Aperture Investors LLC Purchases 76,223 Shares of Vertex, Inc. $VERX

Aperture Investors LLC lifted its holdings in shares of Vertex, Inc. (NASDAQ:VERX) by 11.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 720,438 shares of the company’s stock after buying an additional 76,223 shares during the period. Vertex makes up about 3.3% of Aperture Investors LLC’s investment portfolio, making the stock its 4th largest holding. Aperture Investors LLC owned about 0.45% of Vertex worth $25,457,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in VERX. DLD Asset Management LP acquired a new position in Vertex during the 2nd quarter worth $300,348,000. Champlain Investment Partners LLC bought a new stake in shares of Vertex during the second quarter valued at about $60,381,000. Geneva Capital Management LLC lifted its holdings in Vertex by 47.7% in 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. grew its position in 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. Finally, Brown Capital Management LLC grew its position in Vertex by 114.8% in the 2nd quarter. Brown Capital Management LLC now owns 1,428,394 shares of the company’s stock valued at $50,472,000 after buying an additional 763,549 shares in the last quarter. 70.32% of the stock is owned by institutional investors.

Vertex Price Performance

NASDAQ VERX opened at $19.62 on Wednesday. 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 1 year low of $18.54 and a 1 year high of $60.71. The company has a market cap of $3.13 billion, a PE ratio of -56.06, a PEG ratio of 3.92 and a beta of 0.68. The stock’s 50-day moving average price is $22.06 and its two-hundred day moving average price is $28.14.

Vertex (NASDAQ:VERX) last released its earnings results on Monday, November 3rd. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $191.62 million. During the same period last year, the firm posted $0.16 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, analysts predict that Vertex, Inc. will post 0.38 EPS for the current year.

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

Wall Street Analyst Weigh In

VERX has been the subject of a number of research analyst reports. Needham & Company LLC reduced their price target on shares of Vertex from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, November 4th. Piper Sandler decreased their price objective on shares of Vertex from $42.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, November 4th. UBS Group reissued a “market outperform” rating on shares of Vertex in a report on Tuesday, November 4th. Jefferies Financial Group set a $28.00 target price on Vertex in a research report on Monday, November 3rd. Finally, JMP Securities set a $37.00 price target on Vertex in a research note on Tuesday, November 4th. Twelve research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.