Vertex (NASDAQ:VERX) Issues Earnings Results

Vertex (NASDAQ:VERX) released its quarterly earnings results on Thursday. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.03), Zacks reports. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The business had revenue of $178.46 million during the quarter, compared to the consensus estimate of $176.90 million. Vertex updated its Q1 2025 guidance to EPS and its FY 2025 guidance to EPS.

Vertex Stock Performance

Shares of NASDAQ VERX opened at $34.54 on Friday. The firm’s fifty day moving average is $52.90 and its two-hundred day moving average is $46.83. Vertex has a 52-week low of $24.86 and a 52-week high of $60.71. The company has a market cap of $5.39 billion, a P/E ratio of 191.89, a P/E/G ratio of 6.66 and a beta of 0.78. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Morgan Stanley raised their target price on Vertex from $50.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Stifel Nicolaus raised their price objective on Vertex from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Raymond James reiterated a “market perform” rating on shares of Vertex in a research note on Friday, January 3rd. The Goldman Sachs Group raised their target price on shares of Vertex from $42.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $61.00 price target on shares of Vertex in a report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.36.

Insider Buying and Selling at Vertex

In related news, major shareholder Item Second Irr. Trust Fbo Kyl sold 13,346 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $55.13, for a total transaction of $735,764.98. Following the sale, the insider now owns 1,344,754 shares of the company’s stock, valued at $74,136,288.02. This represents a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Destefano sold 216,268 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $55.04, for a total transaction of $11,903,390.72. Following the transaction, the chief executive officer now owns 293,345 shares of the company’s stock, valued at $16,145,708.80. This trade represents a 42.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 858,457 shares of company stock valued at $46,160,958 in the last 90 days. 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.