Inceptionr LLC Buys New Position in Vertex, Inc. $VERX

Inceptionr LLC purchased a new position in Vertex, Inc. (NASDAQ:VERX) in the second quarter, Holdings Channel.com reports. The fund purchased 17,709 shares of the company’s stock, valued at approximately $626,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS raised its holdings in Vertex by 27.2% in the 1st quarter. KLP Kapitalforvaltning AS now owns 15,900 shares of the company’s stock worth $557,000 after purchasing an additional 3,400 shares in the last quarter. Avantax Advisory Services Inc. increased its position in shares of Vertex by 30.9% during the first quarter. Avantax Advisory Services Inc. now owns 19,584 shares of the company’s stock valued at $686,000 after buying an additional 4,625 shares during the period. Cetera Investment Advisers raised its stake in Vertex by 12.1% in the first quarter. Cetera Investment Advisers now owns 8,570 shares of the company’s stock worth $300,000 after buying an additional 925 shares in the last quarter. Assetmark Inc. lifted its holdings in Vertex by 2,140.3% in the first quarter. Assetmark Inc. now owns 33,269 shares of the company’s stock worth $1,165,000 after buying an additional 31,784 shares during the period. Finally, TD Asset Management Inc lifted its holdings in Vertex by 57.4% in the first quarter. TD Asset Management Inc now owns 61,668 shares of the company’s stock worth $2,159,000 after buying an additional 22,494 shares during the period. 70.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Stifel Nicolaus reduced 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. Citigroup lowered Vertex from a “market outperform” rating to a “hold” rating in a research report on Tuesday, November 4th. Piper Sandler decreased their price objective on Vertex from $42.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, November 4th. Jefferies Financial Group set a $28.00 price objective on Vertex in a research report on Monday, November 3rd. Finally, Needham & Company LLC dropped their target price on shares of Vertex from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, November 4th. Twelve investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.60.

Vertex Stock Down 1.5%

Shares of NASDAQ:VERX opened at $19.53 on Friday. The stock has a fifty day simple moving average of $22.95 and a two-hundred day simple moving average of $29.32. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of -55.80, a PEG ratio of 3.96 and a beta of 0.64. Vertex, Inc. has a 12-month low of $18.54 and a 12-month high of $60.71. 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 (NASDAQ:VERX) last issued its quarterly 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 firm 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 company’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the company earned $0.16 earnings per share. Vertex has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. On average, research analysts anticipate that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Vertex announced that its Board of Directors has authorized a stock buyback plan on Monday, November 3rd that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to reacquire up to 4.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.