's stock valued at $89,000 after acquiring an additional 735 shares in the last quarter. Sterling Investment Advisors Ltd. lifted its stake in shares of Vertex by 2.6% in the 3rd quarter. Sterling Investment Advisors Ltd. now owns 33,067 shares of the company's stock valued at $764,000 after purchasing an additional 852 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Vertex by 15.2% in the 3rd quarter. Arizona State Retirement System now owns 13,802 shares of the company's stock valued at $319,000 after purchasing an additional 1,822 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Vertex in the 3rd quarter valued at $49,000. 59.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director John Richard Stamm sold 6,500 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.48, for a total transaction of $191,620.00. Following the sale, the director now directly owns 15,930 shares of the company's stock, valued at $469,616.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Lisa Butler sold 8,290 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $29.63, for a total value of $245,632.70. Following the transaction, the chief accounting officer now directly owns 250 shares in the company, valued at $7,407.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Richard Stamm sold 6,500 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.48, for a total transaction of $191,620.00. Following the completion of the transaction, the director now owns 15,930 shares in the company, valued at $469,616.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,161,048 shares of company stock valued at $35,034,678. 45.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on VERX shares. The Goldman Sachs Group lifted their price objective on shares of Vertex from $33.00 to $39.00 and gave the company a "buy" rating in a research note on Friday, March 1st. Needham & Company LLC reissued a "buy" rating and set a $45.00 target price on shares of Vertex in a research report on Monday. Jefferies Financial Group boosted their target price on shares of Vertex from $27.00 to $35.00 and gave the stock a "hold" rating in a research report on Friday, March 1st. BMO Capital Markets upped their price objective on shares of Vertex from $30.00 to $35.00 and gave the company a "market perform" rating in a research report on Friday, March 1st. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $42.00 price objective on shares of Vertex in a research report on Tuesday, April 23rd. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $35.67.

Vertex Price Performance

NASDAQ VERX traded down $0.23 on Wednesday, reaching $29.92. The company's stock had a trading volume of 1,164,056 shares, compared to its average volume of 656,969. The firm has a market cap of $4.62 billion, a PE ratio of -299.20, a price-to-earnings-growth ratio of 7.54 and a beta of 0.65. The business has a 50-day moving average price of $30.35 and a 200 day moving average price of $27.41. Vertex, Inc. has a 52 week low of $17.59 and a 52 week high of $35.38. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.17.

Vertex (NASDAQ:VERX - Get Free Report) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02. The firm had revenue of $154.91 million for the quarter, compared to analysts' expectations of $146.44 million. Vertex had a negative net margin of 2.29% and a positive return on equity of 16.15%. Sell-side analysts expect that Vertex, Inc. will post 0.36 EPS for the current year.

Vertex Profile

Vertex, Inc, together with its subsidiaries, provides enterprise tax technology solutions for retail trade, wholesale trade, and manufacturing industries in the United States and internationally. The company offers tax determination; compliance and reporting, including workflow management tools, role-based security, and event logging; tax data management; document management; analytics and insights; pre-built integration that includes mapping data fields, and business logic and configurations; industry-specific solutions; and technology specific solutions, such as chain flow accelerator and SAP-specific tools.

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