Artisan Partners Limited Partnership Acquires New Shares in Vertex, Inc. $VERX

Artisan Partners Limited Partnership acquired a new position in Vertex, Inc. (NASDAQ:VERX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 755,101 shares of the company’s stock, valued at approximately $26,681,000. Artisan Partners Limited Partnership owned about 0.48% of Vertex as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VERX. Fifth Third Bancorp lifted its stake in shares of Vertex by 31.0% in the second quarter. Fifth Third Bancorp now owns 1,467 shares of the company’s stock worth $52,000 after buying an additional 347 shares during the last quarter. Blue Trust Inc. raised its holdings in Vertex by 44.4% in 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 during the period. Advisors Asset Management Inc. raised its holdings in Vertex by 25.7% in 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 during the period. US Bancorp DE lifted its position in Vertex by 88.1% during the 1st 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 bought a new stake in Vertex during the first quarter valued at about $97,000. Institutional investors own 70.32% of the company’s stock.

Vertex Price Performance

Shares of VERX stock opened at $19.79 on Friday. The firm’s 50 day moving average price is $23.39 and its two-hundred day moving average price is $29.84. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.01 and a current ratio of 1.01. Vertex, Inc. has a 52-week low of $18.54 and a 52-week high of $60.71. The stock has a market cap of $3.16 billion, a PE ratio of -56.54, a PEG ratio of 3.96 and a beta of 0.64.

Vertex (NASDAQ:VERX) last posted its earnings results on Monday, November 3rd. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. The company had revenue of $192.11 million during the quarter, compared to analyst estimates of $191.62 million. Vertex had a positive return on equity of 26.84% and a negative net margin of 7.32%.The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 EPS. Vertex has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, analysts forecast that Vertex, Inc. will post 0.38 EPS for the current year.

Vertex declared that its board has approved a share buyback program on Monday, November 3rd that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to repurchase up to 4.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on VERX shares. UBS Group reissued a “market outperform” rating on shares of Vertex in a report on Tuesday, November 4th. Robert W. Baird set a $25.00 target price on Vertex in a research report on Tuesday, November 4th. JMP Securities set a $37.00 price target on shares of Vertex in a research note on Tuesday, November 4th. Citizens Jmp lowered their price target on shares of Vertex from $50.00 to $37.00 and set a “market outperform” rating on the stock in a report on Tuesday, November 4th. Finally, Stephens began coverage on shares of Vertex in a research note on Friday, September 26th. They issued an “overweight” rating and a $30.00 price objective for the company. Twelve research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.60.

Vertex 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.