Vertex, Inc. (NASDAQ:VERX) is Pembroke Management LTD’s 3rd Largest Position

Pembroke Management LTD cut its holdings in Vertex, Inc. (NASDAQ:VERX) by 11.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 729,361 shares of the company’s stock after selling 93,040 shares during the period. Vertex makes up 5.0% of Pembroke Management LTD’s portfolio, making the stock its 3rd largest position. Pembroke Management LTD’s holdings in Vertex were worth $38,911,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in shares of Vertex by 406.9% during the 3rd 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 during the last quarter. Fairman Group LLC bought a new stake in Vertex during the fourth quarter valued at about $327,000. Empowered Funds LLC purchased a new stake in Vertex in the 4th quarter worth approximately $3,363,000. DRW Securities LLC purchased a new position in shares of Vertex during the 3rd quarter valued at $840,000. Finally, Triasima Portfolio Management inc. bought a new position in shares of Vertex in the fourth quarter worth about $3,135,000. 70.32% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Trading Up 2.2 %

NASDAQ:VERX opened at $46.51 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. The stock has a fifty day simple moving average of $54.19 and a 200-day simple moving average of $46.48. Vertex, Inc. has a 52-week low of $24.17 and a 52-week high of $60.71. The company has a market capitalization of $7.25 billion, a PE ratio of 258.39, a price-to-earnings-growth ratio of 8.49 and a beta of 0.78.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VERX. DA Davidson started coverage on Vertex in a report on Tuesday, December 31st. They set a “buy” rating and a $62.00 price objective on the stock. The Goldman Sachs Group boosted their price objective on Vertex from $42.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Stifel Nicolaus raised their target price on shares of Vertex from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Needham & Company LLC upped their price objective on shares of Vertex from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, BMO Capital Markets upped their price objective on Vertex from $42.00 to $52.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Vertex has a consensus rating of “Moderate Buy” and a consensus target price of $55.36.

Insider Transactions at Vertex

In other news, CEO David Destefano sold 25,607 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $55.05, for a total value of $1,409,665.35. Following the transaction, the chief executive officer now directly owns 221,932 shares in the company, valued at $12,217,356.60. This trade represents a 10.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeffrey Westphal sold 575,000 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was 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 approximately $418,513.95. This trade represents a 98.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 930,550 shares of company stock valued at $50,008,277 in the last ninety days. Corporate insiders own 44.58% of the company’s stock.

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.