Callan Family Office LLC Makes New $370,000 Investment in Vertex, Inc. $VERX

Key Points

• Callan Family Office LLC has invested approximately $370,000 in Vertex, Inc., purchasing 10,469 shares during the second quarter.
• Vertex's stock has a current market cap of $3.94 billion and reported a 14.6% year-over-year revenue increase to $184.56 million for the latest quarter.
• Wall Street analysts have mixed ratings on Vertex, with one strong buy, nine buys, five holds, and one sell, and a current consensus price target of $42.71.

Callan Family Office 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 Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,469 shares of the company's stock, valued at approximately $370,000.

A number of other large investors also recently made changes to their positions in VERX. GAMMA Investing LLC lifted its stake 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 purchasing an additional 4,797 shares during the period. Norris Perne & French LLP MI purchased a new position in shares of Vertex during the 1st quarter worth $8,203,000. Oppenheimer Asset Management Inc. raised its position in shares of Vertex by 13.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 18,388 shares of the company's stock worth $644,000 after buying an additional 2,251 shares during the period. Bessemer Group Inc. raised its position in shares of Vertex by 23.8% in the 1st quarter. Bessemer Group Inc. now owns 694,702 shares of the company's stock worth $24,323,000 after buying an additional 133,541 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Vertex by 3,751.0% in 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 period. Hedge funds and other institutional investors own 70.32% of the company's stock.

Vertex Stock Down 1.4%

Shares of Vertex stock opened at $24.71 on Thursday. The business has a 50-day moving average of $25.14 and a 200-day moving average of $32.90. 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 company has a market capitalization of $3.94 billion, a PE ratio of -74.88, a P/E/G ratio of 5.17 and a beta of 0.63. Vertex, Inc. has a 1-year low of $23.13 and a 1-year high of $60.71.

Vertex (NASDAQ:VERX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01. The company had revenue of $184.56 million during the quarter, compared to the consensus estimate 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 revenue was up 14.6% on a year-over-year basis. During the same period last year, the firm earned $0.15 earnings per share. As a group, equities analysts forecast that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VERX has been the topic of several research reports. Citigroup raised Vertex from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Vertex in a research report on Wednesday, October 8th. DA Davidson lowered Vertex from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. The Goldman Sachs Group set a $43.00 price target on Vertex and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, Needham & Company LLC lowered their price target on Vertex from $60.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. One 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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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