VERTEX INC VERX
CL A · Common Stock · CUSIP 92538J106 · ISIN US92538J1060
Annuity software and business consulting company
- SectorTechnology
- IndustryServices-Prepackaged Software
- HeadquartersKing Of Prussia, PA
- Founded1991
- Websitevertexincorporated.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($1.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $19.97. Options: 8 managers hold calls ($77.0m notional), 5 hold puts ($710.9k).
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 82 |
| Q4 2022 | 102 |
| Q1 2023 | 130 |
| Q2 2023 | 122 |
| Q3 2023 | 121 |
| Q4 2023 | 145 |
| Q1 2024 | 177 |
| Q2 2024 | 205 |
| Q3 2024 | 220 |
| Q4 2024 | 255 |
| Q1 2025 | 265 |
| Q2 2025 | 271 |
| Q3 2025 | 240 |
| Q4 2025 | 221 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2024 | 107 | 62 |
| Q2 2024 | 129 | 87 |
| Q3 2024 | 126 | 90 |
| Q4 2024 | 140 | 100 |
| Q1 2025 | 166 | 123 |
| Q2 2025 | 169 | 118 |
| Q3 2025 | 118 | 156 |
| Q4 2025 | 109 | 136 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $106.4m | $1.2m | 0.01 |
| Q2 2025 | $105.1m | $501.2k | 0.00 |
| Q3 2025 | $98.7m | $375.9k | 0.00 |
| Q4 2025 | $77.0m | $710.9k | 0.01 |
Biggest buyers
| UBS Group AG | Added | +3.8m |
| NOMURA HOLDINGS INC | Added | +3.2m |
| CITIGROUP INC | Added | +811.0k |
| CITADEL ADVISORS LLC | Added | +789.4k |
| GOLDMAN SACHS GROUP INC | Added | +657.4k |
| BARCLAYS PLC | Added | +624.1k |
| Park West Asset Management LLC | Added | +583.4k |
| PRINCIPAL FINANCIAL GROUP INC | Added | +442.2k |
| BANK OF AMERICA CORP /DE/ | Added | +414.1k |
| JANE STREET GROUP, LLC | Added | +394.5k |
Biggest sellers
| WASATCH ADVISORS LP | Sold out | -2.7m |
| JPMORGAN CHASE & CO | Reduced | -1.9m |
| Champlain Investment Partners, LLC | Reduced | -1.3m |
| ShawSpring Partners LLC | Sold out | -1.1m |
| FRANKLIN RESOURCES INC | Reduced | -1.0m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Reduced | -869.6k |
| Aperture Investors, LLC | Sold out | -752.4k |
| Artisan Partners Limited Partnership | Sold out | -728.5k |
| BROWN CAPITAL MANAGEMENT LLC | Reduced | -692.3k |
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -621.4k |
Biggest calls
| UBS Group AG | Unchanged | $56.9m2.8m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $8.7m435.8k shares |
| JANE STREET GROUP, LLC | Added | $5.3m266.6k shares |
| Caption Management, LLC | Unchanged | $3.0m150.0k shares |
| CITADEL ADVISORS LLC | Reduced | $1.3m64.5k shares |
| SIMPLEX TRADING, LLC | Added | $784.8k39.3k shares |
| Walleye Trading LLC | Added | $631.1k31.6k shares |
| GROUP ONE TRADING LLC | Reduced | $329.5k16.5k shares |
Biggest puts
| CITADEL ADVISORS LLC | New | $361.5k18.1k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $315.5k15.8k shares |
| Walleye Trading LLC | Added | $22.0k1.1k shares |
| GROUP ONE TRADING LLC | Reduced | $6.0k300 shares |
| SIMPLEX TRADING, LLC | Reduced | $6.0k300 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| Radcliffe Amanda Westphal 13G · exempt (held before listing) -0.3 pts · filed 2025-08-13 | 20.9% |
| BlackRock, Inc. 13G · institution +1.1 pts · filed 2026-01-21 | 7.2% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 6.2% |
| MORGAN STANLEY 13G · institution new · filed 2026-05-12 | 5.3% |
Fell to 5% or below in the last year: Tensile Capital Management LP (4.4%, 2026-04-02), VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
Insider purchases and sales in Q4 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q1 2024 | 0 | — | 6 | $2.4m | $558.8k |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 4 | $8.3m | — |
| Q4 2024 | 0 | — | 4 | $34.8m | — |
| Q1 2025 | 1 | $299.4k | 1 | $1.6m | $1.6m |
| Q2 2025 | 0 | — | 2 | $17.9m | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 0 | — | 0 | — | — |
None reported in Q4 2025.
