Vertex (VERX) Projected to Post Quarterly Earnings on Thursday

Vertex (NASDAQ:VERX) is expected to be issuing its quarterly earnings data before the market opens on Thursday, February 27th. Analysts expect the company to announce earnings of $0.13 per share and revenue of $176.90 million for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Vertex Stock Performance

Shares of VERX stock opened at $42.47 on Wednesday. The firm has a market cap of $6.62 billion, a PE ratio of 235.94, a P/E/G ratio of 6.66 and a beta of 0.78. Vertex has a 12 month low of $24.70 and a 12 month high of $60.71. The company’s fifty day simple moving average is $53.11 and its 200-day simple moving average is $46.86. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VERX. Needham & Company LLC boosted their target price on shares of Vertex from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. BMO Capital Markets boosted their target price on shares of Vertex from $42.00 to $52.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Morgan Stanley boosted their target price on shares of Vertex from $50.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. JMP Securities restated a “market outperform” rating and set a $61.00 target price on shares of Vertex in a report on Monday, December 9th. Finally, Stifel Nicolaus upped their price objective on shares of Vertex from $52.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.36.

Insider Activity at Vertex

In related news, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $56.48, for a total transaction of $3,041,052.64. Following the completion of the sale, the insider now owns 1,229,257 shares of the company’s stock, valued at $69,428,435.36. This represents a 4.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David Destefano sold 216,268 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $55.04, for a total transaction of $11,903,390.72. Following the sale, the chief executive officer now directly owns 293,345 shares of the company’s stock, valued at $16,145,708.80. This represents a 42.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 858,457 shares of company stock worth $46,160,958. Corporate insiders own 44.58% 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.