Vertex, Inc. (NASDAQ:VERX) Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC cut its stake in Vertex, Inc. (NASDAQ:VERXGet Rating) by 2.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 3,333,875 shares of the company’s stock after selling 89,508 shares during the period. Neuberger Berman Group LLC’s holdings in Vertex were worth $51,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of VERX. TimesSquare Capital Management LLC increased its holdings in shares of Vertex by 26.6% during the first quarter. TimesSquare Capital Management LLC now owns 1,321,104 shares of the company’s stock valued at $20,266,000 after purchasing an additional 277,200 shares during the period. Washington Harbour Partners LP acquired a new position in Vertex during the fourth quarter worth about $4,311,000. Palisade Capital Management LLC NJ grew its holdings in Vertex by 47.7% during the first quarter. Palisade Capital Management LLC NJ now owns 780,038 shares of the company’s stock worth $11,966,000 after acquiring an additional 251,756 shares during the period. New York State Common Retirement Fund boosted its position in shares of Vertex by 57.9% in the 1st quarter. New York State Common Retirement Fund now owns 197,171 shares of the company’s stock valued at $3,025,000 after purchasing an additional 72,271 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Vertex by 133.5% in the 1st quarter. Renaissance Technologies LLC now owns 117,200 shares of the company’s stock valued at $1,798,000 after purchasing an additional 67,000 shares during the period. 20.97% of the stock is owned by institutional investors and hedge funds.

Vertex Price Performance

Shares of NASDAQ:VERX opened at $13.98 on Monday. Vertex, Inc. has a 1-year low of $9.44 and a 1-year high of $22.28. The firm has a market capitalization of $2.09 billion, a PE ratio of -199.69, a PEG ratio of 48.95 and a beta of 0.37. The business’s 50 day moving average is $12.62 and its 200-day moving average is $12.80. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22.

Vertex (NASDAQ:VERXGet Rating) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.02 by $0.02. The business had revenue of $119.28 million for the quarter, compared to analyst estimates of $116.79 million. Vertex had a positive return on equity of 12.50% and a negative net margin of 2.28%. Vertex’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.05 EPS. Sell-side analysts predict that Vertex, Inc. will post 0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

VERX has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price target on Vertex from $12.00 to $10.00 and set an “underweight” rating for the company in a research report on Thursday, July 14th. Jefferies Financial Group decreased their price objective on Vertex from $14.50 to $13.50 in a research report on Monday, May 23rd. William Blair reaffirmed an “outperform” rating on shares of Vertex in a research note on Tuesday, August 9th. Finally, Citigroup started coverage on Vertex in a research note on Thursday, September 1st. They set a “neutral” rating and a $15.00 price target for the company. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $17.21.

Insiders Place Their Bets

In other Vertex news, major shareholder Jeffery Westphal sold 6,723 shares of the business’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $12.03, for a total value of $80,877.69. Following the transaction, the insider now owns 1,442,842 shares of the company’s stock, valued at $17,357,389.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, major shareholder Jeffery Westphal sold 6,723 shares of the company’s stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $12.03, for a total value of $80,877.69. Following the completion of the sale, the insider now owns 1,442,842 shares in the company, valued at $17,357,389.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lisa Butler sold 47,793 shares of the business’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $14.61, for a total value of $698,255.73. Following the completion of the transaction, the chief accounting officer now directly owns 3,144 shares of the company’s stock, valued at $45,933.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,274,078 shares of company stock valued at $40,017,358. 46.12% of the stock is currently owned by corporate insiders.

About Vertex

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Vertex, Inc provides tax technology solutions for corporations in retail, communication, leasing, and manufacturing industries in the United States and internationally. It offers tax determination, compliance and reporting, tax data management, document management, pre-built integration, and industry-specific solutions.

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Want to see what other hedge funds are holding VERX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertex, Inc. (NASDAQ:VERXGet Rating).

Institutional Ownership by Quarter for Vertex (NASDAQ:VERX)

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