Vertex (VERX) Scheduled to Post Quarterly Earnings on Wednesday

Vertex (NASDAQ:VERX) is set to release its earnings data before the market opens on Wednesday, May 8th. Analysts expect Vertex to post earnings of $0.13 per share for the quarter. Vertex has set its FY 2024 guidance at EPS and its Q1 2024 guidance at EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

Vertex (NASDAQ:VERX) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02. The firm had revenue of $154.91 million for the quarter, compared to analyst estimates of $146.44 million. Vertex had a positive return on equity of 16.15% and a negative net margin of 2.29%. On average, analysts expect Vertex to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Vertex Stock Performance

NASDAQ VERX opened at $29.26 on Monday. Vertex has a 12 month low of $17.59 and a 12 month high of $35.38. The stock has a 50 day moving average of $30.06 and a 200-day moving average of $27.29. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.60 and a quick ratio of 0.60.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on VERX shares. BMO Capital Markets boosted their price objective on shares of Vertex from $30.00 to $35.00 and gave the stock a “market perform” rating in a research note on Friday, March 1st. The Goldman Sachs Group upped their price objective on Vertex from $33.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, March 1st. JMP Securities reiterated a “market outperform” rating and set a $42.00 target price on shares of Vertex in a research note on Tuesday, April 23rd. Jefferies Financial Group increased their price target on Vertex from $27.00 to $35.00 and gave the company a “hold” rating in a research note on Friday, March 1st. Finally, Citigroup reduced their price objective on shares of Vertex from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Vertex currently has an average rating of “Moderate Buy” and a consensus target price of $35.67.

Insider Activity at Vertex

In other Vertex news, major shareholder Jeffrey Westphal sold 791,133 shares of Vertex stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $30.05, for a total value of $23,773,546.65. Following the completion of the sale, the insider now owns 1,554,641 shares in the company, valued at approximately $46,716,962.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Item Second Irr. Trust Fbo Ann sold 26,609 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $33.62, for a total transaction of $894,594.58. Following the sale, the insider now directly owns 1,338,465 shares of the company’s stock, valued at approximately $44,999,193.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Jeffrey Westphal sold 791,133 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $30.05, for a total value of $23,773,546.65. Following the completion of the transaction, the insider now owns 1,554,641 shares in the company, valued at approximately $46,716,962.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,161,048 shares of company stock worth $35,034,678. Corporate insiders own 45.00% of the company’s stock.

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.