William Blair Investment Management LLC Buys 34,646 Shares of Vertex, Inc. $VERX

William Blair Investment Management LLC increased its stake in Vertex, Inc. (NASDAQ:VERXFree Report) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 761,595 shares of the company’s stock after acquiring an additional 34,646 shares during the period. William Blair Investment Management LLC owned about 0.48% of Vertex worth $26,911,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Fifth Third Bancorp lifted its stake in shares of Vertex by 31.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,467 shares of the company’s stock valued at $52,000 after acquiring an additional 347 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in Vertex by 25.7% in the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock worth $68,000 after buying an additional 395 shares during the period. Blue Trust Inc. lifted its holdings in Vertex by 44.4% in the 2nd quarter. Blue Trust Inc. now owns 1,664 shares of the company’s stock worth $59,000 after buying an additional 512 shares during the period. Strategic Advocates LLC lifted its holdings in Vertex by 9.6% in the 2nd quarter. Strategic Advocates LLC now owns 6,464 shares of the company’s stock worth $228,000 after buying an additional 565 shares during the period. Finally, State of Wyoming lifted its holdings in Vertex by 16.1% in the 1st quarter. State of Wyoming now owns 4,669 shares of the company’s stock worth $163,000 after buying an additional 649 shares during the period. Institutional investors own 70.32% of the company’s stock.

Vertex Stock Down 0.2%

Shares of NASDAQ:VERX opened at $24.33 on Monday. Vertex, Inc. has a 52-week low of $23.13 and a 52-week high of $60.71. The firm has a market capitalization of $3.88 billion, a P/E ratio of -73.73, a P/E/G ratio of 5.02 and a beta of 0.63. The stock has a 50 day moving average price of $25.05 and a 200-day moving average price of $32.69. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.99 and a current ratio of 0.99.

Vertex (NASDAQ:VERXGet Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. Vertex had a positive return on equity of 27.16% and a negative net margin of 7.09%.The firm had revenue of $184.56 million during the quarter, compared to analyst estimates of $184.60 million. During the same quarter in the prior year, the company earned $0.15 EPS. The business’s revenue was up 14.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Citigroup upgraded Vertex from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. BMO Capital Markets reiterated a “market perform” rating on shares of Vertex in a report on Thursday, August 7th. The Goldman Sachs Group set a $43.00 price objective on Vertex and gave the stock a “buy” rating in a report on Thursday, August 7th. Needham & Company LLC dropped their price objective on Vertex from $60.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Finally, Stephens began coverage on Vertex in a report on Friday, September 26th. They issued an “overweight” rating and a $30.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.71.

Get Our Latest Stock Report on VERX

Vertex Company Profile

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Vertex (NASDAQ:VERX)

Receive News & Ratings for Vertex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex and related companies with MarketBeat.com's FREE daily email newsletter.