Vertex, Inc. (NASDAQ:VERX) Receives Consensus Rating of “Hold” from Brokerages

Vertex, Inc. (NASDAQ:VERX – Get Rating) has been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $21.33.

VERX has been the subject of several recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $28.00 price objective on shares of Vertex in a research report on Thursday, March 9th. Raymond James boosted their target price on Vertex from $22.00 to $24.00 in a research note on Thursday, May 11th. BMO Capital Markets boosted their target price on Vertex from $21.00 to $23.00 in a research note on Thursday, May 11th. Needham & Company LLC boosted their target price on Vertex from $19.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, March 9th. Finally, The Goldman Sachs Group boosted their target price on Vertex from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, March 9th.

Insider Activity

In other news, General Counsel Bryan T.R. Rowland sold 81,729 shares of Vertex stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $16.51, for a total transaction of $1,349,345.79. Following the completion of the sale, the general counsel now owns 3,911 shares in the company, valued at approximately $64,570.61. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, General Counsel Bryan T.R. Rowland sold 81,729 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $16.51, for a total value of $1,349,345.79. Following the completion of the sale, the general counsel now owns 3,911 shares in the company, valued at approximately $64,570.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Tensile Capital Management Lp sold 44,313 shares of Vertex stock in a transaction that occurred on Wednesday, April 19th. The stock was sold at an average price of $22.61, for a total value of $1,001,916.93. Following the completion of the transaction, the insider now directly owns 5,925,945 shares in the company, valued at $133,985,616.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,947,785 shares of company stock worth $35,002,017. 46.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of VERX. Altshuler Shaham Ltd purchased a new position in Vertex in the third quarter worth about $27,000. Great West Life Assurance Co. Can purchased a new position in Vertex in the third quarter worth about $27,000. Ensign Peak Advisors Inc purchased a new position in Vertex in the first quarter worth about $33,000. Deutsche Bank AG purchased a new position in Vertex in the fourth quarter worth about $41,000. Finally, Lazard Asset Management LLC purchased a new position in Vertex in the fourth quarter worth about $46,000. 21.53% of the stock is owned by institutional investors.

Vertex Trading Up 0.7 %

Shares of Vertex stock opened at $21.64 on Friday. The stock has a market capitalization of $3.27 billion, a P/E ratio of -103.04, a price-to-earnings-growth ratio of 7.53 and a beta of 0.60. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.21. The company has a 50-day simple moving average of $20.55 and a 200 day simple moving average of $16.98. Vertex has a 12-month low of $9.44 and a 12-month high of $22.98.

Vertex (NASDAQ:VERX – Get Rating) last released its quarterly earnings data on Wednesday, March 8th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. Vertex had a negative net margin of 5.91% and a positive return on equity of 12.20%. The business had revenue of $131.13 million for the quarter, compared to analyst estimates of $125.36 million. Research analysts expect that Vertex will post 0.26 earnings per share for the current fiscal year.

Vertex Company Profile

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Vertex, Inc provides tax technology solutions for corporations in retail, communication, leasing, and manufacturing industries in the United States and internationally. It offers tax determination, compliance and reporting, tax data management, document management, pre-built integration, and industry-specific solutions.