DLD Asset Management LP Invests $300.35 Million in Vertex, Inc. $VERX

DLD Asset Management LP bought a new stake in Vertex, Inc. (NASDAQ:VERX) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,500,000 shares of the company’s stock, valued at approximately $300,348,000. Vertex comprises 1.2% of DLD Asset Management LP’s portfolio, making the stock its 16th biggest position. DLD Asset Management LP owned approximately 5.36% of Vertex as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of VERX. Conestoga Capital Advisors LLC grew its stake in Vertex by 15.3% in the second quarter. Conestoga Capital Advisors LLC now owns 3,398,435 shares of the company’s stock valued at $120,084,000 after purchasing an additional 450,695 shares in the last quarter. 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 buying an additional 974,530 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Vertex by 63.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,429,416 shares of the company’s stock valued at $85,054,000 after buying an additional 939,031 shares in the last quarter. Champlain Investment Partners LLC acquired a new position in Vertex during the second quarter worth $60,381,000. Finally, Geode Capital Management LLC raised 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 worth $54,258,000 after acquiring an additional 185,762 shares in the last quarter. Institutional investors own 70.32% of the company’s stock.

Vertex Price Performance

Vertex stock opened at $19.53 on Thursday. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of -55.80, a PEG ratio of 4.02 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. Vertex, Inc. has a 12 month low of $18.54 and a 12 month high of $60.71. The stock’s 50 day moving average is $23.08 and its 200-day moving average is $29.39.

Vertex (NASDAQ:VERX) last released its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $191.62 million. Vertex had a positive return on equity of 26.84% and a negative net margin of 7.32%.The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 EPS. Vertex has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. Equities research analysts expect that Vertex, Inc. will post 0.38 EPS for the current year.

Vertex announced that its board has initiated a share buyback plan on Monday, November 3rd that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to buy up to 4.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JMP Securities set a $37.00 price objective on shares of Vertex in a research note on Tuesday, November 4th. Bank of America lowered their price target on Vertex from $42.00 to $34.00 and set a “neutral” rating on the stock in a research report on Friday, August 8th. Stephens began coverage on Vertex in a research report on Friday, September 26th. They issued an “overweight” rating and a $30.00 price objective for the company. BMO Capital Markets reduced their target price on Vertex from $30.00 to $24.00 and set a “market perform” rating for the company in a research note on Tuesday, November 4th. Finally, Stifel Nicolaus dropped their price target on Vertex from $28.00 to $23.00 and set a “hold” rating on the stock in a research note on Tuesday, November 4th. 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.60.

Vertex Company Profile

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.