RiverPark Advisors LLC Has $409,000 Stock Holdings in Vertex, Inc. (NASDAQ:VERX)

RiverPark Advisors LLC reduced its position in Vertex, Inc. (NASDAQ:VERX) by 16.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 7,672 shares of the company’s stock after selling 1,491 shares during the period. RiverPark Advisors LLC’s holdings in Vertex were worth $409,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in VERX. Fairman Group LLC bought a new stake in Vertex during the 4th quarter worth about $327,000. Empowered Funds LLC acquired a new stake in shares of Vertex during the 4th quarter worth approximately $3,363,000. Triasima Portfolio Management inc. bought a new stake in shares of Vertex during the fourth quarter worth approximately $3,135,000. Principal Financial Group Inc. lifted its holdings in Vertex by 1,100.4% in the fourth quarter. Principal Financial Group Inc. now owns 572,245 shares of the company’s stock valued at $30,530,000 after buying an additional 524,572 shares during the period. Finally, Callan Family Office LLC acquired a new position in Vertex in the fourth quarter valued at approximately $534,000. Institutional investors own 70.32% of the company’s stock.

Vertex Price Performance

Shares of VERX opened at $39.72 on Thursday. The stock has a 50 day simple moving average of $37.20 and a 200 day simple moving average of $46.31. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04. Vertex, Inc. has a 52-week low of $27.96 and a 52-week high of $60.71. The firm has a market capitalization of $6.28 billion, a PE ratio of 220.64, a P/E/G ratio of 6.66 and a beta of 0.80.

Vertex (NASDAQ:VERX) last posted its quarterly earnings data 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 firm had revenue of $178.46 million for the quarter, compared to the consensus estimate of $176.90 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. Sell-side analysts predict that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on VERX shares. Needham & Company LLC reiterated a “buy” rating and set a $60.00 target price on shares of Vertex in a research report on Thursday, March 20th. Robert W. Baird dropped their price objective on Vertex from $62.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, February 28th. Raymond James reissued a “market perform” rating on shares of Vertex in a research note on Friday, January 3rd. Morgan Stanley decreased their target price on Vertex from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Finally, The Goldman Sachs Group cut their price target on shares of Vertex from $64.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.73.

Insider Transactions at Vertex

In other news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $35.98, for a total value of $1,555,343.44. Following the completion of the transaction, the general counsel now owns 132 shares in the company, valued at $4,749.36. This trade represents a 99.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 44.58% of the stock is currently owned by 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.