Robert W. Baird Issues Positive Forecast for Vertex (NASDAQ:VERX) Stock Price

Vertex (NASDAQ:VERX) had its price objective lifted by Robert W. Baird from $43.00 to $57.00 in a research report sent to investors on Thursday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the company. Baird R W raised Vertex to a “strong-buy” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group raised their target price on shares of Vertex from $42.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday. Needham & Company LLC raised their price objective on shares of Vertex from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday. Jefferies Financial Group upgraded shares of Vertex from a “hold” rating to a “buy” rating and increased their target price for the stock from $35.00 to $50.00 in a research note on Monday. Finally, BMO Capital Markets upped their price objective on Vertex from $42.00 to $52.00 and gave the company a “market perform” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.27.

Vertex Stock Up 1.3 %

Vertex stock traded up $0.66 during mid-day trading on Thursday, hitting $51.99. The company had a trading volume of 1,737,449 shares, compared to its average volume of 775,053. The stock has a market cap of $8.09 billion, a price-to-earnings ratio of 285.17, a PEG ratio of 14.22 and a beta of 0.67. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.43. Vertex has a 1 year low of $22.63 and a 1 year high of $52.93. The business has a fifty day moving average of $39.88 and a 200 day moving average of $36.45.

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. The firm had revenue of $161.10 million during the quarter, compared to analysts’ expectations of $160.66 million. Vertex had a net margin of 4.73% and a return on equity of 25.27%. Vertex’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.04 earnings per share. On average, sell-side analysts expect that Vertex will post 0.34 earnings per share for the current fiscal year.

Insider Activity at Vertex

In other Vertex news, insider Item Second Irr. Trust Fbo Jac sold 49,114 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $41.31, for a total transaction of $2,028,899.34. Following the completion of the sale, the insider now owns 1,067,852 shares of the company’s stock, valued at approximately $44,112,966.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Vertex news, insider Item Second Irr. Trust Fbo Jac sold 49,114 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $41.31, for a total value of $2,028,899.34. Following the transaction, the insider now directly owns 1,067,852 shares of the company’s stock, valued at $44,112,966.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO John R. Schwab sold 25,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $35.81, for a total transaction of $895,250.00. Following the completion of the sale, the chief financial officer now directly owns 53,104 shares of the company’s stock, valued at $1,901,654.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,629,244 shares of company stock worth $64,039,589. 44.58% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vertex

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. bought a new stake in shares of Vertex in the 2nd quarter valued at approximately $28,000. Quest Partners LLC bought a new position in shares of Vertex in the 2nd quarter worth about $37,000. Canada Pension Plan Investment Board acquired a new position in shares of Vertex in the 2nd quarter valued at about $40,000. Amalgamated Bank bought a new stake in shares of Vertex during the 2nd quarter valued at about $68,000. Finally, KBC Group NV raised its stake in Vertex by 46.1% during the third quarter. KBC Group NV now owns 2,099 shares of the company’s stock worth $81,000 after acquiring an additional 662 shares during the period. Institutional investors own 59.10% 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.