Vertex, Inc. $VERX Stock: CenterBook Partners LP Raises Position

CenterBook Partners LP raised its position in shares of Vertex, Inc. (NASDAQ:VERX) by 257.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,419 shares of the company’s stock after acquiring an additional 54,301 shares during the period. CenterBook Partners LP’s holdings in Vertex were worth $888,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in VERX. Quantinno Capital Management LP raised its holdings in shares of Vertex by 275.2% in the first quarter. Quantinno Capital Management LP now owns 141,793 shares of the company’s stock worth $1,686,000 after buying an additional 104,006 shares during the period. Corient Private Wealth LP purchased a new position in Vertex during the 2nd quarter valued at $1,766,000. Squarepoint Ops LLC purchased a new position in Vertex during the 2nd quarter valued at $938,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Vertex in the 1st quarter valued at $37,796,000. Finally, Arrowstreet Capital Limited Partnership grew its position in Vertex by 1,906.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 935,668 shares of the company’s stock valued at $11,125,000 after acquiring an additional 889,042 shares during the last quarter. Hedge funds and other institutional investors own 70.32% of the company’s stock.

Vertex Stock Performance

Shares of VERX opened at $17.84 on Wednesday. Vertex, Inc. has a 12 month low of $10.21 and a 12 month high of $20.85. The stock has a fifty day moving average price of $13.55 and a 200-day moving average price of $13.26. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.88. The firm has a market cap of $2.89 billion, a PE ratio of 33.92 and a beta of 0.77.

Vertex (NASDAQ:VERX) last released its earnings results on Wednesday, November 4th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. Vertex had a negative net margin of 5.83% and a positive return on equity of 36.83%. The company had revenue of $213.28 million for the quarter, compared to the consensus estimate of $209.72 million. During the same quarter in the previous year, the firm earned $0.17 EPS. Vertex’s revenue was up 11.0% compared to the same quarter last year. Equities research analysts predict that Vertex, Inc. will post 0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

VERX has been the topic of a number of research analyst reports. TD Cowen cut their price target on shares of Vertex from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, October 13th. Weiss Ratings cut shares of Vertex from a “sell (d+)” rating to a “sell (e+)” rating in a research report on Monday. Robert W. Baird lowered their price objective on shares of Vertex from $19.00 to $17.00 and set an “outperform” rating for the company in a research report on Tuesday, August 4th. DA Davidson set a $16.00 target price on shares of Vertex in a research report on Thursday, November 5th. Finally, Stephens decreased their price target on shares of Vertex from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.79.

Vertex Company Profile

Vertex, Inc. provides tax technology and related services to businesses. Founded in 1978 and headquartered in King of Prussia, Pennsylvania, the company develops software that helps organizations manage the complexities of transaction taxes. Its products support tax determination and calculation, compliance and reporting, tax data management, and exemption certificate management. Vertex solutions are designed to integrate with business systems such as enterprise resource planning and e-commerce platforms, helping companies automate tax processes across their operations.