19,700 Shares in Vertex, Inc. $VERX Acquired by Strs Ohio

Key Points

• Strs Ohio invested approximately $690,000 in Vertex, Inc. by purchasing 19,700 shares during the first quarter, according to their 13F SEC filing.
• Several hedge funds have also increased their stakes in Vertex, with 70.32% of the stock currently held by institutional investors.
• Vertex's recent quarterly earnings topped estimates with an EPS of $0.15, and analysts have given the stock a consensus target price of $43.69.

Strs Ohio purchased a new stake in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 19,700 shares of the company's stock, valued at approximately $690,000.

Several other large investors have also bought and sold shares of VERX. Advisors Asset Management Inc. boosted its stake in Vertex by 25.7% during the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company's stock valued at $68,000 after purchasing an additional 395 shares during the last quarter. Cetera Investment Advisers raised its holdings in Vertex by 8.3% during the 4th quarter. Cetera Investment Advisers now owns 7,645 shares of the company's stock valued at $408,000 after buying an additional 588 shares during the period. State of Wyoming grew its position in Vertex by 16.1% in the 1st quarter. State of Wyoming now owns 4,669 shares of the company's stock valued at $163,000 after acquiring an additional 649 shares during the last quarter. Vident Advisory LLC raised its holdings in shares of Vertex by 7.3% in the first quarter. Vident Advisory LLC now owns 10,205 shares of the company's stock valued at $357,000 after acquiring an additional 690 shares in the last quarter. Finally, Versant Capital Management Inc bought a new stake in shares of Vertex in the 1st quarter valued at about $28,000. 70.32% of the stock is owned by institutional investors.

Vertex Stock Down 0.1%

Shares of Vertex stock traded down $0.03 during trading on Tuesday, reaching $25.72. The stock had a trading volume of 118,390 shares, compared to its average volume of 1,363,597. Vertex, Inc. has a 52 week low of $23.13 and a 52 week high of $60.71. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of -77.75, a P/E/G ratio of 5.21 and a beta of 0.68. The stock has a fifty day moving average price of $28.18 and a two-hundred day moving average price of $34.02.

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, beating analysts' consensus estimates of $0.14 by $0.01. The firm had revenue of $184.56 million for 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%.The company's revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 EPS. Sell-side analysts predict that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on VERX. JMP Securities set a $50.00 price objective on Vertex and gave the stock a "market outperform" rating in a research report on Thursday, August 7th. Needham & Company LLC lowered their price target on shares of Vertex from $60.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Bank of America reduced their price objective on Vertex from $42.00 to $34.00 and set a "neutral" rating for the company in a research note on Friday, August 8th. Citigroup upgraded Vertex from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Finally, The Goldman Sachs Group set a $43.00 price target on shares of Vertex and gave the company a "buy" rating in a report on Thursday, August 7th. One 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 stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $43.69.

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.