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.00% of their portfolio | 8.3m $166.7m | Reduced -38.5k |
| UBS Group AG 0.02% of their portfolio | 5.7m $114.4m | Added +3.8m |
| BlackRock, Inc. 0.00% of their portfolio | 5.6m $112.7m | Added +324.7k |
| Tensile Capital Management LP 8.85% of their portfolio | 3.4m $68.3m | Reduced -384.4k |
| NOMURA HOLDINGS INC 0.18% of their portfolio | 3.2m $63.4m | Added +3.2m |
| NEUBERGER BERMAN GROUP LLC 0.04% of their portfolio | 2.8m $56.3m | Reduced -168.3k |
| BROWN ADVISORY INC 0.08% of their portfolio | 2.8m $55.5m | Reduced -302.0k |
| GENEVA CAPITAL MANAGEMENT LLC 1.02% of their portfolio | 2.7m $54.1m | Reduced -222.4k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.02% of their portfolio | 2.7m $53.9m | Reduced -869.6k |
| Conestoga Capital Advisors, LLC 0.84% of their portfolio | 2.5m $50.1m | Reduced -36.3k |
| STATE STREET CORP 0.00% of their portfolio | 1.8m $36.9m | Added +136.7k |
| Park West Asset Management LLC 3.08% of their portfolio | 1.8m $36.6m | Added +583.4k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 1.8m $35.8m | Added +93.2k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 1.7m $34.3m | Reduced -1.9m |
| WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio | 1.5m $30.8m | Reduced -621.4k |
| BARCLAYS PLC 0.01% of their portfolio | 1.5m $29.3m | Added +624.1k |
| Legacy Advisors, LLC 2.88% of their portfolio | 1.3m $26.8m | Added +60 |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 1.3m $26.7m | Added +442.2k |
| Aberdeen Group plc 0.04% of their portfolio | 1.2m $24.4m | Reduced -224.1k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.07% of their portfolio | 1.2m $24.3m | Added +360.8k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 1.1m $21.6m | Added +657.4k |
| CITIGROUP INC 0.01% of their portfolio | 1.0m $20.4m | Added +811.0k |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 0.05% of their portfolio | 1.0m $20.1m | Reduced -295.9k |
| JENNISON ASSOCIATES LLC 0.01% of their portfolio | 991.8k $19.8m | Added +172.7k |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 975.4k $19.5m | Added +789.4k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 971.7k $19.4m | Added +414.1k |
| MORGAN STANLEY 0.00% of their portfolio | 924.9k $18.5m | Reduced -48.6k |
| BANQUE PICTET & CIE SA 0.16% of their portfolio | 818.6k $16.3m | Reduced -125.4k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 818.2k $16.3m | Reduced -169.0k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 799.8k $16.0m | Added +5.1k |
| JANUS HENDERSON GROUP PLC 0.01% of their portfolio | 776.4k $15.5m | Reduced -25.3k |
| TimesSquare Capital Management, LLC 0.23% of their portfolio | 766.2k $15.3m | Reduced -325.0k |
| PALISADE CAPITAL MANAGEMENT, LP 0.44% of their portfolio | 746.4k $14.9m | Added +128.2k |
| Champlain Investment Partners, LLC 0.15% of their portfolio | 739.7k $14.8m | Reduced -1.3m |
| JANE STREET GROUP, LLC 0.02% of their portfolio | 719.1k $14.4m | Added +394.5k |
| CIBC WORLD MARKETS CORP 0.07% of their portfolio | 704.6k $14.1m | First filing |
| Hyperion Capital Advisors LP 6.35% of their portfolio | 650.0k $13.0m | Added +110.0k |
| Pembroke Management, LTD 1.34% of their portfolio | 648.1k $12.9m | Reduced -170.0k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 634.3k $12.7m | Reduced -10.2k |
| BROWN CAPITAL MANAGEMENT LLC 1.00% of their portfolio | 610.3k $12.2m | Reduced -692.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 610.1k $12.2m | Added +13.6k |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 507.6k $10.1m | Added +164.0k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 464.2k $9.3m | Reduced -1.0m |
| Premier Fund Managers Ltd 0.52% of their portfolio | 453.3k $9.1m | Reduced -120.1k |
| FRED ALGER MANAGEMENT, LLC 0.03% of their portfolio | 439.4k $8.8m | Reduced -263.6k |
| MIZUHO MARKETS AMERICAS LLC 0.16% of their portfolio | 378.9k $7.6m | Reduced -14.0k |
| GAGNON SECURITIES LLC 1.48% of their portfolio | 364.6k $7.3m | Reduced -14.0k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 282.4k $5.6m | Added +158.3k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio | 282.1k $5.6m | Reduced -102.6k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 275.9k $5.5m | Added +267.8k |
