TimesSquare Capital Management LLC Increases Stock Holdings in Vertex, Inc. $VERX

TimesSquare Capital Management LLC lifted its stake in shares of Vertex, Inc. (NASDAQ:VERX) by 0.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,067,825 shares of the company’s stock after buying an additional 3,052 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Vertex were worth $37,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Fifth Third Bancorp lifted 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 during the period. Advisors Asset Management Inc. raised its stake in shares of Vertex by 25.7% during the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock worth $68,000 after buying an additional 395 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Vertex by 44.4% in the 2nd quarter. Blue Trust Inc. now owns 1,664 shares of the company’s stock valued at $59,000 after buying an additional 512 shares during the period. Strategic Advocates LLC raised its position in Vertex by 9.6% in the second quarter. Strategic Advocates LLC now owns 6,464 shares of the company’s stock worth $228,000 after acquiring an additional 565 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its position in shares of Vertex by 6.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 10,310 shares of the company’s stock worth $364,000 after purchasing an additional 630 shares in the last quarter. 70.32% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. UBS Group reiterated a “market outperform” rating on shares of Vertex in a research note on Tuesday, November 4th. Jefferies Financial Group set a $28.00 target price on shares of Vertex in a report on Monday, November 3rd. Bank of America decreased their price target on Vertex from $42.00 to $34.00 and set a “neutral” rating on the stock in a research note on Friday, August 8th. Stifel Nicolaus dropped their price objective on Vertex from $28.00 to $23.00 and set a “hold” rating for the company in a research note on Tuesday, November 4th. Finally, Citigroup lowered Vertex from a “market outperform” rating to a “hold” rating in a report on Tuesday, November 4th. Twelve research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Vertex presently has an average rating of “Moderate Buy” and an average target price of $32.60.

Vertex Trading Up 2.4%

Shares of VERX stock opened at $19.65 on Wednesday. The firm’s 50-day simple moving average is $24.10 and its 200-day simple moving average is $30.80. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.01 and a quick ratio of 1.01. Vertex, Inc. has a 1-year low of $18.54 and a 1-year high of $60.71. The firm has a market cap of $3.13 billion, a P/E ratio of -56.14, a PEG ratio of 3.89 and a beta of 0.64.

Vertex (NASDAQ:VERX) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. The firm had revenue of $192.11 million during the quarter, compared to analyst estimates of $191.62 million. Vertex had a negative net margin of 7.32% and a positive return on equity of 26.84%. Vertex’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 earnings per share. Vertex has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, equities analysts forecast that Vertex, Inc. will post 0.38 EPS for the current year.

Vertex declared that its board has approved a stock buyback plan on Monday, November 3rd that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 4.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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.