Arcadia Investment Management Corp MI Makes New $153,000 Investment in Vertex, Inc. (NASDAQ:VERX)

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

Several other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in Vertex by 11.4% during the fourth quarter. Blue Trust Inc. now owns 2,516 shares of the company’s stock worth $134,000 after buying an additional 257 shares during the last quarter. Sheets Smith Wealth Management grew its stake in Vertex by 2.2% during the fourth quarter. Sheets Smith Wealth Management now owns 15,099 shares of the company’s stock worth $806,000 after buying an additional 324 shares during the last quarter. Verdence Capital Advisors LLC lifted its position in shares of Vertex by 6.1% during the third quarter. Verdence Capital Advisors LLC now owns 8,313 shares of the company’s stock worth $320,000 after purchasing an additional 477 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Vertex by 126.2% during the third quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock worth $37,000 after purchasing an additional 540 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Vertex by 27.1% during the fourth quarter. KBC Group NV now owns 2,668 shares of the company’s stock worth $142,000 after purchasing an additional 569 shares in the last quarter. 70.32% of the stock is owned by institutional investors.

Vertex Trading Down 1.5 %

Shares of NASDAQ VERX opened at $45.44 on Friday. The company’s 50 day simple moving average is $53.69 and its 200 day simple moving average is $46.54. Vertex, Inc. has a fifty-two week low of $24.17 and a fifty-two week high of $60.71. The firm has a market capitalization of $7.09 billion, a P/E ratio of 252.44, a P/E/G ratio of 6.76 and a beta of 0.78. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04.

Insider Buying and Selling at Vertex

In other Vertex news, General Counsel Bryan T.R. Rowland sold 3,020 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $55.08, for a total value of $166,341.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey Westphal sold 575,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $418,513.95. The trade was a 98.65 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 887,084 shares of company stock valued at $47,736,965. Corporate insiders own 44.58% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on VERX shares. Stifel Nicolaus upped 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. Citigroup upped their target price on shares of Vertex from $46.00 to $54.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Robert W. Baird upped 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. Raymond James reiterated a “market perform” rating on shares of Vertex in a research report on Friday, January 3rd. Finally, JMP Securities reiterated a “market outperform” rating and set a $61.00 target price on shares of Vertex in a research report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.36.

Vertex 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.