Dynamic Technology Lab Private Ltd Lowers Stake in Vertex, Inc. (NASDAQ:VERX)

Dynamic Technology Lab Private Ltd reduced its stake in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 72.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,020 shares of the company's stock after selling 13,083 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Vertex were worth $268,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Steward Partners Investment Advisory LLC bought a new position in Vertex during the 4th quarter worth approximately $38,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Vertex during the fourth quarter valued at 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. bought a new position in shares of Vertex in the fourth quarter worth approximately $50,000. Finally, Assetmark Inc. purchased a new position in shares of Vertex in the fourth quarter worth $79,000. Hedge funds and other institutional investors own 70.32% of the company's stock.

Vertex Stock Down 0.1 %

Vertex stock traded down $0.03 during mid-day trading on Wednesday, reaching $39.70. The stock had a trading volume of 103,610 shares, compared to its average volume of 1,022,067. The company has a 50-day moving average price of $38.67 and a two-hundred day moving average price of $46.40. The company has a market capitalization of $6.28 billion, a price-to-earnings ratio of 219.75, a PEG ratio of 6.66 and a beta of 0.80. Vertex, Inc. has a one year low of $27.22 and a one year high of $60.71. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04.

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

Insider Activity

In other Vertex news, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of Vertex stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $56.48, for a total value of $3,041,052.64. Following the completion of the sale, the insider now owns 1,229,257 shares of the company's stock, valued at approximately $69,428,435.36. The trade was a 4.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Bryan T.R. Rowland sold 43,228 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $35.98, for a total transaction of $1,555,343.44. Following the sale, the general counsel now owns 132 shares of the company's stock, valued at approximately $4,749.36. This represents a 99.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 44.58% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group cut their price target on shares of Vertex from $64.00 to $48.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Raymond James reissued a "market perform" rating on shares of Vertex in a research note on Friday, January 3rd. Robert W. Baird lowered their price target on Vertex from $62.00 to $45.00 and set an "outperform" rating for the company in a research report on Friday, February 28th. Stifel Nicolaus lowered Vertex from a "buy" rating to a "hold" rating and cut their price objective for the stock from $58.00 to $31.00 in a research report on Friday, February 28th. Finally, Needham & Company LLC restated a "buy" rating and set a $60.00 target price on shares of Vertex in a report on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $49.36.

Vertex Company 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.