Bank of New York Mellon Corp Has $7.13 Million Stock Holdings in Vertex, Inc. $VERX

Bank of New York Mellon Corp lifted its stake in shares of Vertex, Inc. (NASDAQ:VERX) by 14.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 201,797 shares of the company’s stock after purchasing an additional 25,812 shares during the quarter. Bank of New York Mellon Corp owned 0.13% of Vertex worth $7,130,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of VERX. Geneva Capital Management LLC lifted its position in Vertex by 47.7% during the second quarter. Geneva Capital Management LLC now owns 3,017,735 shares of the company’s stock worth $106,632,000 after purchasing an additional 974,530 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of Vertex by 63.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,429,416 shares of the company’s stock valued at $85,054,000 after buying an additional 939,031 shares in the last quarter. Fiera Capital Corp bought a new stake in shares of Vertex during the 1st quarter worth approximately $27,399,000. Aberdeen Group plc boosted its position 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 acquiring an additional 482,669 shares in the last quarter. Finally, Conestoga Capital Advisors LLC increased its stake in Vertex by 15.3% in the second quarter. Conestoga Capital Advisors LLC now owns 3,398,435 shares of the company’s stock valued at $120,084,000 after acquiring an additional 450,695 shares during the last quarter. Institutional investors own 70.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on VERX shares. The Goldman Sachs Group cut their target price on Vertex from $43.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Bank of America dropped their price objective on Vertex from $42.00 to $34.00 and set a “neutral” rating for the company in a research report on Friday, August 8th. JMP Securities set a $37.00 price objective on Vertex in a research note on Tuesday, November 4th. Citigroup downgraded Vertex from a “market outperform” rating to a “hold” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Vertex in a report on Wednesday, October 8th. Twelve equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock 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 $19.79 on Friday. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of -56.54, a PEG ratio of 3.96 and a beta of 0.64. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.27. The business’s 50-day moving average price is $23.39 and its 200-day moving average price is $29.84. Vertex, Inc. has a 12 month low of $18.54 and a 12 month high of $60.71.

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

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