Federated Hermes Inc. Buys Shares of 50,605 Vertex, Inc. (NASDAQ:VERX)

Federated Hermes Inc. purchased a new position in shares of Vertex, Inc. (NASDAQ:VERX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 50,605 shares of the company’s stock, valued at approximately $1,824,000.

Several other hedge funds also recently modified their holdings of VERX. Blue Trust Inc. bought a new position in Vertex during the second quarter worth $28,000. Quest Partners LLC acquired a new position in shares of Vertex during the second quarter valued at about $37,000. Sandia Investment Management LP bought a new stake in shares of Vertex in the first quarter valued at about $159,000. SG Americas Securities LLC acquired a new stake in Vertex during the first quarter worth about $166,000. Finally, Lazard Asset Management LLC acquired a new position in Vertex in the 1st quarter valued at approximately $192,000. 59.10% of the stock is owned by institutional investors.

Insider Transactions at Vertex

In related news, CFO John R. Schwab sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $35.81, for a total value of $895,250.00. Following the completion of the sale, the chief financial officer now owns 53,104 shares of the company’s stock, valued at $1,901,654.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Vertex news, Director John Richard Stamm sold 16,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $35.95, for a total transaction of $575,200.00. Following the transaction, the director now directly owns 21,635 shares in the company, valued at approximately $777,778.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO John R. Schwab sold 25,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $35.81, for a total transaction of $895,250.00. Following the completion of the transaction, the chief financial officer now directly owns 53,104 shares in the company, valued at approximately $1,901,654.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,699,900 shares of company stock worth $64,107,653. Corporate insiders own 45.00% of the company’s stock.

Analysts Set New Price Targets

VERX has been the topic of several recent research reports. Baird R W raised Vertex to a “strong-buy” rating in a report on Tuesday, July 23rd. Needham & Company LLC restated a “buy” rating and issued a $45.00 price objective on shares of Vertex in a research note on Thursday, June 13th. JMP Securities raised their price objective on shares of Vertex from $42.00 to $47.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 31st. Robert W. Baird started coverage on shares of Vertex in a research note on Tuesday, July 23rd. They issued an “outperform” rating and a $43.00 target price on the stock. Finally, Citigroup raised their price target on shares of Vertex from $32.00 to $36.00 and gave the stock a “neutral” rating in a research note on Friday, June 28th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Vertex presently has an average rating of “Moderate Buy” and a consensus price target of $37.30.

Vertex Trading Up 0.9 %

VERX stock opened at $37.41 on Friday. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of 935.25, a P/E/G ratio of 10.40 and a beta of 0.69. The business has a fifty day moving average price of $36.96 and a 200 day moving average price of $33.86. Vertex, Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $40.05.

Vertex (NASDAQ:VERX) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. Vertex had a return on equity of 22.32% and a net margin of 3.20%. The business had revenue of $161.10 million during the quarter, compared to analysts’ expectations of $160.66 million. During the same period in the previous year, the business posted $0.04 earnings per share. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. Analysts expect that Vertex, Inc. will post 0.34 EPS for the current fiscal 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.