BMO Capital Markets Increases Vertex (NASDAQ:VERX) Price Target to $28.00

Vertex (NASDAQ:VERXGet Free Report) had its price objective boosted by equities researchers at BMO Capital Markets from $24.00 to $28.00 in a report issued on Friday, Benzinga reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price target would suggest a potential upside of 3.05% from the stock’s previous close.

A number of other research firms have also recently issued reports on VERX. Needham & Company LLC reissued a “buy” rating and set a $25.00 target price on shares of Vertex in a research note on Thursday, August 10th. Citigroup lowered their target price on Vertex from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, August 10th. TheStreet raised Vertex from a “d+” rating to a “c-” rating in a research note on Wednesday, September 27th. Morgan Stanley began coverage on Vertex in a research note on Monday, September 18th. They set an “overweight” rating and a $25.00 target price for the company. Finally, JMP Securities reissued a “market outperform” rating and set a $28.00 target price on shares of Vertex in a research note on Monday, August 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Vertex currently has an average rating of “Hold” and a consensus price target of $27.11.

View Our Latest Report on Vertex

Vertex Stock Up 0.2 %

Shares of NASDAQ VERX opened at $27.17 on Friday. The firm’s 50-day simple moving average is $22.84 and its 200 day simple moving average is $21.27. The company has a market cap of $4.13 billion, a price-to-earnings ratio of -118.13, a price-to-earnings-growth ratio of 12.01 and a beta of 0.44. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.20. Vertex has a 12-month low of $11.92 and a 12-month high of $28.12.

Vertex (NASDAQ:VERXGet Free Report) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The firm had revenue of $139.70 million during the quarter, compared to analysts’ expectations of $135.91 million. Vertex had a positive return on equity of 13.21% and a negative net margin of 6.15%. On average, research analysts expect that Vertex will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Vertex

In other Vertex news, Director John Richard Stamm sold 10,691 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $22.41, for a total value of $239,585.31. Following the completion of the transaction, the director now owns 32,430 shares in the company, valued at approximately $726,756.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Item Second Irr. Trust Fbo Kyl sold 105,337 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $22.72, for a total transaction of $2,393,256.64. Following the transaction, the insider now directly owns 1,889,000 shares of the company’s stock, valued at approximately $42,918,080. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Richard Stamm sold 10,691 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $22.41, for a total value of $239,585.31. Following the transaction, the director now directly owns 32,430 shares in the company, valued at $726,756.30. The disclosure for this sale can be found here. Insiders sold 1,792,182 shares of company stock worth $40,581,199 in the last quarter. 45.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vertex

A number of large investors have recently bought and sold shares of VERX. Neuberger Berman Group LLC boosted its position in shares of Vertex by 10.5% during the third quarter. Neuberger Berman Group LLC now owns 3,632,850 shares of the company’s stock valued at $49,661,000 after purchasing an additional 345,005 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Vertex by 25.9% during the third quarter. Vanguard Group Inc. now owns 3,494,699 shares of the company’s stock valued at $47,772,000 after purchasing an additional 717,947 shares in the last quarter. Bryn Mawr Capital Management LLC boosted its position in shares of Vertex by 0.3% during the third quarter. Bryn Mawr Capital Management LLC now owns 2,596,000 shares of the company’s stock valued at $59,968,000 after purchasing an additional 7,000 shares in the last quarter. William Blair Investment Management LLC boosted its position in shares of Vertex by 32.4% during the third quarter. William Blair Investment Management LLC now owns 1,428,008 shares of the company’s stock valued at $32,987,000 after purchasing an additional 349,683 shares in the last quarter. Finally, Palisade Capital Management LP boosted its position in shares of Vertex by 5.0% during the second quarter. Palisade Capital Management LP now owns 1,134,375 shares of the company’s stock valued at $22,120,000 after purchasing an additional 54,075 shares in the last quarter. 28.31% of the stock is owned by hedge funds and other institutional investors.

About Vertex

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

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Analyst Recommendations for Vertex (NASDAQ:VERX)

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