| KORNITZER CAPITAL MANAGEMENT INC /KS 0.11% of their portfolio | 269.0k $5.4m | Added +168 |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 268.8k $5.4m | New |
| Saba Capital Management, L.P. 0.18% of their portfolio | 263.5k $5.3m | Added +60.0k |
| NORRIS PERNE & FRENCH LLP/MI 0.34% of their portfolio | 259.9k $5.2m | Added +53.7k |
| COMERICA BANK 0.02% of their portfolio | 258.0k $5.2m | Reduced -17.4k |
| Divisar Capital Management LLC 1.40% of their portfolio | 250.0k $5.0m | New |
| PEREGRINE CAPITAL MANAGEMENT LLC 0.15% of their portfolio | 249.2k $5.0m | Reduced -3.4k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 245.9k $4.9m | Added +27.3k |
| Pier Capital, LLC 0.78% of their portfolio | 244.6k $4.9m | Reduced -47.3k |
| Voleon Capital Management LP 0.10% of their portfolio | 234.0k $4.7m | New |
| Gagnon Advisors, LLC 2.95% of their portfolio | 232.5k $4.6m | Unchanged |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio | 228.1k $4.6m | Reduced -500.5k |
| CYPRESS POINT INVESTMENT MANAGEMENT LP 0.98% of their portfolio | 227.0k $4.5m | First filing |
| NORTH STAR ASSET MANAGEMENT INC 0.18% of their portfolio | 220.5k $4.4m | Added +25.5k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 218.7k $4.4m | Added +167.9k |
| HERALD INVESTMENT MANAGEMENT Ltd 0.52% of their portfolio | 200.0k $4.0m | Unchanged |
| Y-Intercept (Hong Kong) Ltd 0.08% of their portfolio | 189.0k $3.8m | Added +138.2k |
| Banco Santander, S.A. 0.03% of their portfolio | 184.8k $3.7m | Added +7.0k |
| Roubaix Capital, LLC 1.57% of their portfolio | 184.4k $3.7m | New |
| Edgestream Partners, L.P. 0.09% of their portfolio | 166.3k $3.3m | New |
| Granahan Investment Management, LLC 0.13% of their portfolio | 150.3k $3.0m | Reduced -139.0k |
| EFG International AG 0.06% of their portfolio | 145.8k $2.9m | First filing |
| Swiss National Bank 0.00% of their portfolio | 144.9k $2.9m | Added +2.9k |
| SEI INVESTMENTS CO 0.00% of their portfolio | 140.2k $2.8m | Reduced -231.2k |
| Nuveen, LLC 0.00% of their portfolio | 139.3k $2.8m | Added +7.6k |
| ROYCE & ASSOCIATES LP 0.03% of their portfolio | 136.0k $2.7m | Added +25.5k |
| KENNEDY CAPITAL MANAGEMENT LLC 0.06% of their portfolio | 136.0k $2.7m | Added +708 |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 132.1k $2.6m | Reduced -149.4k |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 125.9k $2.5m | Reduced -17.1k |
| Lazard Freres Gestion S.A.S. 0.04% of their portfolio | 110.0k $2.2m | Added +40.0k |
| XTX Topco Ltd 0.06% of their portfolio | 107.9k $2.2m | Added +87.8k |
| Campbell & CO Investment Adviser LLC 0.10% of their portfolio | 103.7k $2.1m | Added +86.9k |
| Aquatic Capital Management LLC 0.06% of their portfolio | 97.3k $1.9m | New |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 88.5k $1.8m | Reduced -105.0k |
| Baird Financial Group, Inc. 0.00% of their portfolio | 87.2k $1.7m | Reduced -7.0k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 86.8k $1.7m | Added +32.2k |
| Bullseye Asset Management LLC 0.92% of their portfolio | 85.3k $1.7m | Reduced -26.4k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 85.3k $1.7m | Reduced -9.4k |
| Squarepoint Ops LLC 0.00% of their portfolio | 82.2k $1.6m | New |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 75.8k $1.5m | Added +1.5k |
| Legal & General Group Plc 0.00% of their portfolio | 74.2k $1.5m | Reduced -8.1k |
| Jain Global LLC 0.01% of their portfolio | 72.3k $1.4m | Added +41.0k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 70.6k $1.4m | Added +14.0k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 70.3k $1.4m | Reduced -899 |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.00% of their portfolio | 69.5k $1.4m | First filing |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 68.8k $1.4m | Added +257 |
| Palogic Value Management, L.P. 0.58% of their portfolio | 67.5k $1.3m | Added +7.5k |
| Holocene Advisors, LP 0.00% of their portfolio | 61.5k $1.2m | Added +16.8k |
| Invesco Ltd. 0.00% of their portfolio | 61.0k $1.2m | Added +7.7k |
| Qube Research & Technologies Ltd 0.00% of their portfolio | 58.3k $1.2m | New |