Conestoga Capital Advisors LLC Increases Stock Position in Vertex, Inc. $VERX

Conestoga Capital Advisors LLC lifted its holdings in Vertex, Inc. (NASDAQ:VERX) by 15.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 3,398,435 shares of the company’s stock after acquiring an additional 450,695 shares during the quarter. Vertex makes up about 1.8% of Conestoga Capital Advisors LLC’s holdings, making the stock its 27th largest holding. Conestoga Capital Advisors LLC’s holdings in Vertex were worth $120,084,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Fifth Third Bancorp raised its stake in shares of Vertex by 31.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,467 shares of the company’s stock worth $52,000 after acquiring an additional 347 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Vertex by 25.7% during the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock worth $68,000 after acquiring an additional 395 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Vertex by 44.4% during the 2nd quarter. Blue Trust Inc. now owns 1,664 shares of the company’s stock worth $59,000 after acquiring an additional 512 shares in the last quarter. Strategic Advocates LLC raised its stake in shares of Vertex by 9.6% during the 2nd quarter. Strategic Advocates LLC now owns 6,464 shares of the company’s stock worth $228,000 after acquiring an additional 565 shares in the last quarter. Finally, State of Wyoming raised its stake in shares of Vertex by 16.1% during the 1st quarter. State of Wyoming now owns 4,669 shares of the company’s stock worth $163,000 after acquiring an additional 649 shares in the last quarter. Hedge funds and other institutional investors own 70.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VERX. JMP Securities set a $50.00 price objective on shares of Vertex and gave the stock a “market outperform” rating in a research note on Thursday, August 7th. DA Davidson lowered shares of Vertex from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 7th. Citigroup upgraded shares of Vertex from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Vertex in a research note on Wednesday, October 8th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Vertex in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Vertex presently has a consensus rating of “Moderate Buy” and an average target price of $42.71.

Vertex Stock Down 0.2%

NASDAQ:VERX opened at $24.33 on Monday. The company has a market cap of $3.88 billion, a PE ratio of -73.73, a P/E/G ratio of 5.02 and a beta of 0.63. Vertex, Inc. has a twelve month low of $23.13 and a twelve month high of $60.71. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.36. The company’s 50 day moving average is $25.05 and its two-hundred day moving average is $32.69.

Vertex (NASDAQ:VERX) last released its earnings results on Wednesday, August 6th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. The company had revenue of $184.56 million for the quarter, compared to the consensus estimate of $184.60 million. Vertex had a negative net margin of 7.09% and a positive return on equity of 27.16%. Vertex’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.15 EPS. Analysts anticipate that Vertex, Inc. will post 0.38 EPS for the current 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.