IFP Advisors Inc Sells 1,087 Shares of Vertex, Inc. $VERX

IFP Advisors Inc lessened its position in shares of Vertex, Inc. (NASDAQ:VERX) by 28.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 2,703 shares of the company’s stock after selling 1,087 shares during the period. IFP Advisors Inc’s holdings in Vertex were worth $96,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Callan Family Office LLC bought a new position in Vertex during the second quarter worth $370,000. Gagnon Securities LLC raised its stake in Vertex by 0.5% during the second quarter. Gagnon Securities LLC now owns 269,846 shares of the company’s stock worth $9,535,000 after buying an additional 1,226 shares during the last quarter. LGT Fund Management Co Ltd. raised its stake in Vertex by 15.6% during the second quarter. LGT Fund Management Co Ltd. now owns 101,360 shares of the company’s stock worth $3,582,000 after buying an additional 13,660 shares during the last quarter. Chicago Capital LLC raised its stake in Vertex by 14.4% during the second quarter. Chicago Capital LLC now owns 432,453 shares of the company’s stock worth $15,281,000 after buying an additional 54,349 shares during the last quarter. Finally, Norris Perne & French LLP MI raised its stake in Vertex by 7.6% during the second quarter. Norris Perne & French LLP MI now owns 252,028 shares of the company’s stock worth $8,905,000 after buying an additional 17,736 shares during the last quarter. Institutional investors own 70.32% of the company’s stock.

Vertex Trading Down 0.2%

NASDAQ:VERX opened at $24.33 on Monday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a 50-day moving average of $25.05 and a 200-day moving average of $32.69. The company has a market cap of $3.88 billion, a PE ratio of -73.73, a PEG ratio of 5.02 and a beta of 0.63. Vertex, Inc. has a one year low of $23.13 and a one year high of $60.71.

Vertex (NASDAQ:VERX) last posted its earnings results on Wednesday, August 6th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01. The company had revenue of $184.56 million during 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 firm’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 earnings per share. As a group, equities research analysts expect that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Bank of America lowered their target price on shares of Vertex from $42.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, August 8th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Vertex in a research note on Thursday, August 7th. 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. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Vertex in a research note on Wednesday, October 8th. Finally, Stephens initiated coverage on shares of Vertex in a research note on Friday, September 26th. They issued an “overweight” rating and a $30.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Vertex currently has an average rating of “Moderate Buy” and an average price target of $42.71.

Vertex Company 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.