Diversified Trust Co Invests $672,000 in Vertex, Inc. $VERX

Key Points

• Diversified Trust Co has invested $672,000 in Vertex, Inc. by acquiring 19,012 shares during the second quarter.
• Vertex's stock recently saw an increase of 2.3% and has a market cap of $4.10 billion, with a 52-week range from $23.13 to $60.71.
• Research analysts have mixed ratings on Vertex, with recommendations ranging from a "strong-buy" to a "hold", and a consensus price target of $43.69.

Diversified Trust Co acquired a new position in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 19,012 shares of the company's stock, valued at approximately $672,000.

Several other hedge funds have also made changes to their positions in the business. Conestoga Capital Advisors LLC boosted its holdings in shares of Vertex by 30.3% during the first quarter. Conestoga Capital Advisors LLC now owns 2,947,740 shares of the company's stock worth $103,200,000 after purchasing an additional 686,145 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings 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. Geneva Capital Management LLC boosted its holdings 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. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Vertex by 32.2% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,531,939 shares of the company's stock valued at $53,633,000 after acquiring an additional 373,090 shares during the last quarter. Finally, Aberdeen Group plc boosted its holdings 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. Institutional investors and hedge funds own 70.32% of the company's stock.

Vertex Stock Up 2.3%

Shares of Vertex stock opened at $25.74 on Tuesday. 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 firm has a market cap of $4.10 billion, a P/E ratio of -78.00, a P/E/G ratio of 5.21 and a beta of 0.68. Vertex, Inc. has a fifty-two week low of $23.13 and a fifty-two week high of $60.71. The business has a 50-day moving average price of $28.18 and a 200 day moving average price of $34.02.

Vertex (NASDAQ:VERX - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $184.56 million during the quarter, compared to analyst estimates of $184.60 million. Vertex had a positive return on equity of 27.16% and a negative net margin of 7.09%.Vertex's quarterly revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.15 earnings per share. On average, sell-side analysts forecast that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on VERX shares. Citigroup upgraded Vertex from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. Needham & Company LLC reduced their target price on Vertex from $60.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Bank of America reduced their target price on Vertex from $42.00 to $34.00 and set a "neutral" rating on the stock in a report on Friday, August 8th. DA Davidson cut Vertex from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th. Finally, JMP Securities set a $50.00 price objective on Vertex and gave the stock a "market outperform" rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Vertex presently has an average rating of "Moderate Buy" and a consensus price target of $43.69.

Vertex Company 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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