Pembroke Management LTD Reduces Stock Holdings in Vertex, Inc. (NASDAQ:VERX)

Pembroke Management LTD reduced its position in Vertex, Inc. (NASDAQ:VERX) by 2.6% during the third quarter, Holdings Channel reports. The institutional investor owned 822,401 shares of the company’s stock after selling 22,218 shares during the quarter. Vertex comprises 4.1% of Pembroke Management LTD’s investment portfolio, making the stock its 6th largest holding. Pembroke Management LTD’s holdings in Vertex were worth $31,671,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. acquired a new position in Vertex during the 2nd quarter valued at approximately $28,000. Quest Partners LLC acquired a new position in shares of Vertex in the 2nd quarter valued at $37,000. Canada Pension Plan Investment Board purchased a new position in Vertex in the 2nd quarter worth $40,000. Amalgamated Bank acquired a new stake in Vertex during the 2nd quarter worth about $68,000. Finally, Sandia Investment Management LP purchased a new stake in Vertex during the 1st quarter valued at about $159,000. 59.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on VERX shares. Robert W. Baird started coverage on Vertex in a report on Tuesday, July 23rd. They set an “outperform” rating and a $43.00 target price for the company. JMP Securities raised their price target on shares of Vertex from $42.00 to $47.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 31st. Finally, Baird R W raised shares of Vertex to a “strong-buy” rating in a report on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.30.

Insider Buying and Selling

In other Vertex news, insider Item Second Irr. Trust Fbo Jac sold 56,419 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $40.77, for a total value of $2,300,202.63. Following the sale, the insider now directly owns 932,706 shares of the company’s stock, valued at approximately $38,026,423.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Vertex news, insider Item Second Irr. Trust Fbo Jac sold 56,419 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $40.77, for a total transaction of $2,300,202.63. Following the transaction, the insider now directly owns 932,706 shares of the company’s stock, valued at $38,026,423.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 158,900 shares of Vertex stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $37.27, for a total transaction of $5,922,203.00. Following the completion of the sale, the insider now owns 1,430,100 shares in the company, valued at approximately $53,299,827. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,629,244 shares of company stock valued at $64,039,589. 44.58% of the stock is owned by company insiders.

Vertex Stock Performance

VERX opened at $42.17 on Friday. The firm has a fifty day moving average price of $39.16 and a 200 day moving average price of $36.00. Vertex, Inc. has a 1 year low of $21.92 and a 1 year high of $43.33. The stock has a market cap of $6.56 billion, a P/E ratio of 351.42, a P/E/G ratio of 11.86 and a beta of 0.67. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.17 and a quick ratio of 1.17.

Vertex (NASDAQ:VERX) last issued 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. Vertex had a net margin of 3.20% and a return on equity of 22.32%. The business had revenue of $161.10 million during the quarter, compared to the consensus estimate of $160.66 million. During the same quarter in the prior year, the firm posted $0.04 earnings per share. The company’s revenue was up 15.3% compared to the same quarter last year. Equities research analysts anticipate that Vertex, Inc. will post 0.34 earnings per share for the current year.

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.