On February 17, 2026, Tensile Capital Management LP reported selling 384,415 shares of Vertex (VERX 2.97%) in the fourth quarter, an estimated $8.32 million trade based on quarterly average pricing.
What Happened
According to an SEC filing dated February 17, 2026, Tensile Capital Management LP sold 384,415 shares of Vertex in the fourth quarter of 2025. The estimated value of the shares sold is $8.32 million, based on the average closing price for the quarter. The quarter-end value of the stake declined by $26.01 million, reflecting both trading activity and stock price movement.
What Else to Know
Following the reduction, the position comprises 8.8% of 13F reportable AUM.
Top five fund holdings after the filing:
- NYSE: LAD: $74.70 million (9.7% of AUM)
- NYSE: DKS: $70.84 million (9.2% of AUM)
- NASDAQ: VERX: $68.30 million (8.9% of AUM)
- NYSE: CCK: $63.04 million (8.2% of AUM)
- NYSE: VVV: $60.99 million (7.9% of AUM)
As of February 17, 2026, shares were priced at $12.34, down 74.09% over the prior year.
The position was previously 11.8% of the fund's AUM as of the prior quarter.
Company Overview
| Metric | Value |
|---|---|
| Price (as of market close 2/17/26) | $12.34 |
| Market capitalization | $1.97 billion |
| Revenue (TTM) | $748.44 million |
| Net income (TTM) | $7.21 million |
Company Snapshot
- Vertex provides tax technology solutions, including tax determination, compliance and reporting, tax data management, document management, and pre-built integrations, primarily delivered as software licenses and SaaS subscriptions.
- The company generates revenue through software sales, cloud-based subscriptions, implementation and training services, and tax returns outsourcing.
- Its primary customers are corporations in retail, communications, leasing, and manufacturing sectors, both in the United States and internationally.
Vertex is a leading provider of tax technology software, serving a diverse base of corporate clients with scalable solutions for complex tax compliance needs. The company leverages a combination of software licensing and SaaS models to drive recurring revenue and maintain strong client relationships. Its focus on integration and industry-specific offerings positions it as a strategic partner for enterprises seeking to streamline tax operations and ensure regulatory compliance.
What This Transaction Means for Investors
Tensile Capital, a California-based investment firm, recently disclosed the sale of 384,000 shares of Vertex, a software stock. The transaction was valued at approximately $8.3 million. Here’s what investors should know about it.
First, we should put this sale in context. As of December 31, 2025, Tensile still held more than 3.4 million shares of Vertex. So, while this sale was sizable, it only represented about a 10% cut from the firm’s overall holdings of the stock. What’s more, Vertex remains one of Tensile’s largest stock holdings — ranking third among 24 holdings.
In other words, this was a reduction — but not a very large one, relatively speaking. Tensile could have sold many more shares but didn’t.
As for the stock, Vertex shares have struggled over the last year. All in all, the stock is down about 54%, led lower by a series of operating challenges, including a deceleration in revenue growth.
