Vertex (VERX) to Release Earnings on Wednesday

Vertex (NASDAQ:VERX) is set to issue its quarterly earnings data before the market opens on Wednesday, November 6th. Analysts expect the company to announce earnings of $0.14 per share for the quarter. Vertex has set its FY 2024 guidance at EPS and its Q3 2024 guidance at EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

Vertex (NASDAQ:VERX) last issued its quarterly earnings data 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 business 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 business earned $0.04 earnings per share. The company’s revenue was up 15.3% on a year-over-year basis. On average, analysts expect Vertex to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Vertex Stock Up 0.1 %

VERX stock opened at $42.23 on Tuesday. The company has a market capitalization of $6.57 billion, a price-to-earnings ratio of 351.92, a price-to-earnings-growth ratio of 12.05 and a beta of 0.67. 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 has a 52 week low of $21.92 and a 52 week high of $43.75. The firm’s 50-day moving average is $39.26 and its two-hundred day moving average is $36.14.

Insider Activity

In other news, major shareholder Item Second Irr. Trust Fbo Kyl sold 158,900 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 1,430,100 shares in the company, valued at $53,299,827. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Vertex news, major shareholder Item Second Irr. Trust Fbo Kyl sold 158,900 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $37.27, for a total transaction of $5,922,203.00. Following the transaction, the insider now owns 1,430,100 shares of the company’s stock, valued at $53,299,827. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Richard Stamm sold 16,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $35.95, for a total value of $575,200.00. Following the completion of the transaction, the director now directly owns 21,635 shares in the company, valued at $777,778.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,629,244 shares of company stock worth $64,039,589 in the last 90 days. Corporate insiders own 44.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Robert W. Baird assumed coverage on shares of Vertex in a research report on Tuesday, July 23rd. They set an “outperform” rating and a $43.00 price objective for the company. JMP Securities upped their price target on Vertex from $42.00 to $47.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 31st. Baird R W raised shares of Vertex to a “strong-buy” rating in a research note on Tuesday, July 23rd. Finally, Jefferies Financial Group raised Vertex from a “hold” rating to a “buy” rating and boosted their price target for the company from $35.00 to $50.00 in a research note on Monday. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.80.

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.