13,000 Shares in Vertex, Inc. $VERX Acquired by West Tower Group LLC

Key Points

• West Tower Group LLC acquired 13,000 shares of Vertex, Inc. ($VERX), valued at approximately $459,000, making it the company's 25th largest holding.
• Vertex reported a quarterly earnings of $0.15 EPS, beating estimates, and experienced a 14.6% revenue growth compared to the previous year.
• An analyst consensus gives Vertex a "Moderate Buy" rating with an average target price of $42.71, despite mixed ratings from various financial institutions.

West Tower Group LLC purchased a new position in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 13,000 shares of the company's stock, valued at approximately $459,000. Vertex comprises 1.0% of West Tower Group LLC's holdings, making the stock its 25th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its stake in Vertex by 25.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 224,762 shares of the company's stock worth $7,869,000 after buying an additional 45,494 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Vertex by 3,751.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,087 shares of the company's stock worth $283,000 after buying an additional 7,877 shares during the last quarter. Geneva Capital Management LLC grew its stake in Vertex by 42.1% during the 1st quarter. Geneva Capital Management LLC now owns 2,043,205 shares of the company's stock worth $71,533,000 after buying an additional 605,617 shares during the last quarter. Advantage Alpha Capital Partners LP purchased a new position in Vertex during the 1st quarter worth approximately $4,168,000. Finally, Banco Santander S.A. grew its stake in Vertex by 50.9% during the 1st quarter. Banco Santander S.A. now owns 350,000 shares of the company's stock worth $12,254,000 after buying an additional 118,000 shares during the last quarter. Hedge funds and other institutional investors own 70.32% of the company's stock.

Vertex Stock Down 0.2%

VERX opened at $24.33 on Monday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.99 and a quick ratio of 0.99. The business has a 50 day simple moving average of $25.05 and a 200-day simple moving average of $32.69. The stock has a market capitalization of $3.88 billion, a P/E ratio of -73.73, a P/E/G ratio of 5.02 and a beta of 0.63. Vertex, Inc. has a 12 month low of $23.13 and a 12 month high of $60.71.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on VERX shares. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Vertex in a research report on Wednesday, October 8th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Vertex in a research report on Thursday, August 7th. Bank of America decreased 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. Needham & Company LLC decreased their price objective on Vertex from $60.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Finally, JMP Securities set a $50.00 price objective on Vertex and gave the stock a "market outperform" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $42.71.

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.

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