Squarepoint Ops LLC Acquires Shares of 81,665 Vertex, Inc. $VERX

Key Points

• Squarepoint Ops LLC acquired 81,665 Vertex shares in the second quarter, worth approximately $938,000, while institutional investors collectively own 70.32% of the company.
• Vertex stock opened at $12.30, down 2.2%, and remains well below its 12-month high of $26.54. The company trades at a very high price-to-earnings ratio of 615.31.
• Vertex exceeded quarterly earnings and revenue expectations, reporting $0.20 EPS and $203.97 million in revenue, with revenue up 10.5% year over year. Analysts’ average rating is Hold, with an average price target of $17.43.

Squarepoint Ops LLC acquired a new position in Vertex, Inc. (NASDAQ:VERX - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 81,665 shares of the company's stock, valued at approximately $938,000. Squarepoint Ops LLC owned approximately 0.05% of Vertex as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Vertex in the 1st quarter valued at about $37,796,000. William Blair Investment Management LLC raised its position in Vertex by 42.2% during the fourth quarter. William Blair Investment Management LLC now owns 1,215,172 shares of the company's stock valued at $24,267,000 after purchasing an additional 360,791 shares during the period. Hyperion Capital Advisors LP lifted its stake in shares of Vertex by 20.4% in the 4th quarter. Hyperion Capital Advisors LP now owns 650,000 shares of the company's stock valued at $12,980,000 after purchasing an additional 110,000 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Vertex by 1,906.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 935,668 shares of the company's stock worth $11,125,000 after purchasing an additional 889,042 shares during the period. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of Vertex during the 1st quarter valued at approximately $4,836,000. 70.32% of the stock is currently owned by institutional investors.

Vertex Trading Down 2.2%

VERX stock opened at $12.30 on Friday. Vertex, Inc. has a 12 month low of $10.21 and a 12 month high of $26.54. The firm's 50-day moving average is $12.85 and its 200 day moving average is $12.75. The company has a market capitalization of $2.00 billion, a PE ratio of 615.31 and a beta of 0.83. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.87 and a quick ratio of 0.87.

Vertex (NASDAQ:VERX - Get Free Report) last issued its earnings results on Monday, August 3rd. The company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.01. The business had revenue of $203.97 million for the quarter, compared to the consensus estimate of $202.21 million. Vertex had a net margin of 0.45% and a return on equity of 29.00%. The company's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 EPS. On average, research analysts anticipate that Vertex, Inc. will post 0.54 EPS for the current year.

Wall Street Analyst Weigh In

VERX has been the subject of a number of analyst reports. DA Davidson lowered their price target on Vertex from $15.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, August 4th. Morgan Stanley restated an "equal weight" rating and issued a $15.00 target price (down from $19.00) on shares of Vertex in a report on Tuesday, July 21st. Wall Street Zen upgraded shares of Vertex from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Needham & Company LLC reissued a "buy" rating on shares of Vertex in a research note on Monday, June 8th. Finally, TD Cowen began coverage on Vertex in a research note on Monday, June 29th. They set a "buy" rating and a $14.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $17.43.

Vertex Profile

Vertex, Inc NASDAQ: VERX is a provider of tax technology solutions for businesses. The company develops cloud-based software designed to help organizations calculate, manage and comply with transaction tax obligations across complex jurisdictions and regulatory environments.

Vertex's product portfolio includes solutions for indirect tax determination and compliance, including sales and use tax, value-added tax and other transaction taxes. Its offerings also support tax data management, tax returns, exemption certificate management, tax reporting and related workflows.

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