Conestoga Capital Lowers Vertex Stake to 5.0%

TL;DR

**Conestoga Capital cut its Vertex stake to 5.0%, signaling a potential shift in sentiment.**

AI Summary

Conestoga Capital Advisors, LLC, a Delaware-based investment firm, filed an amended SC 13G/A on January 5, 2024, disclosing its ownership in Vertex, Inc. As of December 31, 2023, Conestoga beneficially owned 2,832,620 shares of Vertex's Class A Common Stock, representing 5.0% of the outstanding shares. This is a decrease from their previous filing, indicating they have reduced their stake, which could signal a shift in their investment outlook for Vertex, Inc. and might be a point of concern for current or prospective investors.

Why It Matters

This filing shows a significant institutional investor, Conestoga Capital Advisors, has reduced its ownership in Vertex, Inc., which could be interpreted as a less bullish outlook on the company's future performance.

Risk Assessment

Risk Level: medium — A notable institutional investor reducing its stake can sometimes precede a decline in stock price or reflect underlying concerns about the company's prospects.

Analyst Insight

An investor might consider researching the reasons behind Conestoga Capital Advisors' reduced stake in Vertex, Inc. and potentially re-evaluating their own position or delaying new investments until more clarity emerges.

Key Numbers

• 2,832,620 — Shares Beneficially Owned (This is the total number of Vertex, Inc. Class A Common Stock shares Conestoga Capital Advisors, LLC reported owning as of December 31, 2023.)
• 5.0% — Percentage of Class A Common Stock (This represents the ownership stake Conestoga Capital Advisors, LLC holds in Vertex, Inc., indicating a decrease from previous filings.)
• December 31, 2023 — Reporting Date (This is the specific date for which the ownership data is reported, providing a clear snapshot of their holdings.)
• 0001806837 — Vertex, Inc. CIK (This is the Central Index Key for Vertex, Inc., used for identifying the company in SEC filings.)
• 0001163744 — Conestoga Capital Advisors, LLC CIK (This is the Central Index Key for Conestoga Capital Advisors, LLC, identifying the filer.)

Key Players & Entities

• Conestoga Capital Advisors, LLC (company) — the reporting person and institutional investor
• Vertex, Inc. (company) — the subject company whose shares are being reported
• Delaware (company) — place of organization for Conestoga Capital Advisors, LLC
• 2,832,620 (dollar_amount) — shares beneficially owned by Conestoga Capital Advisors, LLC
• 5.0% (dollar_amount) — percentage of Class A Common Stock owned by Conestoga Capital Advisors, LLC
• December 31, 2023 (date) — date of event requiring the filing
• January 5, 2024 (date) — date the SC 13G/A was filed

Forward-Looking Statements

• Vertex, Inc.'s stock price may experience downward pressure in the short term. (Vertex, Inc.) — medium confidence, target: Q1 2024
• Other institutional investors might re-evaluate their positions in Vertex, Inc. (institutional investors) — medium confidence, target: Q1 2024

FAQ

Key Financial Figures

• $0.001 — lass A) Class A Common Stock, Par Value $0.001 Per Share (Title of Class of Securitie

Filing Documents

• verxa4_10524.htm (SC 13G/A) — 25KB
• 0001085146-24-000041.txt ( ) — 27KB

(a)

ITEM 1(a). NAME OF ISSUER: VERTEX, INC.

(b)

ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 2301 Renaissance Blvd King of Prussia, Pennsylvania

(a)

ITEM 2(a). NAME OF PERSON FILING: Conestoga Capital Advisors, LLC

(b)

ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: 550 E. Swedesford Rd. Ste 120 Wayne, PA 19087

(c)

ITEM 2(c). CITIZENSHIP: Conestoga Capital Advisors, LLC - Delaware

(d)

ITEM 2(d). TITLE OF CLASS OF SECURITIES: (Class A) Class A Common Stock, Par Value $0.001 Per Share

(e)

ITEM 2(e). CUSIP NUMBER: 92538j106 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTION 240.13d-1(b), or 13d-2(b) or (c) CHECK WHETHER THE PERSON FILING IS A: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78c); (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c); (c) [ ] Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c); (d) [ ] Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8); (e) [X] An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J); (k) [ ] Group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d1(b)(1)(ii)(J), please specify the type of institution: ITEM 4. (a) Amount beneficially owned: Conestoga Capital Advisors 3,021,860 (b) Percent of class: Conestoga Capital Advisors 5.01% (c) Number of shares as to which the person has: (i) sole power to vote or to direct the vote: Conestoga Capital Advisors: 2,832,620 (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or direct the disposition of: Conestoga Capital Advisors: 3,021,860 (iv) shared power to dispose or to direct the disposition of: 0 ITEM 5. If this statement is being filed to report the fact that as of the date hereof the

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