Vertex, Inc. $VERX Stock Holdings Lowered by Brown Capital Management LLC

Brown Capital Management LLC trimmed its position in shares of Vertex, Inc. (NASDAQ:VERX) by 8.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,302,663 shares of the company’s stock after selling 125,731 shares during the period. Vertex accounts for approximately 1.3% of Brown Capital Management LLC’s holdings, making the stock its 29th biggest position. Brown Capital Management LLC owned approximately 0.82% of Vertex worth $32,293,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in VERX. DLD Asset Management LP acquired a new position in Vertex during the 2nd quarter valued at about $300,348,000. Wasatch Advisors LP acquired a new position in shares of Vertex during the 2nd quarter valued at $88,293,000. Massachusetts Financial Services Co. MA raised its stake in shares of Vertex by 231.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,567,902 shares of the company’s stock worth $88,448,000 after buying an additional 2,490,097 shares in the last quarter. Champlain Investment Partners LLC acquired a new stake in shares of Vertex in the second quarter valued at $60,381,000. Finally, Geneva Capital Management LLC boosted its stake in Vertex by 47.7% during the second quarter. Geneva Capital Management LLC now owns 3,017,735 shares of the company’s stock valued at $106,632,000 after buying an additional 974,530 shares in the last quarter. Institutional investors own 70.32% of the company’s stock.

Vertex Stock Performance

Shares of NASDAQ VERX opened at $18.70 on Tuesday. 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 one year low of $18.13 and a one year high of $60.71. The business’s 50-day moving average price is $19.66 and its two-hundred day moving average price is $23.41. The company has a market capitalization of $2.98 billion, a P/E ratio of -53.43, a price-to-earnings-growth ratio of 2.83 and a beta of 0.60.

Vertex (NASDAQ:VERX) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $192.11 million for the quarter, compared to the consensus estimate of $191.62 million. Vertex had a positive return on equity of 26.84% and a negative net margin of 7.32%.The firm’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.16 earnings per share. Analysts anticipate that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Vertex declared that its Board of Directors has approved a share buyback plan on Monday, November 3rd that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 4.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have recently weighed in on VERX. Weiss Ratings restated a “sell (d)” rating on shares of Vertex in a research report on Wednesday, January 21st. Stifel Nicolaus cut their target price on Vertex from $28.00 to $23.00 and set a “hold” rating on the stock in a research report on Tuesday, November 4th. DA Davidson decreased their price target on Vertex from $29.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, November 4th. Piper Sandler lowered shares of Vertex from an “overweight” rating to a “neutral” rating and set a $20.00 price objective for the company. in a research note on Monday. Finally, JMP Securities set a $37.00 target price on shares of Vertex in a research report on Tuesday, November 4th. Eleven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Vertex currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.60.

Vertex Company Profile

Vertex Energy, Inc (NASDAQ: VERX) is a specialty refiner and marketer of transportation fuels and petrochemical feedstocks in the United States. The company collects and processes a variety of waste petroleum products, including used motor oil and industrial lubricants, which it converts into ultra-low-sulfur diesel, asphalt, and other refined products. By leveraging proprietary re-refining technologies and strategic feedstock sourcing, Vertex Energy aims to deliver cost-effective, lower-carbon fuel solutions to wholesale and retail customers across the country.

Headquartered in Houston, Texas, Vertex operates a network of refining and blending facilities in key regions, including the Central, Northeast and Mid-Atlantic markets.