Vertex (NASDAQ:VERX) Price Target Cut to $55.00 by Analysts at DA Davidson

Vertex (NASDAQ:VERX) had its target price reduced by DA Davidson from $62.00 to $55.00 in a report issued on Friday,Benzinga reports. They currently have a buy rating on the stock. DA Davidson also issued estimates for Vertex’s FY2025 earnings at $0.42 EPS.

Several other research firms have also issued reports on VERX. JMP Securities restated a “market outperform” rating and issued a $61.00 price target on shares of Vertex in a research report on Monday, December 9th. Morgan Stanley raised their price objective on shares of Vertex from $50.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Raymond James reaffirmed a “market perform” rating on shares of Vertex in a research note on Friday, January 3rd. Robert W. Baird decreased their price objective on shares of Vertex from $62.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Stifel Nicolaus lowered shares of Vertex from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $58.00 to $31.00 in a research note on Friday. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.00.

Vertex Trading Down 6.5 %

Vertex stock opened at $32.29 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $5.04 billion, a price-to-earnings ratio of 179.39, a price-to-earnings-growth ratio of 6.66 and a beta of 0.78. Vertex has a 1 year low of $27.22 and a 1 year high of $60.71. The firm’s 50 day moving average price is $52.52 and its two-hundred day moving average price is $46.74.

Vertex (NASDAQ:VERX) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.03). The business had revenue of $178.46 million during the quarter, compared to analyst estimates of $176.90 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. On average, research analysts predict that Vertex will post 0.38 EPS for the current fiscal year.

Insider Buying and Selling at Vertex

In related news, insider Jeffrey Westphal sold 575,000 shares of Vertex stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $53.01, for a total value of $30,480,750.00. Following the completion of the sale, the insider now owns 7,895 shares of the company’s stock, valued at approximately $418,513.95. The trade was a 98.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 13,346 shares of Vertex 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 completion of the sale, the insider now directly owns 1,344,754 shares of the company’s stock, valued at approximately $74,136,288.02. The trade was a 0.98 % 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 quarter. Company insiders own 44.58% of the company’s stock.

Institutional Investors Weigh In On Vertex

Several institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. lifted its stake in shares of Vertex by 11.4% in the 4th quarter. Blue Trust Inc. now owns 2,516 shares of the company’s stock valued at $134,000 after purchasing an additional 257 shares during the last quarter. Sheets Smith Wealth Management lifted its stake in shares of Vertex by 2.2% in the 4th quarter. Sheets Smith Wealth Management now owns 15,099 shares of the company’s stock valued at $806,000 after purchasing an additional 324 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of Vertex by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,678 shares of the company’s stock valued at $303,000 after purchasing an additional 361 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of Vertex by 6.1% in the 3rd quarter. Verdence Capital Advisors LLC now owns 8,313 shares of the company’s stock valued at $320,000 after purchasing an additional 477 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in shares of Vertex by 126.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock valued at $37,000 after purchasing an additional 540 shares during the last quarter. Institutional investors and hedge funds own 70.32% of the company’s stock.

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.