Aberdeen Group plc Trims Position in Vertex, Inc. $VERX

Key Points

• Aberdeen Group plc decreased its stake in Vertex, Inc. by 3.4%, owning 1,460,730 shares worth approximately $52.16 million as of the latest SEC filing.
• Vertex reported a 0.15 EPS for the latest quarter, beating expectations, despite having a negative net margin of 7.09% and a yearly revenue increase of 14.6%.
• Analysts have mixed ratings for Vertex; with one Strong Buy, nine Buy, five Hold, and one Sell, and a consensus target price of around $42.71.

Aberdeen Group plc decreased its position in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 3.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,460,730 shares of the company's stock after selling 51,116 shares during the period. Aberdeen Group plc owned 0.92% of Vertex worth $52,163,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Vertex by 1,719.4% during the 1st quarter. GAMMA Investing LLC now owns 5,076 shares of the company's stock worth $178,000 after acquiring an additional 4,797 shares during the period. Rhumbline Advisers lifted its holdings in shares of Vertex by 5.6% during the 1st quarter. Rhumbline Advisers now owns 84,152 shares of the company's stock worth $2,946,000 after acquiring an additional 4,477 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of Vertex by 46.4% during the 1st quarter. Handelsbanken Fonder AB now owns 18,300 shares of the company's stock worth $641,000 after acquiring an additional 5,800 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in shares of Vertex by 85.3% during the 1st quarter. Bank Pictet & Cie Europe AG now owns 45,500 shares of the company's stock worth $1,593,000 after acquiring an additional 20,940 shares during the period. Finally, Conestoga Capital Advisors LLC lifted its holdings in shares of Vertex by 30.3% during the 1st quarter. Conestoga Capital Advisors LLC now owns 2,947,740 shares of the company's stock worth $103,200,000 after acquiring an additional 686,145 shares during the period. Hedge funds and other institutional investors own 70.32% of the company's stock.

Vertex Stock Down 0.7%

Shares of NASDAQ:VERX opened at $24.78 on Friday. 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, Inc. has a 52-week low of $23.13 and a 52-week high of $60.71. The company has a 50 day moving average of $25.51 and a two-hundred day moving average of $33.10. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of -75.09, a price-to-earnings-growth ratio of 5.11 and a beta of 0.63.

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on VERX shares. Bank of America cut their price objective on shares of Vertex from $42.00 to $34.00 and set a "neutral" rating on the stock in a report on Friday, August 8th. The Goldman Sachs Group set a $43.00 price objective on shares of Vertex and gave the stock a "buy" rating in a report on Thursday, August 7th. JMP Securities set a $50.00 target price on shares of Vertex and gave the stock a "market outperform" rating in a research report on Thursday, August 7th. DA Davidson downgraded shares of Vertex from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. Finally, Citigroup raised shares of Vertex from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $42.71.

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.

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