Vertex, Inc. (NASDAQ:VERX) Receives $43.69 Consensus Target Price from Analysts

Vertex, Inc. (NASDAQ:VERX) has earned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $43.6923.

A number of research analysts have issued reports on the company. BMO Capital Markets reiterated a “market perform” rating on shares of Vertex in a research report on Thursday, August 7th. DA Davidson lowered shares of Vertex from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. Bank of America decreased their price target on shares of Vertex from $42.00 to $34.00 and set a “neutral” rating on the stock in a report on Friday, August 8th. Needham & Company LLC decreased their price target on shares of Vertex from $60.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Finally, Citigroup raised shares of Vertex from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th.

Insiders Place Their Bets

In related news, insider Item Second Irr. Trust Fbo Ann sold 14,425 shares of the business’s stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $35.24, for a total transaction of $508,337.00. Following the sale, the insider owned 173,074 shares in the company, valued at $6,099,127.76. The trade was a 7.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jeffrey Westphal sold 3,000,000 shares of the business’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $38.45, for a total value of $115,350,000.00. Following the sale, the insider owned 7,895 shares in the company, valued at approximately $303,562.75. This trade represents a 99.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,405,000 shares of company stock worth $130,136,108 in the last 90 days. 43.25% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vertex

A number of institutional investors have recently added to or reduced their stakes in VERX. D. E. Shaw & Co. Inc. grew its stake in shares of Vertex by 28.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 54,115 shares of the company’s stock worth $2,887,000 after purchasing an additional 11,966 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Vertex by 3,751.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,087 shares of the company’s stock worth $283,000 after purchasing an additional 7,877 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Vertex by 25.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 224,762 shares of the company’s stock valued at $7,869,000 after buying an additional 45,494 shares during the last quarter. Norris Perne & French LLP MI bought a new stake in shares of Vertex in the 1st quarter valued at about $8,203,000. Finally, Geneva Capital Management LLC grew its position in shares of Vertex by 42.1% in the 1st quarter. Geneva Capital Management LLC now owns 2,043,205 shares of the company’s stock valued at $71,533,000 after buying an additional 605,617 shares during the last quarter. 70.32% of the stock is owned by institutional investors.

Vertex Stock Performance

Shares of NASDAQ:VERX opened at $25.27 on Friday. Vertex has a 1 year low of $24.45 and a 1 year high of $60.71. The company’s 50 day simple moving average is $31.88 and its 200 day simple moving average is $36.26. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of -76.57, a price-to-earnings-growth ratio of 5.16 and a beta of 0.70.

Vertex (NASDAQ:VERX) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. Vertex had a positive return on equity of 27.16% and a negative net margin of 7.09%.The company had revenue of $184.56 million for the quarter, compared to analyst estimates of $184.60 million. During the same quarter last year, the company posted $0.15 EPS. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. As a group, research analysts predict that Vertex will post 0.38 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.