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

Vertex, Inc. (NASDAQ:VERX) has been given an average rating of “Moderate Buy” by the twelve ratings firms that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $37.30.

Several research analysts have weighed in on the stock. Citigroup raised their price objective on shares of Vertex from $32.00 to $36.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. Baird R W raised shares of Vertex to a “strong-buy” rating in a report on Tuesday, July 23rd. Needham & Company LLC reissued a “buy” rating and set a $45.00 price objective on shares of Vertex in a report on Thursday, June 13th. Robert W. Baird assumed coverage on shares of Vertex in a report on Tuesday, July 23rd. They set an “outperform” rating and a $43.00 price objective for the company. Finally, JMP Securities raised their price objective on shares of Vertex from $42.00 to $47.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 31st.

Insider Transactions at Vertex

In related news, major shareholder Item Second Irr. Trust Fbo Kyl sold 158,900 shares of Vertex stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $37.27, for a total value of $5,922,203.00. Following the sale, the insider now directly owns 1,430,100 shares in the company, valued at $53,299,827. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, major shareholder Item Second Irr. Trust Fbo Kyl sold 158,900 shares of Vertex stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $37.27, for a total value of $5,922,203.00. Following the sale, the insider now directly owns 1,430,100 shares in the company, valued at $53,299,827. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Richard Stamm sold 16,000 shares of Vertex stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $35.95, for a total transaction of $575,200.00. Following the completion of the sale, the director now owns 21,635 shares in the company, valued at approximately $777,778.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,699,900 shares of company stock worth $64,107,653. 45.00% of the stock is currently owned by insiders.

Institutional Trading of Vertex

A number of hedge funds and other institutional investors have recently made changes to their positions in VERX. Banque Pictet & Cie SA raised its position in shares of Vertex by 551.9% during the 2nd quarter. Banque Pictet & Cie SA now owns 949,540 shares of the company’s stock worth $34,231,000 after buying an additional 803,881 shares in the last quarter. Pembroke Management LTD raised its position in shares of Vertex by 255.3% during the 1st quarter. Pembroke Management LTD now owns 927,129 shares of the company’s stock worth $29,446,000 after buying an additional 666,223 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Vertex by 13.0% during 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 in the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Vertex during the 2nd quarter worth about $22,173,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Vertex during the 1st quarter worth about $12,043,000. 59.10% of the stock is currently owned by institutional investors.

Vertex Price Performance

VERX opened at $40.48 on Wednesday. The company has a fifty day simple moving average of $37.10 and a 200 day simple moving average of $34.55. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of 1,012.00, a PEG ratio of 11.75 and a beta of 0.68. Vertex has a twelve month low of $21.92 and a twelve month high of $42.38. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.43.

Vertex (NASDAQ:VERX) last released its quarterly 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 net margin of 3.20% and a return on equity of 22.32%. The business’s revenue was up 15.3% on a year-over-year basis. During the same period last year, the business earned $0.04 EPS. Equities research analysts expect that Vertex will post 0.34 EPS for the current fiscal 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.