Vertex, Inc. (NASDAQ:VERX) Receives $35.67 Consensus PT from Analysts

Shares of Vertex, Inc. (NASDAQ:VERX) have received an average rating of “Moderate Buy” from the ten research firms that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $35.67.

Several brokerages recently issued reports on VERX. Jefferies Financial Group lifted their price objective on Vertex from $27.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, March 1st. BMO Capital Markets boosted their price objective on shares of Vertex from $30.00 to $35.00 and gave the company a “market perform” rating in a research report on Friday, March 1st. The Goldman Sachs Group increased their price target on Vertex from $33.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Bank of America lowered their price objective on shares of Vertex from $40.00 to $34.00 and set a “neutral” rating for the company in a research note on Tuesday, April 23rd. Finally, JMP Securities restated a “market outperform” rating and issued a $42.00 price objective on shares of Vertex in a report on Tuesday, April 23rd.

Insider Transactions at Vertex

In other news, CAO Lisa Butler sold 8,290 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $29.63, for a total value of $245,632.70. Following the completion of the sale, the chief accounting officer now directly owns 250 shares in the company, valued at approximately $7,407.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Lisa Butler sold 8,290 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $29.63, for a total transaction of $245,632.70. Following the completion of the transaction, the chief accounting officer now owns 250 shares in the company, valued at approximately $7,407.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 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 $46,716,962.05. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,161,048 shares of company stock valued at $35,034,678. 45.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vertex

Several hedge funds have recently modified their holdings of VERX. Allspring Global Investments Holdings LLC acquired a new stake in Vertex during the 3rd quarter valued at $49,000. RiverPark Advisors LLC purchased a new position in Vertex during the third quarter valued at approximately $60,000. Tower Research Capital LLC TRC acquired a new position in Vertex in the 4th quarter valued at approximately $72,000. SG Americas Securities LLC acquired a new stake in shares of Vertex during the 1st quarter valued at $166,000. Finally, F M Investments LLC purchased a new stake in shares of Vertex during the first quarter worth $209,000. 59.10% of the stock is currently owned by institutional investors and hedge funds.

Vertex Price Performance

Shares of NASDAQ VERX opened at $30.15 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.60 and a current ratio of 0.60. Vertex has a one year low of $17.59 and a one year high of $35.38. The company’s fifty day moving average is $30.26 and its two-hundred day moving average is $27.39. The firm has a market capitalization of $4.65 billion, a P/E ratio of -301.50, a PEG ratio of 7.54 and a beta of 0.65.

Vertex (NASDAQ:VERX) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The business had revenue of $154.91 million for the quarter, compared to analysts’ expectations of $146.44 million. Vertex had a positive return on equity of 16.15% and a negative net margin of 2.29%. Analysts forecast that Vertex will post 0.36 EPS for the current fiscal year.

Vertex Company 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.