Chicago Capital LLC Has $15.28 Million Position in Vertex, Inc. $VERX

Key Points

• Chicago Capital LLC has increased its stake in Vertex, Inc. by 14.4%, now holding a position valued at approximately $15.28 million.
• Various institutional investors have significantly boosted their positions in Vertex, leading to institutional ownership of 70.32% of the company.
• Analysts have mixed ratings on Vertex, with a range of projections indicating an average target price of $42.71 and a current stock price of $25.40.

Chicago Capital LLC raised its holdings in Vertex, Inc. (NASDAQ:VERX - Free Report) by 14.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 432,453 shares of the company's stock after acquiring an additional 54,349 shares during the quarter. Chicago Capital LLC owned about 0.27% of Vertex worth $15,281,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VERX. T. Rowe Price Investment Management Inc. boosted its stake in Vertex by 63.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,429,416 shares of the company's stock valued at $85,054,000 after acquiring an additional 939,031 shares during the last quarter. Fiera Capital Corp bought a new position in Vertex in the first quarter valued at approximately $27,399,000. Conestoga Capital Advisors LLC boosted its stake in Vertex by 30.3% in the first quarter. Conestoga Capital Advisors LLC now owns 2,947,740 shares of the company's stock valued at $103,200,000 after acquiring an additional 686,145 shares during the last quarter. Geneva Capital Management LLC boosted its stake in Vertex by 42.1% in the first quarter. Geneva Capital Management LLC now owns 2,043,205 shares of the company's stock valued at $71,533,000 after acquiring an additional 605,617 shares during the last quarter. Finally, Aberdeen Group plc boosted its stake in Vertex by 46.9% in the first quarter. Aberdeen Group plc now owns 1,511,846 shares of the company's stock valued at $52,128,000 after acquiring an additional 482,669 shares during the last quarter. 70.32% of the stock is owned by institutional investors.

Vertex Trading Up 1.7%

Shares of NASDAQ:VERX opened at $25.40 on Tuesday. Vertex, Inc. has a 12 month low of $23.13 and a 12 month high of $60.71. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.36. The company's fifty day simple moving average is $27.17 and its 200 day simple moving average is $33.75. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of -76.97, a PEG ratio of 5.18 and a beta of 0.68.

Vertex (NASDAQ:VERX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.15 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $184.56 million for the quarter, compared to analyst estimates of $184.60 million. During the same period last year, the business posted $0.15 earnings per share. The firm's quarterly revenue was up 14.6% on a year-over-year basis. As a group, research analysts forecast that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VERX. DA Davidson cut shares of Vertex from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th. BMO Capital Markets reiterated a "market perform" rating on shares of Vertex in a report on Thursday, August 7th. Needham & Company LLC cut their target price on shares of Vertex from $60.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. The Goldman Sachs Group set a $43.00 target price on shares of Vertex and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, Citigroup upgraded shares of Vertex from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Vertex currently has an average 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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