Bank Julius Baer & Co. Ltd Zurich Sells 51,003 Shares of Vertex, Inc. $VERX

Bank Julius Baer & Co. Ltd Zurich lowered its stake in Vertex, Inc. (NASDAQ:VERX) by 34.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 98,564 shares of the company’s stock after selling 51,003 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned approximately 0.06% of Vertex worth $3,563,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Geneva Capital Management LLC raised its position in shares of Vertex by 42.1% in the first quarter. Geneva Capital Management LLC now owns 2,043,205 shares of the company’s stock worth $71,533,000 after buying an additional 605,617 shares in the last quarter. Advantage Alpha Capital Partners LP bought a new position in Vertex in the 1st quarter worth about $4,168,000. Banco Santander S.A. increased its stake in Vertex by 50.9% in the 1st quarter. Banco Santander S.A. now owns 350,000 shares of the company’s stock worth $12,254,000 after acquiring an additional 118,000 shares during the last quarter. Aperture Investors LLC boosted its position in shares of Vertex by 1.8% during the 1st quarter. Aperture Investors LLC now owns 644,215 shares of the company’s stock valued at $22,554,000 after acquiring an additional 11,517 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of Vertex by 11.8% during the first quarter. Swiss National Bank now owns 129,300 shares of the company’s stock worth $4,527,000 after purchasing an additional 13,600 shares in the last quarter. Hedge funds and other institutional investors own 70.32% of the company’s stock.

Vertex Stock Up 1.3%

Shares of NASDAQ:VERX opened at $19.79 on Friday. The stock has a market capitalization of $3.16 billion, a P/E ratio of -56.54, a price-to-earnings-growth ratio of 3.96 and a beta of 0.64. The stock’s 50-day moving average price is $23.39 and its 200-day moving average price is $29.84. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.27. Vertex, Inc. has a 12-month low of $18.54 and a 12-month high of $60.71.

Vertex (NASDAQ:VERX) last released its 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. Vertex had a positive return on equity of 26.84% and a negative net margin of 7.32%.The company had revenue of $192.11 million during the quarter, compared to analyst estimates of $191.62 million. During the same quarter in the previous year, the company posted $0.16 EPS. Vertex’s revenue for the quarter was up 12.7% on a year-over-year basis. Vertex has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. On average, equities analysts anticipate that Vertex, Inc. will post 0.38 earnings per share for the current year.

Vertex declared that its Board of Directors has approved a stock repurchase program on Monday, November 3rd that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 4.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VERX. BMO Capital Markets lowered their target price on shares of Vertex from $30.00 to $24.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 4th. Bank of America dropped their price objective on shares of Vertex from $42.00 to $34.00 and set a “neutral” rating for the company in a report on Friday, August 8th. Citizens Jmp reduced their target price on Vertex from $50.00 to $37.00 and set a “market outperform” rating on the stock in a research note on Tuesday, November 4th. Needham & Company LLC lowered their price target on Vertex from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, November 4th. Finally, Stephens initiated coverage on Vertex in a report on Friday, September 26th. They issued an “overweight” rating and a $30.00 price objective for the company. Twelve analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Vertex presently has an average rating of “Moderate Buy” and an average price target of $32.60.

About Vertex

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.