Pembroke Management LTD Lowers Stake in Vertex, Inc. (NASDAQ:VERX)

Pembroke Management LTD trimmed its position in shares of Vertex, Inc. (NASDAQ:VERX) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 822,401 shares of the company’s stock after selling 22,218 shares during the period. Vertex accounts for approximately 4.1% of Pembroke Management LTD’s portfolio, making the stock its 6th largest holding. Pembroke Management LTD owned 0.53% of Vertex worth $31,671,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Banque Pictet & Cie SA grew its stake in shares of Vertex by 551.9% during the 2nd quarter. Banque Pictet & Cie SA now owns 949,540 shares of the company’s stock worth $34,231,000 after acquiring an additional 803,881 shares during the period. Driehaus Capital Management LLC bought a new position in Vertex during the second quarter worth about $22,173,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Vertex in the first quarter worth about $12,043,000. Mizuho Markets Americas LLC bought a new stake in shares of Vertex in the second quarter valued at approximately $12,402,000. Finally, Banco Santander S.A. purchased a new stake in shares of Vertex during the 2nd quarter valued at approximately $10,738,000. 59.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VERX has been the subject of a number of recent research reports. Robert W. Baird assumed coverage on shares of Vertex in a research note on Tuesday, July 23rd. They issued an “outperform” rating and a $43.00 price objective for the company. JMP Securities boosted their price objective on Vertex from $42.00 to $47.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 31st. Finally, Baird R W raised Vertex to a “strong-buy” rating in a report on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.30.

Insider Activity at Vertex

In related news, insider Item Second Irr. Trust Fbo Jac sold 49,114 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $41.31, for a total value of $2,028,899.34. Following the completion of the transaction, the insider now owns 1,067,852 shares of the company’s stock, valued at approximately $44,112,966.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO John R. Schwab sold 25,000 shares of Vertex stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $35.81, for a total value of $895,250.00. Following the completion of the transaction, the chief financial officer now owns 53,104 shares in the company, valued at approximately $1,901,654.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Item Second Irr. Trust Fbo Jac sold 49,114 shares of Vertex stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $41.31, for a total transaction of $2,028,899.34. Following the transaction, the insider now directly owns 1,067,852 shares of the company’s stock, valued at $44,112,966.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,629,244 shares of company stock worth $64,039,589. Corporate insiders own 44.58% of the company’s stock.

Vertex Price Performance

VERX opened at $42.17 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.43. The stock has a fifty day simple moving average of $39.16 and a two-hundred day simple moving average of $36.00. The company has a market cap of $6.56 billion, a price-to-earnings ratio of 351.42, a price-to-earnings-growth ratio of 11.86 and a beta of 0.67. Vertex, Inc. has a 12-month low of $21.92 and a 12-month high of $43.33.

Vertex (NASDAQ:VERX) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The company had revenue of $161.10 million during the quarter, compared to analyst estimates of $160.66 million. Vertex had a net margin of 3.20% and a return on equity of 22.32%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.04 EPS. Research analysts predict that Vertex, Inc. will post 0.34 earnings per share for the current fiscal 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.