Vertex, Inc. (NASDAQ:VERX) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Vertex, Inc. (NASDAQ:VERX) have been assigned a consensus rating of “Moderate Buy” from the twelve analysts that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $37.30.

VERX has been the subject of a number of recent analyst reports. Baird R W raised Vertex to a “strong-buy” rating in a report on Tuesday, July 23rd. JMP Securities lifted their target price on Vertex from $42.00 to $47.00 and gave the company a “market outperform” rating in a report on Wednesday, July 31st. Finally, Robert W. Baird initiated coverage on Vertex in a report on Tuesday, July 23rd. They set an “outperform” rating and a $43.00 target price for the company.

Insider Transactions at Vertex

In other news, CFO John R. Schwab sold 25,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $35.81, for a total transaction of $895,250.00. Following the completion of the transaction, the chief financial officer now owns 53,104 shares of the company’s stock, valued at approximately $1,901,654.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO John R. Schwab sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 owns 53,104 shares in the company, valued at $1,901,654.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John Richard Stamm sold 16,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $35.95, for a total value of $575,200.00. Following the completion of the sale, the director now owns 21,635 shares of the company’s stock, valued at $777,778.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,629,244 shares of company stock valued at $64,039,589. 45.00% of the stock is owned by corporate insiders.

Institutional Trading of Vertex

A number of hedge funds have recently bought and sold shares of VERX. Vanguard Group Inc. lifted its position in Vertex by 13.0% in the 4th quarter. Vanguard Group Inc. now owns 5,555,808 shares of the company’s stock worth $149,673,000 after buying an additional 637,075 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Vertex in the first quarter valued at approximately $12,043,000. Principal Financial Group Inc. lifted its position in Vertex by 25.6% in the first quarter. Principal Financial Group Inc. now owns 293,760 shares of the company’s stock valued at $9,330,000 after purchasing an additional 59,947 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Vertex by 13.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,036 shares of the company’s stock valued at $2,161,000 after purchasing an additional 8,309 shares during the last quarter. Finally, RiverPark Advisors LLC lifted its position in Vertex by 361.3% in the first quarter. RiverPark Advisors LLC now owns 15,309 shares of the company’s stock valued at $486,000 after purchasing an additional 11,990 shares during the last quarter. Institutional investors own 59.10% of the company’s stock.

Vertex Trading Up 0.1 %

Shares of VERX opened at $42.07 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market cap of $6.53 billion, a P/E ratio of 1,051.75, a price-to-earnings-growth ratio of 12.04 and a beta of 0.68. Vertex has a fifty-two week low of $21.92 and a fifty-two week high of $43.33. The business has a 50-day moving average of $38.54 and a 200 day moving average of $35.61.

Vertex (NASDAQ:VERX) last posted its earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The business had revenue of $161.10 million during the quarter, compared to analyst estimates of $160.66 million. Vertex had a return on equity of 22.32% and a net margin of 3.20%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.04 EPS. As a group, research analysts forecast that Vertex will post 0.34 EPS for the current year.

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.