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

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

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

Insider Activity

In other news, major shareholder Jeffrey Westphal sold 1,500,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $37.81, for a total value of $56,715,000.00. Following the sale, the insider now directly owns 1,054,641 shares in the company, valued at approximately $39,875,976.21. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, major shareholder Jeffrey Westphal sold 1,500,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $37.81, for a total value of $56,715,000.00. Following the sale, the insider now owns 1,054,641 shares of the company’s stock, valued at approximately $39,875,976.21. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John Richard Stamm sold 16,000 shares of the 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 sale, the director now owns 21,635 shares in the company, valued at $777,778.25. 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. Corporate insiders own 45.00% of the company’s stock.

Institutional Trading of Vertex

Institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. bought a new position in shares of Vertex in the 2nd quarter worth $28,000. Quest Partners LLC bought a new stake in Vertex in the second quarter valued at about $37,000. Canada Pension Plan Investment Board acquired a new position in Vertex in the second quarter valued at about $40,000. Amalgamated Bank bought a new position in Vertex during the second quarter worth about $68,000. Finally, Sandia Investment Management LP acquired a new position in Vertex during the first quarter valued at approximately $159,000. Institutional investors own 59.10% of the company’s stock.

Vertex Trading Down 1.1 %

Vertex stock opened at $35.25 on Friday. Vertex has a 52 week low of $20.48 and a 52 week high of $40.05. The stock has a 50-day moving average price of $36.93 and a 200 day moving average price of $33.51. The stock has a market cap of $5.47 billion, a PE ratio of 881.25, a P/E/G ratio of 10.08 and a beta of 0.69. 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 announced 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. Vertex had a net margin of 3.20% and a return on equity of 22.32%. The firm had revenue of $161.10 million for the quarter, compared to analysts’ expectations of $160.66 million. During the same period in the previous year, the company posted $0.04 earnings per share. Vertex’s revenue was up 15.3% compared to the same quarter last year. Equities research analysts predict that Vertex will post 0.34 earnings per share for the current fiscal year.

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.