Herald Investment Management Ltd Has $4.96 Million Position in Vertex, Inc. $VERX

Herald Investment Management Ltd boosted its holdings in shares of Vertex, Inc. (NASDAQ:VERX) by 81.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 200,000 shares of the company’s stock after purchasing an additional 90,000 shares during the period. Herald Investment Management Ltd’s holdings in Vertex were worth $4,958,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of Vertex in the 2nd quarter worth approximately $54,000. Blue Trust Inc. raised its stake in Vertex by 44.4% during the second quarter. Blue Trust Inc. now owns 1,664 shares of the company’s stock worth $59,000 after acquiring an additional 512 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Vertex by 25.7% during the first quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock valued at $68,000 after acquiring an additional 395 shares during the period. State of Wyoming lifted its holdings in shares of Vertex by 37.9% during the third quarter. State of Wyoming now owns 6,466 shares of the company’s stock valued at $160,000 after acquiring an additional 1,777 shares during the period. Finally, Osaic Holdings Inc. grew its holdings in shares of Vertex by 108.8% in the 2nd quarter. Osaic Holdings Inc. now owns 5,781 shares of the company’s stock worth $204,000 after purchasing an additional 3,012 shares during the last quarter. 70.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on VERX. Robert W. Baird set a $25.00 price target on shares of Vertex in a report on Tuesday, November 4th. The Goldman Sachs Group cut their target price on shares of Vertex from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday. Needham & Company LLC decreased their price target on Vertex from $30.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday. Stifel Nicolaus set a $16.00 price objective on Vertex in a research report on Wednesday. Finally, Piper Sandler reduced their price objective on Vertex from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday. Nine equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $23.94.

Vertex Price Performance

Shares of VERX stock opened at $12.75 on Friday. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 318.83, a PEG ratio of 1.45 and a beta of 0.59. Vertex, Inc. has a 12 month low of $11.96 and a 12 month high of $48.00. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.27. The stock has a 50-day moving average price of $18.75 and a 200 day moving average price of $22.21.

Vertex (NASDAQ:VERX) last issued its earnings results on Wednesday, February 11th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. Vertex had a net margin of 0.96% and a return on equity of 25.25%. The company had revenue of $194.71 million for the quarter, compared to analyst estimates of $194.33 million. During the same quarter last year, the firm earned $0.15 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. Research analysts expect that Vertex, Inc. will post 0.38 EPS for the current year.

Vertex announced that its Board of Directors has authorized a share repurchase plan on Monday, November 3rd that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 4.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

About Vertex

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.