Geneva Capital Management LLC Reduces Position in Vertex, Inc. (NASDAQ:VERX)

Geneva Capital Management LLC lessened its stake in shares of Vertex, Inc. (NASDAQ:VERX) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,437,588 shares of the company’s stock after selling 13,011 shares during the period. Vertex accounts for about 1.3% of Geneva Capital Management LLC’s investment portfolio, making the stock its 27th biggest holding. Geneva Capital Management LLC’s holdings in Vertex were worth $76,695,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of VERX. Harbor Capital Advisors Inc. raised its stake in shares of Vertex by 13.5% during the third quarter. Harbor Capital Advisors Inc. now owns 9,788 shares of the company’s stock valued at $377,000 after acquiring an additional 1,168 shares in the last quarter. Verdence Capital Advisors LLC raised its stake in shares of Vertex by 6.1% during the third quarter. Verdence Capital Advisors LLC now owns 8,313 shares of the company’s stock valued at $320,000 after acquiring an additional 477 shares in the last quarter. Sigma Planning Corp bought a new stake in shares of Vertex during the third quarter valued at approximately $365,000. Victory Capital Management Inc. raised its stake in shares of Vertex by 406.9% during the third quarter. Victory Capital Management Inc. now owns 34,386 shares of the company’s stock valued at $1,324,000 after acquiring an additional 27,602 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Vertex by 46.1% during the third quarter. KBC Group NV now owns 2,099 shares of the company’s stock valued at $81,000 after acquiring an additional 662 shares in the last quarter. Institutional investors own 70.32% of the company’s stock.

Insider Activity

In other news, insider Jeffrey Westphal sold 575,000 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $53.01, for a total transaction of $30,480,750.00. Following the sale, the insider now directly owns 7,895 shares of the company’s stock, valued at $418,513.95. The trade was a 98.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 13,346 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $55.13, for a total transaction of $735,764.98. Following the sale, the insider now directly owns 1,344,754 shares in the company, valued at $74,136,288.02. This trade represents a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 858,457 shares of company stock valued at $46,160,958 over the last ninety days. 44.58% of the stock is currently owned by insiders.

Vertex Stock Performance

Shares of VERX stock opened at $33.04 on Thursday. The business’s fifty day simple moving average is $51.25 and its 200-day simple moving average is $46.81. The company has a market cap of $5.15 billion, a PE ratio of 183.56, a PEG ratio of 6.66 and a beta of 0.87. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29. Vertex, Inc. has a 12-month low of $27.22 and a 12-month high of $60.71.

Vertex (NASDAQ:VERX) last issued its quarterly 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 business had revenue of $178.46 million for the quarter, compared to analyst estimates of $176.90 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. Analysts expect that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

VERX has been the subject of several research analyst reports. Jefferies Financial Group decreased their price target on shares of Vertex from $62.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, February 28th. The Goldman Sachs Group reduced their price objective on shares of Vertex from $64.00 to $48.00 and set a “buy” rating for the company in a research note on Monday. Robert W. Baird reduced their price objective on shares of Vertex from $62.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. BMO Capital Markets boosted their price objective on shares of Vertex from $42.00 to $52.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley boosted their price objective on shares of Vertex from $50.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $50.00.

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.