Robert W. Baird Issues Positive Forecast for Vertex (NASDAQ:VERX) Stock Price

Vertex (NASDAQ:VERX) had its price target increased by stock analysts at Robert W. Baird from $43.00 to $57.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 9.64% from the company’s previous close.

A number of other analysts also recently issued reports on VERX. The Goldman Sachs Group increased their price target on shares of Vertex from $42.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday. JMP Securities increased their target price on shares of Vertex from $47.00 to $61.00 and gave the stock a “market outperform” rating in a research note on Thursday. Jefferies Financial Group upgraded Vertex from a “hold” rating to a “buy” rating and lifted their price target for the company from $35.00 to $50.00 in a research note on Monday, November 4th. Needham & Company LLC increased their price target on Vertex from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, BMO Capital Markets boosted their price objective on Vertex from $42.00 to $52.00 and gave the company a “market perform” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.27.

Vertex Trading Up 1.3 %

Vertex stock opened at $51.99 on Thursday. The company has a market capitalization of $8.09 billion, a price-to-earnings ratio of 288.83, a price-to-earnings-growth ratio of 14.22 and a beta of 0.67. Vertex has a 52 week low of $22.63 and a 52 week high of $52.93. The stock has a 50-day moving average price of $40.15 and a 200 day moving average price of $36.60. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.43.

Vertex (NASDAQ:VERX) last posted its earnings results on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02. The firm had revenue of $161.10 million for the quarter, compared to analyst estimates of $160.66 million. Vertex had a return on equity of 25.27% and a net margin of 4.73%. Vertex’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the company earned $0.04 earnings per share. Sell-side analysts anticipate that Vertex will post 0.34 EPS for the current year.

Insiders Place Their Bets

In other news, CFO John R. Schwab sold 25,000 shares of the stock in a transaction dated 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 directly owns 53,104 shares in the company, valued at $1,901,654.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO John R. Schwab sold 25,000 shares of the business’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 transaction, the chief financial officer now directly owns 53,104 shares in the company, valued at approximately $1,901,654.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John Richard Stamm sold 16,000 shares of the 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 completion of the sale, the director now owns 21,635 shares of the company’s stock, valued at approximately $777,778.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,629,244 shares of company stock valued at $64,039,589 in the last 90 days. 44.58% of the stock is owned by insiders.

Institutional Trading of Vertex

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. acquired a new position in shares of Vertex during the 2nd quarter valued at about $28,000. Quest Partners LLC purchased a new position in Vertex during the second quarter worth about $37,000. Advisors Asset Management Inc. raised its stake in Vertex by 126.2% during the third quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock worth $37,000 after purchasing an additional 540 shares during the period. Canada Pension Plan Investment Board acquired a new position in Vertex in the 2nd quarter valued at about $40,000. Finally, Amalgamated Bank purchased a new stake in shares of Vertex in the 2nd quarter valued at approximately $68,000. 59.10% of the stock is owned by institutional investors and hedge funds.

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.