Vertex (VERX) Scheduled to Post Earnings on Wednesday

Vertex (NASDAQ:VERX) is scheduled to be releasing its earnings data before the market opens on Wednesday, May 8th. Analysts expect Vertex to post earnings of $0.13 per share for the quarter. Vertex has set its FY 2024 guidance at EPS and its Q1 2024 guidance at EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Vertex (NASDAQ:VERX) last issued its earnings results on Thursday, February 29th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. Vertex had a positive return on equity of 16.15% and a negative net margin of 2.29%. The business had revenue of $154.91 million during the quarter, compared to analyst estimates of $146.44 million. On average, analysts expect Vertex to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Vertex Trading Up 3.6 %

NASDAQ VERX opened at $30.30 on Tuesday. Vertex has a 52 week low of $17.59 and a 52 week high of $35.38. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average price of $30.16 and a 200-day moving average price of $27.34.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Bank of America reduced their target price on shares of Vertex from $40.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, April 23rd. Needham & Company LLC restated a “buy” rating and issued a $45.00 price objective on shares of Vertex in a research note on Monday. The Goldman Sachs Group lifted their target price on Vertex from $33.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, March 1st. BMO Capital Markets upped their price target on Vertex from $30.00 to $35.00 and gave the stock a “market perform” rating in a research report on Friday, March 1st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $42.00 price objective on shares of Vertex in a research report on Tuesday, April 23rd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Vertex has an average rating of “Moderate Buy” and a consensus target price of $35.67.

Insider Buying and Selling

In other news, major shareholder Jeffrey Westphal sold 791,133 shares of Vertex stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $30.05, for a total transaction of $23,773,546.65. Following the sale, the insider now owns 1,554,641 shares in the company, valued at $46,716,962.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, major shareholder Jeffrey Westphal sold 791,133 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $30.05, for a total transaction of $23,773,546.65. Following the completion of the transaction, the insider now owns 1,554,641 shares in the company, valued at $46,716,962.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Item Second Irr. Trust Fbo Ann sold 26,609 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $33.62, for a total value of $894,594.58. Following the completion of the sale, the insider now owns 1,338,465 shares in the company, valued at $44,999,193.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,161,048 shares of company stock valued at $35,034,678. Corporate insiders own 45.00% 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.