Norris Perne & French LLP MI Has $8.91 Million Stake in Vertex, Inc. $VERX

Norris Perne & French LLP MI raised its stake in Vertex, Inc. (NASDAQ:VERX) by 7.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 252,028 shares of the company’s stock after buying an additional 17,736 shares during the quarter. Norris Perne & French LLP MI owned 0.16% of Vertex worth $8,905,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Vertex by 63.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,429,416 shares of the company’s stock valued at $85,054,000 after purchasing an additional 939,031 shares in the last quarter. Fiera Capital Corp bought a new position in shares of Vertex during the 1st quarter valued at about $27,399,000. Conestoga Capital Advisors LLC lifted its holdings in shares of Vertex by 30.3% during the 1st quarter. Conestoga Capital Advisors LLC now owns 2,947,740 shares of the company’s stock valued at $103,200,000 after purchasing an additional 686,145 shares in the last quarter. Geneva Capital Management LLC lifted its holdings in shares of Vertex by 42.1% during the 1st quarter. Geneva Capital Management LLC now owns 2,043,205 shares of the company’s stock valued at $71,533,000 after purchasing an additional 605,617 shares in the last quarter. Finally, Aberdeen Group plc lifted its holdings in shares of Vertex by 46.9% during the 1st quarter. Aberdeen Group plc now owns 1,511,846 shares of the company’s stock valued at $52,128,000 after purchasing an additional 482,669 shares in the last quarter. Institutional investors and hedge funds own 70.32% of the company’s stock.

Analyst Upgrades and Downgrades

VERX has been the topic of several recent analyst reports. DA Davidson cut Vertex from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. Bank of America cut their price objective on Vertex from $42.00 to $34.00 and set a “neutral” rating on the stock in a report on Friday, August 8th. The Goldman Sachs Group set a $43.00 price objective on Vertex and gave the company a “buy” rating in a report on Thursday, August 7th. Stephens initiated coverage on Vertex in a report on Friday. They set an “overweight” rating and a $30.00 price objective on the stock. Finally, JMP Securities set a $50.00 price objective on Vertex and gave the company a “market outperform” rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Vertex currently has an average rating of “Moderate Buy” and an average price target of $42.71.

Vertex Stock Up 1.5%

Shares of Vertex stock opened at $24.97 on Monday. The business’s 50 day simple moving average is $27.36 and its 200 day simple moving average is $33.81. Vertex, Inc. has a 52-week low of $23.13 and a 52-week high of $60.71. The firm has a market cap of $3.98 billion, a PE ratio of -75.66, a P/E/G ratio of 5.18 and a beta of 0.68. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.99 and a current ratio of 0.99.

Vertex (NASDAQ:VERX) last announced its earnings results on Wednesday, August 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Vertex had a positive return on equity of 27.16% and a negative net margin of 7.09%.The business had revenue of $184.56 million for the quarter, compared to analyst estimates of $184.60 million. During the same quarter last year, the firm earned $0.15 EPS. Vertex’s revenue for the quarter was up 14.6% compared to the same quarter last year. On average, analysts predict that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

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.