EFG Asset Management North America Corp. Has $3.78 Million Stake in Vertex, Inc. $VERX

EFG Asset Management North America Corp. grew its holdings in Vertex, Inc. (NASDAQ:VERX) by 97.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 106,828 shares of the company’s stock after buying an additional 52,695 shares during the period. EFG Asset Management North America Corp. owned 0.07% of Vertex worth $3,775,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp lifted its position in shares of Vertex by 31.0% in the second quarter. Fifth Third Bancorp now owns 1,467 shares of the company’s stock valued at $52,000 after buying an additional 347 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Vertex by 44.4% during the second quarter. Blue Trust Inc. now owns 1,664 shares of the company’s stock worth $59,000 after purchasing an additional 512 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Vertex by 25.7% during the first quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock worth $68,000 after purchasing an additional 395 shares during the period. US Bancorp DE increased its stake in shares of Vertex by 88.1% during the first quarter. US Bancorp DE now owns 2,024 shares of the company’s stock worth $71,000 after purchasing an additional 948 shares during the period. Finally, Neo Ivy Capital Management bought a new position in shares of Vertex during the first quarter worth approximately $97,000. 70.32% of the stock is owned by institutional investors and hedge funds.

Vertex Trading Down 3.8%

Shares of VERX stock opened at $19.91 on Wednesday. The stock’s fifty day moving average price is $24.69 and its two-hundred day moving average price is $31.50. The company has a market cap of $3.18 billion, a PE ratio of -56.88, a P/E/G ratio of 4.19 and a beta of 0.64. Vertex, Inc. has a fifty-two week low of $19.21 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.

Vertex (NASDAQ:VERX) last issued its earnings results on Monday, November 3rd. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $192.11 million for the quarter, compared to the consensus estimate of $191.62 million. Vertex had a positive return on equity of 28.61% and a negative net margin of 7.32%.The company’s revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 EPS. Vertex has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. Equities analysts predict that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on VERX. UBS Group reiterated a “market outperform” rating on shares of Vertex in a research note on Tuesday. Jefferies Financial Group set a $28.00 target price on Vertex in a research note on Monday. BMO Capital Markets lowered their target price on Vertex from $30.00 to $24.00 and set a “market perform” rating on the stock in a research note on Tuesday. Stephens began coverage on Vertex in a research note on Friday, September 26th. They set an “overweight” rating and a $30.00 target price on the stock. Finally, Robert W. Baird set a $25.00 price objective on Vertex in a research note on Tuesday. Twelve investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Vertex has a consensus rating of “Moderate Buy” and a consensus price target of $33.60.

About Vertex

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.