Vertex, Inc. $VERX Stock: Gagnon Securities LLC Grows Stake

Gagnon Securities LLC lifted its stake in Vertex, Inc. (NASDAQ:VERX) by 37.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,045,187 shares of the company’s stock after acquiring an additional 284,161 shares during the period. Vertex accounts for approximately 2.1% of Gagnon Securities LLC’s holdings, making the stock its 20th biggest position. Gagnon Securities LLC owned approximately 0.64% of Vertex worth $12,312,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in VERX. Sterling Capital Management LLC raised its holdings in Vertex by 841.4% during the third quarter. Sterling Capital Management LLC now owns 2,410 shares of the company’s stock worth $28,000 after purchasing an additional 2,154 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Vertex during the 3rd quarter valued at $68,000. Versant Capital Management Inc boosted its stake in Vertex by 74.8% during the 2nd quarter. Versant Capital Management Inc now owns 8,604 shares of the company’s stock valued at $99,000 after purchasing an additional 3,683 shares in the last quarter. Verdence Capital Advisors LLC acquired a new position in shares of Vertex during the 3rd quarter valued at $128,000. Finally, Caxton Associates LLP acquired a new position in shares of Vertex during the 1st quarter valued at $132,000. 70.32% of the stock is currently owned by institutional investors.

Vertex Price Performance

Shares of NASDAQ:VERX opened at $17.83 on Thursday. Vertex, Inc. has a one year low of $10.21 and a one year high of $20.85. The stock has a fifty day moving average of $13.63 and a 200-day moving average of $13.25. The company has a market capitalization of $2.89 billion, a PE ratio of -61.48 and a beta of 0.77. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.75 and a current ratio of 0.75.

Vertex (NASDAQ:VERX) last issued its earnings results on Wednesday, November 4th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The business had revenue of $213.28 million for the quarter, compared to analysts’ expectations of $209.72 million. Vertex had a positive return on equity of 36.83% and a negative net margin of 5.83%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.17 EPS. As a group, equities analysts anticipate that Vertex, Inc. will post 0.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on VERX. Wall Street Zen upgraded Vertex from a “hold” rating to a “buy” rating in a report on Sunday, October 18th. BMO Capital Markets lifted their target price on Vertex from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Tuesday, August 4th. DA Davidson set a $16.00 price target on shares of Vertex in a research report on Thursday, November 5th. Morgan Stanley cut shares of Vertex from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $19.00 to $15.00 in a research report on Tuesday, July 21st. Finally, Robert W. Baird cut their price target on shares of Vertex from $19.00 to $17.00 and set an “outperform” rating for the company in a report on Tuesday, August 4th. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $18.79.

Vertex Company Profile

Vertex, Inc. provides tax technology and related services to businesses. Founded in 1978 and headquartered in King of Prussia, Pennsylvania, the company develops software that helps organizations manage the complexities of transaction taxes. Its products support tax determination and calculation, compliance and reporting, tax data management, and exemption certificate management. Vertex solutions are designed to integrate with business systems such as enterprise resource planning and e-commerce platforms, helping companies automate tax processes across their operations.