Vertex, Inc. $VERX Shares Acquired by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey lifted its position in Vertex, Inc. (NASDAQ:VERX) by 27.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,752 shares of the company’s stock after acquiring an additional 3,198 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Vertex were worth $521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of VERX. Conestoga Capital Advisors LLC lifted its holdings in shares of Vertex by 15.3% during the second quarter. Conestoga Capital Advisors LLC now owns 3,398,435 shares of the company’s stock worth $120,084,000 after purchasing an additional 450,695 shares during the period. Geneva Capital Management LLC boosted its holdings in shares of Vertex by 47.7% in the 2nd quarter. Geneva Capital Management LLC now owns 3,017,735 shares of the company’s stock valued at $106,632,000 after acquiring an additional 974,530 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Vertex by 63.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,429,416 shares of the company’s stock worth $85,054,000 after purchasing an additional 939,031 shares during the last quarter. Geode Capital Management LLC lifted its position in Vertex by 13.8% during the second quarter. Geode Capital Management LLC now owns 1,535,368 shares of the company’s stock valued at $54,258,000 after purchasing an additional 185,762 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position in Vertex by 32.2% during 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 purchasing an additional 373,090 shares during the period. 70.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VERX has been the topic of several analyst reports. Stifel Nicolaus dropped their target price on Vertex from $28.00 to $23.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th. Citizens Jmp lowered their price target on shares of Vertex from $50.00 to $37.00 and set a “market outperform” rating on the stock in a report on Tuesday, November 4th. Needham & Company LLC dropped their price target on shares of Vertex from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, November 4th. UBS Group reiterated a “market outperform” rating on shares of Vertex in a research report on Tuesday, November 4th. Finally, Bank of America dropped their target price on Vertex from $42.00 to $34.00 and set a “neutral” rating on the stock in a research report on Friday, August 8th. Twelve analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $32.60.

Vertex Price Performance

Shares of NASDAQ VERX opened at $19.56 on Tuesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a fifty day moving average of $23.30 and a 200 day moving average of $29.59. The firm has a market cap of $3.12 billion, a PE ratio of -55.88, a PEG ratio of 4.01 and a beta of 0.64. Vertex, Inc. has a one year low of $18.54 and a one year high of $60.71.

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

Vertex announced that its board has approved a stock buyback program on Monday, November 3rd that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to repurchase up to 4.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management 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.