Whittier Trust Co. of Nevada Inc. Acquires 4,784 Shares of Vertex, Inc. $VERX

Whittier Trust Co. of Nevada Inc. increased its holdings in Vertex, Inc. (NASDAQ:VERX) by 3.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,349 shares of the company’s stock after acquiring an additional 4,784 shares during the quarter. Whittier Trust Co. of Nevada Inc. owned about 0.09% of Vertex worth $4,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp increased its stake in shares of Vertex by 31.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,467 shares of the company’s stock worth $52,000 after acquiring an additional 347 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Vertex by 44.4% in the 2nd quarter. Blue Trust Inc. now owns 1,664 shares of the company’s stock worth $59,000 after acquiring an additional 512 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Vertex by 25.7% in the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock worth $68,000 after acquiring an additional 395 shares in the last quarter. US Bancorp DE increased its stake in shares of Vertex by 88.1% in the 1st quarter. US Bancorp DE now owns 2,024 shares of the company’s stock worth $71,000 after acquiring an additional 948 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new position in shares of Vertex in the 1st quarter worth about $97,000. 70.32% of the stock is currently owned by institutional investors.

Vertex Stock Performance

Shares of VERX stock opened at $25.94 on Wednesday. Vertex, Inc. has a one year low of $23.13 and a one year high of $60.71. The company’s 50-day moving average is $25.08 and its 200 day moving average is $32.58. The company has a market capitalization of $4.14 billion, a price-to-earnings ratio of -78.60, a price-to-earnings-growth ratio of 5.29 and a beta of 0.63. 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 announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. The firm had revenue of $184.56 million for the quarter, compared to the consensus estimate of $184.60 million. Vertex had a negative net margin of 7.09% and a positive return on equity of 27.16%. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.15 EPS. Sell-side analysts expect that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Needham & Company LLC decreased their price target on shares of Vertex from $60.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Citigroup raised shares of Vertex from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Bank of America cut their price objective on shares of Vertex from $42.00 to $34.00 and set a “neutral” rating on the stock in a research report on Friday, August 8th. Weiss Ratings reissued a “sell (d)” rating on shares of Vertex in a research report on Wednesday, October 8th. Finally, Stephens began coverage on shares of Vertex in a research report on Friday, September 26th. They set an “overweight” rating and a $30.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.79.

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.