Arcadia Investment Management Corp MI Acquires New Shares in Vertex, Inc. (NASDAQ:VERX)

Arcadia Investment Management Corp MI acquired a new stake in Vertex, Inc. (NASDAQ:VERX) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 2,862 shares of the company’s stock, valued at approximately $153,000.

Several other institutional investors and hedge funds have also modified their holdings of VERX. Advisors Asset Management Inc. lifted 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. Armstrong Advisory Group Inc. acquired a new stake in shares of Vertex in the 4th quarter valued at $50,000. KBC Group NV lifted its position in Vertex by 46.1% during the 3rd quarter. KBC Group NV now owns 2,099 shares of the company’s stock worth $81,000 after acquiring an additional 662 shares during the last quarter. Blue Trust Inc. lifted its position in Vertex by 191.1% during the 3rd quarter. Blue Trust Inc. now owns 2,259 shares of the company’s stock worth $81,000 after acquiring an additional 1,483 shares during the last quarter. Finally, Quest Partners LLC lifted its position in Vertex by 344.5% during the 3rd quarter. Quest Partners LLC now owns 4,529 shares of the company’s stock worth $174,000 after acquiring an additional 3,510 shares during the last quarter. Institutional investors and hedge funds own 70.32% of the company’s stock.

Vertex Stock Performance

NASDAQ:VERX opened at $45.44 on Friday. The firm’s 50-day moving average is $53.69 and its 200-day moving average is $46.54. Vertex, Inc. has a 52-week low of $24.17 and a 52-week high of $60.71. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $7.09 billion, a price-to-earnings ratio of 252.44, a PEG ratio of 6.76 and a beta of 0.78.

Analyst Ratings Changes

A number of research analysts have weighed in on VERX shares. DA Davidson started coverage on shares of Vertex in a research report on Tuesday, December 31st. They set a “buy” rating and a $62.00 target price for the company. Robert W. Baird boosted their target price on shares of Vertex from $43.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. JMP Securities reissued a “market outperform” rating and set a $61.00 target price on shares of Vertex in a research report on Monday, December 9th. Raymond James reissued a “market perform” rating on shares of Vertex in a research report on Friday, January 3rd. Finally, Stifel Nicolaus boosted their target price on shares of Vertex from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $55.36.

Insider Activity at Vertex

In related news, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the company’s stock in a transaction dated 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 sale, the insider now 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey Westphal sold 575,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $53.01, for a total transaction of $30,480,750.00. Following the completion of the sale, the insider now directly owns 7,895 shares in the company, valued at approximately $418,513.95. The trade was a 98.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 887,084 shares of company stock valued at $47,736,965 over the last quarter. 44.58% of the stock is owned by company insiders.

Vertex Company Profile

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.