William Blair Investment Management LLC Boosts Position in Vertex, Inc. $VERX

William Blair Investment Management LLC boosted its holdings in shares of Vertex, Inc. (NASDAQ:VERX) by 42.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,215,172 shares of the company’s stock after buying an additional 360,791 shares during the quarter. William Blair Investment Management LLC owned 0.76% of Vertex worth $24,267,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Advisors Asset Management Inc. raised its position in Vertex by 25.7% during 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 last quarter. Whittier Trust Co. of Nevada Inc. raised its position in Vertex by 0.4% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 137,913 shares of the company’s stock worth $3,456,000 after buying an additional 564 shares during the last quarter. Victory Capital Management Inc. raised its position in Vertex by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 8,354 shares of the company’s stock worth $207,000 after buying an additional 753 shares during the last quarter. AlphaQuest LLC raised its position in Vertex by 10.4% during the 3rd quarter. AlphaQuest LLC now owns 10,732 shares of the company’s stock worth $266,000 after buying an additional 1,014 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Vertex by 1.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,056 shares of the company’s stock worth $2,933,000 after buying an additional 1,121 shares during the last quarter. 70.32% of the stock is owned by hedge funds and other institutional investors.

Vertex Stock Performance

Shares of VERX opened at $13.44 on Tuesday. Vertex, Inc. has a 52-week low of $10.59 and a 52-week high of $42.44. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.37. The firm’s fifty day moving average is $12.57 and its two-hundred day moving average is $16.07. The stock has a market cap of $2.17 billion, a PE ratio of -268.80 and a beta of 0.81.

Vertex (NASDAQ:VERX) last announced its earnings results on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. Vertex had a negative net margin of 0.84% and a positive return on equity of 26.04%. The company had revenue of $196.65 million for the quarter, compared to analysts’ expectations of $194.82 million. During the same quarter in the previous year, the company posted $0.15 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. Research analysts forecast that Vertex, Inc. will post 0.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on VERX shares. Wall Street Zen raised shares of Vertex from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. The Goldman Sachs Group reissued a “buy” rating and set a $21.00 price target on shares of Vertex in a research report on Thursday, May 7th. Piper Sandler raised their price target on shares of Vertex from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Citigroup raised their price target on shares of Vertex from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Finally, BMO Capital Markets raised their price target on shares of Vertex from $14.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Seven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Vertex has an average rating of “Hold” and a consensus target price of $20.93.

Vertex Profile

Vertex Energy, Inc (NASDAQ: VERX) is a specialty refiner and marketer of transportation fuels and petrochemical feedstocks in the United States. The company collects and processes a variety of waste petroleum products, including used motor oil and industrial lubricants, which it converts into ultra-low-sulfur diesel, asphalt, and other refined products. By leveraging proprietary re-refining technologies and strategic feedstock sourcing, Vertex Energy aims to deliver cost-effective, lower-carbon fuel solutions to wholesale and retail customers across the country.

Headquartered in Houston, Texas, Vertex operates a network of refining and blending facilities in key regions, including the Central, Northeast and Mid-Atlantic markets.