CANADA LIFE ASSURANCE Co Has $280,000 Stock Holdings in Vertex, Inc. (NASDAQ:VERX)

CANADA LIFE ASSURANCE Co lowered its stake in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 64.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,256 shares of the company's stock after selling 9,373 shares during the quarter. CANADA LIFE ASSURANCE Co's holdings in Vertex were worth $280,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in VERX. Steward Partners Investment Advisory LLC purchased a new position in Vertex in the 4th quarter valued at approximately $38,000. Mark Sheptoff Financial Planning LLC acquired a new stake in Vertex in the 4th quarter valued at about $40,000. Plato Investment Management Ltd acquired a new position in Vertex during the fourth quarter worth about $41,000. Armstrong Advisory Group Inc. purchased a new stake in shares of Vertex in the fourth quarter valued at about $50,000. Finally, Assetmark Inc. purchased a new stake in shares of Vertex in the fourth quarter valued at about $79,000. 70.32% of the stock is owned by institutional investors and hedge funds.

Vertex Trading Up 0.0 %

Shares of NASDAQ:VERX traded up $0.00 during mid-day trading on Tuesday, hitting $38.99. The stock had a trading volume of 103,000 shares, compared to its average volume of 1,007,010. 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 12-month low of $28.04 and a 12-month high of $60.71. The company's 50 day moving average is $36.36 and its 200-day moving average is $46.28. The company has a market cap of $6.17 billion, a PE ratio of 216.53, a P/E/G ratio of 6.66 and a beta of 0.78.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group reduced their target price on Vertex from $64.00 to $48.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. DA Davidson cut their target price on shares of Vertex from $55.00 to $50.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Jefferies Financial Group lowered their price target on shares of Vertex from $62.00 to $48.00 and set a "buy" rating for the company in a report on Friday, February 28th. Robert W. Baird reduced their price objective on shares of Vertex from $62.00 to $45.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. Finally, Stifel Nicolaus downgraded Vertex from a "buy" rating to a "hold" rating and cut their price target for the company from $58.00 to $31.00 in a report on Friday, February 28th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $50.73.

Insider Activity at Vertex

In other news, General Counsel Bryan T.R. Rowland sold 43,228 shares of Vertex stock in a transaction 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 sale, the general counsel now directly owns 132 shares of the company's stock, valued at approximately $4,749.36. This trade represents a 99.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 44.58% of the stock is currently owned by corporate insiders.

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.