Silvercrest Asset Management Group LLC Decreases Stock Holdings in Vertex, Inc. (NASDAQ:VERX)

Silvercrest Asset Management Group LLC decreased its holdings in Vertex, Inc. (NASDAQ:VERX - Free Report) by 1.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 620,589 shares of the company's stock after selling 8,100 shares during the period. Silvercrest Asset Management Group LLC owned approximately 0.40% of Vertex worth $33,108,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC purchased a new position in Vertex in the 4th quarter worth approximately $38,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of Vertex in the fourth quarter worth approximately $40,000. Plato Investment Management Ltd bought a new position in shares of Vertex in the fourth quarter worth approximately $41,000. Armstrong Advisory Group Inc. purchased a new position in shares of Vertex in the fourth quarter worth $50,000. Finally, Assetmark Inc. bought a new stake in Vertex during the 4th quarter valued at $79,000. Institutional investors own 70.32% of the company's stock.

Insider Buying and Selling

In related news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $35.98, for a total value of $1,555,343.44. Following the sale, the general counsel now owns 132 shares in the company, valued at $4,749.36. This represents a 99.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO David Destefano sold 109,415 shares of Vertex stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $37.70, for a total value of $4,124,945.50. Following the transaction, the chief executive officer now owns 1,066,587 shares of the company's stock, valued at $40,210,329.90. The trade was a 9.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 158,398 shares of company stock valued at $5,898,979 over the last quarter. Corporate insiders own 44.58% of the company's stock.

Vertex Stock Up 1.2%

Shares of NASDAQ VERX traded up $0.46 during mid-day trading on Thursday, hitting $39.03. 228,714 shares of the stock traded hands, compared to its average volume of 1,016,326. The company has a market cap of $6.17 billion, a price-to-earnings ratio of 216.76, a PEG ratio of 6.66 and a beta of 0.78. The stock has a fifty day moving average price of $37.63 and a 200-day moving average price of $45.88. Vertex, Inc. has a 52 week low of $30.26 and a 52 week high of $60.71. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04.

Vertex (NASDAQ:VERX - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. The business had revenue of $177.06 million during the quarter, compared to analyst estimates of $176.99 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The company's revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 earnings per share. Research analysts anticipate that Vertex, Inc. will post 0.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Robert W. Baird cut their price target on shares of Vertex from $62.00 to $45.00 and set an "outperform" rating on the stock in a report on Friday, February 28th. BNP Paribas initiated coverage on Vertex in a research note on Tuesday, April 22nd. They issued an "outperform" rating and a $54.00 target price on the stock. Needham & Company LLC restated a "buy" rating and set a $60.00 price target on shares of Vertex in a report on Thursday, March 20th. Stifel Nicolaus lowered Vertex from a "buy" rating to a "hold" rating and lowered their price target for the company from $58.00 to $31.00 in a research report on Friday, February 28th. Finally, DA Davidson cut their price objective on Vertex from $55.00 to $50.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $50.73.

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.