Vertex, Inc. $VERX Holdings Lifted by Bullseye Asset Management LLC

Bullseye Asset Management LLC increased its position in shares of Vertex, Inc. (NASDAQ:VERX) by 24.0% during the second quarter, Holdings Channel.com reports. The fund owned 111,699 shares of the company’s stock after acquiring an additional 21,639 shares during the quarter. Vertex accounts for approximately 2.0% of Bullseye Asset Management LLC’s investment portfolio, making the stock its 21st largest position. Bullseye Asset Management LLC’s holdings in Vertex were worth $3,947,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Victory Capital Management Inc. boosted its position in shares of Vertex by 122.4% during the 1st quarter. Victory Capital Management Inc. now owns 96,672 shares of the company’s stock valued at $3,384,000 after purchasing an additional 53,198 shares in the last quarter. IFP Advisors Inc bought a new stake in Vertex during the first quarter worth approximately $133,000. Y Intercept Hong Kong Ltd bought a new stake in Vertex during the first quarter worth approximately $376,000. KLP Kapitalforvaltning AS grew its position in Vertex by 27.2% in the first quarter. KLP Kapitalforvaltning AS now owns 15,900 shares of the company’s stock worth $557,000 after buying an additional 3,400 shares during the last quarter. Finally, Royce & Associates LP increased its holdings in shares of Vertex by 109.3% in the first quarter. Royce & Associates LP now owns 73,272 shares of the company’s stock valued at $2,565,000 after buying an additional 38,272 shares in the last quarter. 70.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

VERX has been the subject of several research reports. Needham & Company LLC reduced their price objective on Vertex from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, November 4th. Stephens started coverage on Vertex in a report on Friday, September 26th. They set an “overweight” rating and a $30.00 target price for the company. JMP Securities set a $37.00 price target on Vertex in a research note on Tuesday, November 4th. Citizens Jmp reduced their price objective on shares of Vertex from $50.00 to $37.00 and set a “market outperform” rating for the company in a research note on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Vertex in a report on Wednesday, October 8th. Twelve equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.60.

Vertex Stock Down 1.2%

Shares of Vertex stock opened at $19.56 on Tuesday. Vertex, Inc. has a 1 year low of $18.54 and a 1 year high of $60.71. The company has a market cap of $3.12 billion, a P/E ratio of -55.88, a P/E/G ratio of 4.01 and a beta of 0.64. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.27. The stock has a 50-day moving average price of $23.30 and a 200 day moving average price of $29.59.

Vertex (NASDAQ:VERX) last released its earnings results on Monday, November 3rd. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. The company had revenue of $192.11 million for the quarter, compared to analysts’ expectations of $191.62 million. Vertex had a positive return on equity of 26.84% and a negative net margin of 7.32%.The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.16 EPS. Vertex has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, analysts expect that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Vertex announced that its board has initiated a share repurchase program on Monday, November 3rd that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to buy up to 4.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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.