Oppenheimer Asset Management Inc. Boosts Position in Vertex, Inc. $VERX

Oppenheimer Asset Management Inc. raised its position in Vertex, Inc. (NASDAQ:VERX) by 194.6% during the second quarter, Holdings Channel reports. The fund owned 54,167 shares of the company’s stock after acquiring an additional 35,779 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Vertex were worth $1,914,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in VERX. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Vertex by 3,751.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,087 shares of the company’s stock valued at $283,000 after purchasing an additional 7,877 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Vertex in the first quarter worth approximately $339,000. Envestnet Asset Management Inc. grew its position in Vertex by 25.4% during the first quarter. Envestnet Asset Management Inc. now owns 224,762 shares of the company’s stock valued at $7,869,000 after buying an additional 45,494 shares during the period. MeadowBrook Investment Advisors LLC increased its holdings in Vertex by 29.0% during the first quarter. MeadowBrook Investment Advisors LLC now owns 6,490 shares of the company’s stock valued at $227,000 after buying an additional 1,460 shares during the last quarter. Finally, Banque Pictet & Cie SA raised its position in Vertex by 63.5% in the first quarter. Banque Pictet & Cie SA now owns 1,003,470 shares of the company’s stock worth $35,131,000 after acquiring an additional 389,907 shares during the period. 70.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on VERX. BMO Capital Markets reissued a “market perform” rating on shares of Vertex in a research report on Thursday, August 7th. Stephens began coverage on Vertex in a research report on Friday, September 26th. They set an “overweight” rating and a $30.00 target price on the stock. Citigroup cut their price target on Vertex from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday. JMP Securities set a $50.00 price target on Vertex and gave the stock a “market outperform” rating in a research report on Thursday, August 7th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $35.00 price objective on shares of Vertex in a research report on Tuesday, October 21st. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Vertex presently has an average rating of “Moderate Buy” and an average price target of $41.00.

Vertex Trading Down 2.8%

Shares of Vertex stock opened at $22.60 on Friday. Vertex, Inc. has a fifty-two week low of $22.59 and a fifty-two week high of $60.71. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $3.60 billion, a P/E ratio of -68.48, a P/E/G ratio of 4.71 and a beta of 0.63. The company has a fifty day moving average of $24.94 and a 200 day moving average of $31.98.

Vertex (NASDAQ:VERX) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. The business had revenue of $184.56 million for the quarter, compared to the consensus estimate of $184.60 million. Vertex had a positive return on equity of 27.16% and a negative net margin of 7.09%.The business’s revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.15 earnings per share. On average, sell-side analysts anticipate that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Vertex 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.