Callan Family Office LLC Takes Position in Vertex, Inc. (NASDAQ:VERX)

Callan Family Office LLC bought a new stake in Vertex, Inc. (NASDAQ:VERX) during the 4th quarter, Holdings Channel reports. The fund bought 10,007 shares of the company’s stock, valued at approximately $534,000.

Several other hedge funds also recently modified their holdings of VERX. Advisors Asset Management Inc. boosted its stake in shares of Vertex by 126.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock valued at $37,000 after purchasing an additional 540 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Vertex during the 4th quarter worth about $38,000. Plato Investment Management Ltd acquired a new position in shares of Vertex during the 4th quarter worth about $41,000. Armstrong Advisory Group Inc. acquired a new position in shares of Vertex during the 4th 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.

Insider Transactions at Vertex

In other news, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of Vertex stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $56.48, for a total transaction of $3,041,052.64. Following the sale, the insider now directly owns 1,229,257 shares of the company’s stock, valued at approximately $69,428,435.36. This trade represents a 4.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey Westphal sold 575,000 shares of Vertex stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $53.01, for a total value of $30,480,750.00. Following the sale, the insider now directly owns 7,895 shares in the company, valued at $418,513.95. The trade was a 98.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 845,111 shares of company stock valued at $45,425,193. 44.58% of the stock is currently owned by insiders.

Vertex Price Performance

Shares of NASDAQ:VERX opened at $32.50 on Monday. The stock has a market capitalization of $5.07 billion, a PE ratio of 180.56, a PEG ratio of 6.66 and a beta of 0.87. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29. Vertex, Inc. has a 12 month low of $27.22 and a 12 month high of $60.71. The firm has a 50 day moving average of $50.04 and a 200-day moving average of $46.75.

Vertex (NASDAQ:VERX) last posted its earnings results on Thursday, February 27th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). The company had revenue of $178.46 million during 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%. On average, equities research analysts predict that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Jefferies Financial Group decreased their target price on Vertex from $62.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, February 28th. The Goldman Sachs Group lowered their price target on Vertex from $64.00 to $48.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Raymond James restated a “market perform” rating on shares of Vertex in a report on Friday, January 3rd. DA Davidson dropped their price target on Vertex from $62.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Finally, JMP Securities reissued a “market outperform” rating and issued a $61.00 price objective on shares of Vertex in a report on Monday, December 9th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.00.

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.