Envestnet Asset Management Inc. Decreases Stock Position in Vertex, Inc. $VERX

Envestnet Asset Management Inc. reduced its holdings in shares of Vertex, Inc. (NASDAQ:VERX) by 10.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 200,985 shares of the company’s stock after selling 23,777 shares during the period. Envestnet Asset Management Inc.’s holdings in Vertex were worth $7,102,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of VERX. Fifth Third Bancorp grew its position in shares of Vertex by 31.0% in the second quarter. Fifth Third Bancorp now owns 1,467 shares of the company’s stock valued at $52,000 after purchasing an additional 347 shares during the last quarter. Blue Trust Inc. grew its holdings in Vertex by 44.4% during the 2nd quarter. Blue Trust Inc. now owns 1,664 shares of the company’s stock valued at $59,000 after buying an additional 512 shares during the last quarter. Advisors Asset Management Inc. increased its position in Vertex by 25.7% during the first quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock worth $68,000 after buying an additional 395 shares in the last quarter. US Bancorp DE raised its holdings in shares of Vertex by 88.1% in the first quarter. US Bancorp DE now owns 2,024 shares of the company’s stock worth $71,000 after acquiring an additional 948 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in shares of Vertex in the first quarter valued at $97,000. Hedge funds and other institutional investors own 70.32% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on VERX. The Goldman Sachs Group dropped their price objective on Vertex from $43.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Needham & Company LLC lowered their price target on shares of Vertex from $40.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, November 4th. JMP Securities set a $37.00 price objective on shares of Vertex in a research note on Tuesday, November 4th. DA Davidson decreased their target price on shares of Vertex from $29.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 4th. Finally, Jefferies Financial Group set a $28.00 target price on shares of Vertex in a research note on Monday, November 3rd. Twelve equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.60.

Vertex Stock Performance

Shares of VERX stock opened at $19.65 on Wednesday. Vertex, Inc. has a one year low of $18.54 and a one year high of $60.71. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.01 and a current ratio of 1.01. The company has a 50 day moving average price of $24.10 and a 200 day moving average price of $30.80. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of -56.14, a price-to-earnings-growth ratio of 3.89 and a beta of 0.64.

Vertex (NASDAQ:VERX) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $192.11 million for the quarter, compared to analyst estimates of $191.62 million. Vertex had a negative net margin of 7.32% and a positive return on equity of 26.84%. Vertex’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the business earned $0.16 EPS. Vertex has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. Sell-side analysts anticipate that Vertex, Inc. will post 0.38 EPS for the current year.

Vertex announced that its Board of Directors has approved a stock buyback program on Monday, November 3rd that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to repurchase up to 4.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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.