Vertex, Inc. (NASDAQ:VERX) Holdings Cut by Aquatic Capital Management LLC

Aquatic Capital Management LLC cut its stake in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 60.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,714 shares of the company's stock after selling 37,186 shares during the quarter. Aquatic Capital Management LLC's holdings in Vertex were worth $1,318,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Vertex by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 6,858,981 shares of the company's stock worth $365,927,000 after buying an additional 137,666 shares during the last quarter. Neuberger Berman Group LLC increased its position in Vertex by 1.5% during the 4th quarter. Neuberger Berman Group LLC now owns 3,527,604 shares of the company's stock worth $188,198,000 after purchasing an additional 53,829 shares in the last quarter. FMR LLC raised its stake in Vertex by 25.4% in the 4th quarter. FMR LLC now owns 2,868,438 shares of the company's stock valued at $153,031,000 after purchasing an additional 580,664 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Vertex by 26.0% in the 4th quarter. Franklin Resources Inc. now owns 2,129,099 shares of the company's stock valued at $113,587,000 after purchasing an additional 439,054 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Vertex by 342.5% during the 4th quarter. Invesco Ltd. now owns 1,513,660 shares of the company's stock worth $80,754,000 after purchasing an additional 1,171,576 shares during the last quarter. Hedge funds and other institutional investors own 70.32% of the company's stock.

Vertex Stock Down 1.5 %

Shares of NASDAQ VERX traded down $0.60 during midday trading on Friday, reaching $39.21. 1,938,886 shares of the company's stock were exchanged, compared to its average volume of 1,009,908. 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, Inc. has a 52-week low of $28.04 and a 52-week high of $60.71. The business's fifty day moving average price is $36.44 and its two-hundred day moving average price is $46.26. The stock has a market capitalization of $6.20 billion, a PE ratio of 217.83, a price-to-earnings-growth ratio of 6.66 and a beta of 0.80.

Vertex (NASDAQ:VERX - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.03). Vertex had a net margin of 4.73% and a return on equity of 24.92%. The business had revenue of $178.46 million during the quarter, compared to analyst estimates of $176.90 million. Analysts forecast that Vertex, Inc. will post 0.38 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Bryan T.R. Rowland sold 43,228 shares of Vertex 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 completion of the transaction, the general counsel now owns 132 shares in the company, valued at approximately $4,749.36. This trade represents a 99.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 44.58% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on VERX. Raymond James reaffirmed a "market perform" rating on shares of Vertex in a research note on Friday, January 3rd. BNP Paribas began coverage on Vertex in a research note on Tuesday, April 22nd. They issued an "outperform" rating and a $54.00 target price for the company. Jefferies Financial Group decreased their price target on Vertex from $62.00 to $48.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. DA Davidson reduced their target price on Vertex from $55.00 to $50.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Stifel Nicolaus lowered shares of Vertex from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $58.00 to $31.00 in a research report on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Vertex currently has an average rating of "Moderate Buy" and an average target price of $50.73.

About Vertex

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.