EFG Asset Management North America Corp. Has $3.78 Million Position in Vertex, Inc. $VERX

EFG Asset Management North America Corp. boosted its stake in shares of Vertex, Inc. (NASDAQ:VERX) by 97.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 106,828 shares of the company’s stock after buying an additional 52,695 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Vertex were worth $3,775,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Fifth Third Bancorp raised its position in shares of Vertex by 31.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,467 shares of the company’s stock worth $52,000 after acquiring an additional 347 shares in the last quarter. Blue Trust Inc. raised its position in shares of 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 in the last quarter. Advisors Asset Management Inc. raised its position in shares of 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 in the last quarter. US Bancorp DE raised its position in shares of Vertex by 88.1% in 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 in the last quarter. Finally, Neo Ivy Capital Management bought a new position in shares of Vertex in the 1st quarter worth about $97,000. 70.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on VERX shares. Robert W. Baird set a $25.00 target price on Vertex in a research report on Tuesday. Needham & Company LLC decreased their target price on Vertex from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday. Stephens started coverage on Vertex in a research report on Friday, September 26th. They issued an “overweight” rating and a $30.00 target price for the company. DA Davidson decreased their target price on Vertex from $29.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Stifel Nicolaus cut their price target on Vertex from $28.00 to $23.00 and set a “hold” rating for the company in a research note on Tuesday. Twelve investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.60.

Vertex Trading Down 3.8%

NASDAQ:VERX opened at $19.91 on Wednesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.99 and a quick ratio of 0.99. Vertex, Inc. has a 1 year low of $19.21 and a 1 year high of $60.71. The company has a market cap of $3.18 billion, a P/E ratio of -56.88, a P/E/G ratio of 4.19 and a beta of 0.64. The stock’s fifty day moving average price is $24.69 and its two-hundred day moving average price is $31.50.

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, topping analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $192.11 million for the quarter, compared to the consensus estimate of $191.62 million. Vertex had a positive return on equity of 28.61% and a negative net margin of 7.32%.The firm’s revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 earnings per share. Vertex has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, analysts expect that Vertex, Inc. will post 0.38 EPS for the current year.

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

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.