Vertex, Inc. (NASDAQ:VERX) Holdings Decreased by Cannon Global Investment Management LLC

Cannon Global Investment Management LLC lowered its stake in Vertex, Inc. (NASDAQ:VERX) by 29.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 12,704 shares of the company’s stock after selling 5,296 shares during the quarter. Vertex makes up approximately 1.5% of Cannon Global Investment Management LLC’s portfolio, making the stock its 20th largest holding. Cannon Global Investment Management LLC’s holdings in Vertex were worth $678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the stock. Advisors Asset Management Inc. lifted its stake in shares of Vertex by 126.2% in the third quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock worth $37,000 after buying an additional 540 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Vertex during the fourth quarter valued at about $38,000. Plato Investment Management Ltd acquired a new stake in shares of Vertex in the fourth quarter valued at about $41,000. Armstrong Advisory Group Inc. bought a new position in shares of Vertex in the fourth quarter worth about $50,000. Finally, Assetmark Inc. acquired a new position in shares of Vertex during the 4th quarter worth about $79,000. Institutional investors own 70.32% of the company’s stock.

Vertex Stock Down 1.2 %

Shares of VERX opened at $35.71 on Monday. Vertex, Inc. has a 12 month low of $27.22 and a 12 month high of $60.71. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of 198.39, a P/E/G ratio of 6.66 and a beta of 0.87. The company has a 50-day moving average price of $46.33 and a two-hundred day moving average price of $46.52. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29.

Vertex (NASDAQ:VERX) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.03). Vertex had a net margin of 4.73% and a return on equity of 24.92%. The company had revenue of $178.46 million during the quarter, compared to analyst estimates of $176.90 million. Equities analysts predict that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Analyst Ratings Changes

VERX has been the topic of a number of research analyst reports. Stifel Nicolaus lowered Vertex from a “buy” rating to a “hold” rating and lowered their target price for the company from $58.00 to $31.00 in a report on Friday, February 28th. Citigroup raised their price objective on shares of Vertex from $46.00 to $54.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. DA Davidson cut their target price on shares of Vertex from $62.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Robert W. Baird decreased their price target on shares of Vertex from $62.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. Finally, The Goldman Sachs Group cut their price objective on shares of Vertex from $64.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Five 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. Based on data from MarketBeat, Vertex presently has an average rating of “Moderate Buy” and an average target price of $49.82.

Insider Transactions at Vertex

In related news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the firm’s 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. This trade represents a 99.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of Vertex stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $56.48, for a total value of $3,041,052.64. Following the completion of the transaction, the insider now owns 1,229,257 shares of the company’s stock, valued at approximately $69,428,435.36. The trade was a 4.20 % decrease in their position. The disclosure for this sale can be found here. 44.58% of the stock is 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.