Vertex, Inc. (NASDAQ:VERX) Stock Holdings Lessened by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC cut its position in Vertex, Inc. (NASDAQ:VERX) by 9.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,149,104 shares of the company’s stock after selling 113,288 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Vertex were worth $25,257,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of VERX. JPMorgan Chase & Co. lifted its position in Vertex by 191.6% in the 4th quarter. JPMorgan Chase & Co. now owns 1,722,514 shares of the company’s stock valued at $60,029,000 after purchasing an additional 1,131,803 shares during the last quarter. Conestoga Capital Advisors LLC lifted its position in Vertex by 24.1% in the 1st quarter. Conestoga Capital Advisors LLC now owns 3,191,995 shares of the company’s stock valued at $70,160,000 after purchasing an additional 619,835 shares during the last quarter. William Blair Investment Management LLC bought a new stake in Vertex in the 4th quarter valued at about $16,656,000. Segantii Capital Management Ltd bought a new stake in Vertex in the 1st quarter valued at about $6,594,000. Finally, Washington Harbour Partners LP bought a new stake in Vertex in the 4th quarter valued at about $7,319,000. Hedge funds and other institutional investors own 17.69% of the company’s stock.

In other news, Director Eric C. Andersen sold 21,317 shares of Vertex stock in a transaction that occurred on Monday, June 7th. The shares were sold at an average price of $18.35, for a total value of $391,166.95. Following the transaction, the director now owns 88,494 shares of the company’s stock, valued at approximately $1,623,864.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 67.26% of the company’s stock.

VERX has been the topic of several recent research reports. Citigroup cut their price objective on shares of Vertex from $35.00 to $33.00 in a research report on Friday, March 5th. Morgan Stanley lowered their target price on shares of Vertex from $18.00 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, May 14th. Finally, The Goldman Sachs Group cut shares of Vertex from a “neutral” rating to a “sell” rating and lowered their target price for the company from $24.00 to $18.00 in a research note on Thursday, June 3rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Vertex presently has a consensus rating of “Hold” and a consensus target price of $30.45.

Shares of VERX opened at $18.83 on Friday. The stock has a 50 day simple moving average of $20.10. The firm has a market cap of $2.78 billion and a PE ratio of -49.55. Vertex, Inc. has a 12-month low of $16.06 and a 12-month high of $39.71.

Vertex (NASDAQ:VERX) last announced its quarterly earnings data on Thursday, May 13th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.02. The company had revenue of $98.20 million for the quarter, compared to analysts’ expectations of $95.55 million. Vertex had a negative net margin of 12.40% and a negative return on equity of 64.84%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Vertex, Inc. will post 0.15 earnings per share for the current year.

Vertex Profile

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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Institutional Ownership by Quarter for Vertex (NASDAQ:VERX)

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