AlphaQuest LLC Sells 7,288 Shares of Vertex, Inc. $VERX

AlphaQuest LLC lowered its stake in Vertex, Inc. (NASDAQ:VERX) by 42.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,718 shares of the company’s stock after selling 7,288 shares during the period. AlphaQuest LLC’s holdings in Vertex were worth $343,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of VERX. Fifth Third Bancorp increased 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 worth $52,000 after purchasing an additional 347 shares during the period. Blue Trust Inc. increased its position in shares of Vertex by 44.4% in 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 position in shares of Vertex by 25.7% in 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 position in shares of Vertex by 88.1% in 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 in the first quarter worth $97,000. Institutional investors own 70.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Jefferies Financial Group restated a “buy” rating and issued a $35.00 price target on shares of Vertex in a research report on Tuesday, October 21st. Citigroup decreased their target price on Vertex from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday. BMO Capital Markets reiterated a “market perform” rating on shares of Vertex in a research report on Thursday, August 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Vertex in a research report on Wednesday, October 8th. Finally, Needham & Company LLC decreased their target price on Vertex from $60.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Nine equities research 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Vertex Stock Performance

NASDAQ:VERX opened at $22.60 on Friday. The stock has a market cap of $3.60 billion, a P/E ratio of -68.48, a price-to-earnings-growth ratio of 4.71 and a beta of 0.63. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.36. The stock’s 50-day moving average is $24.94 and its 200-day moving average is $31.98. Vertex, Inc. has a 1-year low of $22.59 and a 1-year high of $60.71.

Vertex (NASDAQ:VERX) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. The company had revenue of $184.56 million for the quarter, compared to analysts’ expectations of $184.60 million. Vertex had a positive return on equity of 27.16% and a negative net margin of 7.09%.The business’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.15 earnings per share. Equities research analysts anticipate that Vertex, Inc. will post 0.38 earnings per share for the current year.

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.