Vertex, Inc. (NASDAQ:VERX) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co reduced its stake in shares of Vertex, Inc. (NASDAQ:VERX) by 64.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,256 shares of the company’s stock after selling 9,373 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Vertex were worth $280,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Steward Partners Investment Advisory LLC acquired a new position in shares of Vertex during the 4th quarter worth approximately $38,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Vertex during the 4th quarter worth approximately $40,000. Plato Investment Management Ltd acquired a new position in shares of Vertex during the 4th quarter worth approximately $41,000. Armstrong Advisory Group Inc. acquired a new position in shares of Vertex during the 4th quarter worth approximately $50,000. Finally, Assetmark Inc. acquired a new position in shares of Vertex during the 4th quarter worth approximately $79,000. 70.32% of the stock is currently owned by institutional investors and hedge funds.

Vertex Stock Down 0.4 %

Shares of NASDAQ VERX opened at $40.03 on Thursday. The firm has a market cap of $6.33 billion, a price-to-earnings ratio of 222.39, a PEG ratio of 6.66 and a beta of 0.80. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. Vertex, Inc. has a 52-week low of $28.04 and a 52-week high of $60.71. The business’s 50 day moving average is $36.58 and its two-hundred day moving average is $46.28.

Vertex (NASDAQ:VERX) 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). The firm had revenue of $178.46 million during the quarter, compared to analysts’ expectations of $176.90 million. Vertex had a net margin of 4.73% and a return on equity of 24.92%. Research analysts predict that Vertex, Inc. will post 0.38 EPS for the current year.

Wall Street Analyst Weigh In

VERX has been the topic of a number of recent analyst reports. The Goldman Sachs Group decreased their price objective on Vertex from $64.00 to $48.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Raymond James reiterated a “market perform” rating on shares of Vertex in a report on Friday, January 3rd. Morgan Stanley decreased their price objective on Vertex from $60.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. BNP Paribas initiated coverage on Vertex in a report on Tuesday, April 22nd. They issued an “outperform” rating and a $54.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of Vertex in a report on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.73.

Insiders Place Their Bets

In other news, General Counsel Bryan T.R. Rowland sold 43,228 shares of Vertex stock in a transaction dated 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 filing with the SEC, which can be accessed through the SEC website. 44.58% of the stock is owned by company insiders.

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.