Vertex, Inc. $VERX Stock Holdings Increased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its stake in Vertex, Inc. (NASDAQ:VERX) by 8.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,232 shares of the company’s stock after buying an additional 3,903 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Vertex were worth $1,704,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. raised its holdings in shares of Vertex by 63.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,429,416 shares of the company’s stock worth $85,054,000 after acquiring an additional 939,031 shares in the last quarter. Fiera Capital Corp purchased a new stake in shares of Vertex during the first quarter worth $27,399,000. Geneva Capital Management LLC raised its stake 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 worth $71,533,000 after purchasing an additional 605,617 shares in the last quarter. Aberdeen Group plc raised its stake 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 worth $52,128,000 after purchasing an additional 482,669 shares in the last quarter. Finally, Conestoga Capital Advisors LLC raised its stake in shares of Vertex by 15.3% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 3,398,435 shares of the company’s stock worth $120,084,000 after purchasing an additional 450,695 shares in the last quarter. Hedge funds and other institutional investors own 70.32% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on VERX shares. BMO Capital Markets reaffirmed a “market perform” rating on shares of Vertex in a research report on Thursday, August 7th. Needham & Company LLC cut their price target on shares of Vertex from $60.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Stephens started coverage on shares of Vertex in a report on Friday, September 26th. They set an “overweight” rating and a $30.00 price target on the stock. DA Davidson upgraded shares of Vertex to a “hold” rating in a report on Wednesday, October 22nd. Finally, JMP Securities set a $50.00 target price on Vertex and gave the company a “market outperform” rating in a report on Thursday, August 7th. Nine equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Vertex presently has an average rating of “Moderate Buy” and an average target price of $41.00.

Vertex Stock Performance

Shares of VERX opened at $22.90 on Monday. The company has a market capitalization of $3.65 billion, a PE ratio of -69.39, a price-to-earnings-growth ratio of 4.64 and a beta of 0.64. Vertex, Inc. has a one year low of $22.42 and a one year high of $60.71. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.99 and a quick ratio of 0.99. The company’s fifty day moving average price is $24.89 and its 200 day moving average price is $31.77.

Vertex (NASDAQ:VERX) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The business had revenue of $184.56 million for the quarter, compared to analyst estimates of $184.60 million. Vertex had a positive return on equity of 27.16% and a negative net margin of 7.09%.The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 earnings per share. As a group, analysts expect that Vertex, Inc. will post 0.38 earnings per share 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.