EntryPoint Capital LLC Buys Shares of 3,760 Vertex, Inc. (NASDAQ:VERX)

EntryPoint Capital LLC purchased a new position in shares of Vertex, Inc. (NASDAQ:VERX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,760 shares of the company’s stock, valued at approximately $201,000.

Other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. raised its holdings in Vertex by 126.2% during the third quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock worth $37,000 after purchasing an additional 540 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Vertex in the third quarter valued at $448,000. Charles Schwab Investment Management Inc. raised its stake in shares of Vertex by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 432,068 shares of the company’s stock worth $16,639,000 after buying an additional 23,086 shares during the last quarter. FMR LLC boosted its position in shares of Vertex by 2.5% in the 3rd quarter. FMR LLC now owns 2,287,774 shares of the company’s stock worth $88,102,000 after buying an additional 54,985 shares in the last quarter. Finally, Quantbot Technologies LP grew its stake in Vertex by 119,107.3% in the 3rd quarter. Quantbot Technologies LP now owns 48,875 shares of the company’s stock valued at $1,882,000 after acquiring an additional 48,834 shares during the last quarter. Hedge funds and other institutional investors own 70.32% of the company’s stock.

Wall Street Analyst Weigh In

VERX has been the topic of several recent research reports. DA Davidson reduced their price target on shares of Vertex from $62.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Citigroup lifted their price objective on Vertex from $46.00 to $54.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Morgan Stanley increased their target price on Vertex from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Stifel Nicolaus cut Vertex from a “buy” rating to a “hold” rating and cut their price target for the stock from $58.00 to $31.00 in a report on Friday, February 28th. Finally, Raymond James restated a “market perform” rating on shares of Vertex in a research report on Friday, January 3rd. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.82.

Vertex Trading Down 0.9 %

Shares of VERX stock opened at $35.55 on Friday. The firm’s 50-day simple moving average is $44.43 and its 200-day simple moving average is $46.44. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04. Vertex, Inc. has a 1-year low of $27.22 and a 1-year high of $60.71. The firm has a market cap of $5.62 billion, a P/E ratio of 197.50, a PEG ratio of 6.66 and a beta of 0.87.

Vertex (NASDAQ:VERX) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). Vertex had a return on equity of 24.92% and a net margin of 4.73%. The company had revenue of $178.46 million for the quarter, compared to analysts’ expectations of $176.90 million. As a group, equities analysts forecast that Vertex, Inc. will post 0.38 EPS for the current year.

Insider Buying and Selling at Vertex

In other Vertex news, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of Vertex stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $56.48, for a total transaction of $3,041,052.64. Following the transaction, the insider now directly owns 1,229,257 shares of the company’s stock, valued at $69,428,435.36. The trade was a 4.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Bryan T.R. Rowland sold 43,228 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $35.98, for a total transaction of $1,555,343.44. Following the completion of the sale, the general counsel now directly owns 132 shares of the company’s stock, valued at $4,749.36. The trade was a 99.70 % decrease in their position. The disclosure for this sale can be found here. 44.58% of the stock is owned by company insiders.

About Vertex

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.