Whittier Trust Co. Has $9.22 Million Stock Holdings in Vertex, Inc. $VERX

Whittier Trust Co. raised its stake in shares of Vertex, Inc. (NASDAQ:VERX) by 2.6% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 260,875 shares of the company’s stock after purchasing an additional 6,613 shares during the period. Whittier Trust Co. owned approximately 0.16% of Vertex worth $9,216,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp boosted its stake in Vertex by 31.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,467 shares of the company’s stock valued at $52,000 after purchasing an additional 347 shares during the last quarter. Blue Trust Inc. boosted its stake in Vertex by 44.4% during the 2nd quarter. Blue Trust Inc. now owns 1,664 shares of the company’s stock valued at $59,000 after purchasing an additional 512 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in Vertex by 25.7% during the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock valued at $68,000 after purchasing an additional 395 shares during the last quarter. US Bancorp DE boosted its stake in Vertex by 88.1% during the 1st quarter. US Bancorp DE now owns 2,024 shares of the company’s stock valued at $71,000 after purchasing an additional 948 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new position in Vertex during the 1st quarter valued at about $97,000. Institutional investors and hedge funds own 70.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on VERX. Weiss Ratings reiterated a “sell (d)” rating on shares of Vertex in a research note on Wednesday, October 8th. Citigroup upgraded Vertex from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. DA Davidson downgraded Vertex from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 7th. BMO Capital Markets restated a “market perform” rating on shares of Vertex in a research note on Thursday, August 7th. Finally, Needham & Company LLC cut their target price on Vertex from $60.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.79.

Vertex Price Performance

Shares of NASDAQ VERX opened at $25.94 on Wednesday. Vertex, Inc. has a twelve month low of $23.13 and a twelve month high of $60.71. The stock’s 50 day moving average price is $25.08 and its 200-day moving average price is $32.58. The company has a market capitalization of $4.14 billion, a PE ratio of -78.60, a PEG ratio of 5.29 and a beta of 0.63. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.36.

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

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.