Vertex, Inc. $VERX Stock: Gagnon Securities LLC Raises Position

Gagnon Securities LLC increased its position in Vertex, Inc. (NASDAQ:VERX) by 37.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,045,187 shares of the company’s stock after purchasing an additional 284,161 shares during the period. Vertex comprises about 2.1% of Gagnon Securities LLC’s investment portfolio, making the stock its 20th biggest holding. Gagnon Securities LLC’s holdings in Vertex were worth $12,312,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Vertex during the 1st quarter valued at $37,796,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Vertex by 1,906.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 935,668 shares of the company’s stock worth $11,125,000 after buying an additional 889,042 shares during the period. Renaissance Technologies LLC boosted its position in shares of Vertex by 8.1% in the first quarter. Renaissance Technologies LLC now owns 290,500 shares of the company’s stock worth $3,454,000 after buying an additional 21,700 shares during the period. North Star Asset Management Inc. purchased a new position in shares of Vertex during the second quarter valued at $2,899,000. Finally, Allianz Asset Management GmbH purchased a new position in shares of Vertex during the second quarter valued at $2,182,000. 70.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VERX has been the topic of several recent analyst reports. TD Cowen dropped their price target on Vertex from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, October 13th. DA Davidson set a $16.00 price objective on Vertex in a research report on Thursday, November 5th. Weiss Ratings lowered Vertex from a “sell (d+)” rating to a “sell (e+)” rating in a research report on Monday. Stephens lowered their target price on Vertex from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 4th. Finally, BMO Capital Markets upped their target price on Vertex from $14.00 to $15.00 and gave the company a “market perform” rating in a report on Tuesday, August 4th. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Vertex has an average rating of “Hold” and an average target price of $18.79.

Vertex Stock Performance

VERX stock opened at $17.83 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.88. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of -61.48 and a beta of 0.77. Vertex, Inc. has a 12 month low of $10.21 and a 12 month high of $20.85. The firm has a 50 day moving average of $13.63 and a two-hundred day moving average of $13.25.

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

Vertex 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.