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

Shares of Vertex, Inc. (NASDAQ:VERX) have earned an average rating of “Moderate Buy” from the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $35.67.

Several research firms have weighed in on VERX. Jefferies Financial Group lifted their target price on Vertex from $27.00 to $35.00 and gave the company a “hold” rating in a research note on Friday, March 1st. Needham & Company LLC lifted their target price on Vertex from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Citigroup lowered their target price on Vertex from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 23rd. The Goldman Sachs Group lifted their target price on Vertex from $33.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, Bank of America lowered their target price on Vertex from $40.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 23rd.

Insider Buying and Selling

In related news, major shareholder Jeffrey Westphal sold 791,133 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $30.05, for a total value of $23,773,546.65. Following the completion of the sale, the insider now directly owns 1,554,641 shares in the company, valued at approximately $46,716,962.05. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CAO Lisa Butler sold 8,290 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $29.63, for a total value of $245,632.70. Following the completion of the sale, the chief accounting officer now directly owns 250 shares in the company, valued at approximately $7,407.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Jeffrey Westphal sold 791,133 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $30.05, for a total value of $23,773,546.65. Following the completion of the sale, the insider now owns 1,554,641 shares of the company’s stock, valued at $46,716,962.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,161,048 shares of company stock worth $35,034,678. 45.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. RiverPark Advisors LLC lifted its holdings in shares of Vertex by 361.3% during the first quarter. RiverPark Advisors LLC now owns 15,309 shares of the company’s stock worth $486,000 after buying an additional 11,990 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Vertex by 13.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,036 shares of the company’s stock worth $2,161,000 after buying an additional 8,309 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Vertex during the first quarter worth approximately $12,043,000. Principal Financial Group Inc. lifted its holdings in shares of Vertex by 25.6% during the first quarter. Principal Financial Group Inc. now owns 293,760 shares of the company’s stock worth $9,330,000 after buying an additional 59,947 shares during the last quarter. Finally, Verdence Capital Advisors LLC acquired a new position in shares of Vertex during the first quarter worth approximately $213,000. 59.10% of the stock is currently owned by institutional investors and hedge funds.

Vertex Price Performance

NASDAQ VERX opened at $29.26 on Friday. The stock’s 50-day moving average price is $30.06 and its two-hundred day moving average price is $27.27. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.17. The company has a market cap of $4.52 billion, a PE ratio of -292.60, a PEG ratio of 7.56 and a beta of 0.65. Vertex has a 1 year low of $17.59 and a 1 year high of $35.38.

Vertex (NASDAQ:VERX) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.02. The firm had revenue of $154.91 million for the quarter, compared to the consensus estimate of $146.44 million. Vertex had a positive return on equity of 16.15% and a negative net margin of 2.29%. On average, analysts predict that Vertex will post 0.36 EPS for the current 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.