Vertex (NASDAQ:VERX) PT Raised to $30.00

Vertex (NASDAQ:VERX) had its price target boosted by Morgan Stanley from $25.00 to $30.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 10.42% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. BMO Capital Markets boosted their price target on Vertex from $24.00 to $28.00 and gave the company a “market perform” rating in a research note on Friday. The Goldman Sachs Group boosted their price target on Vertex from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Friday. TheStreet raised Vertex from a “d+” rating to a “c-” rating in a research note on Wednesday, September 27th. Citigroup lowered their price target on Vertex from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, August 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 target price on shares of Vertex in a research report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $27.11.

Vertex Price Performance

VERX opened at $27.17 on Friday. The stock has a fifty day moving average of $22.84 and a 200-day moving average of $21.27. The firm has a market capitalization of $4.13 billion, a P/E ratio of -118.13, a PEG ratio of 12.01 and a beta of 0.44. Vertex has a 12-month low of $11.92 and a 12-month high of $28.12. 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 (NASDAQ:VERX) last released its quarterly earnings data on Wednesday, August 9th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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%. Equities analysts forecast that Vertex will post 0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Eric C. Andersen sold 15,121 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $19.50, for a total transaction of $294,859.50. Following the completion of the transaction, the director now directly owns 97,309 shares in the company, valued at $1,897,525.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Eric C. Andersen sold 15,121 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $19.50, for a total transaction of $294,859.50. Following the completion of the transaction, the director now directly owns 97,309 shares in the company, valued at $1,897,525.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Item Second Irr. Trust Fbo Kyl sold 105,337 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $22.72, for a total value of $2,393,256.64. Following the transaction, the insider now owns 1,889,000 shares of the company’s stock, valued at $42,918,080. The disclosure for this sale can be found here. Insiders sold 1,792,182 shares of company stock valued at $40,581,199 over the last 90 days. 45.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Swiss National Bank raised its stake in shares of Vertex by 9.6% in the first quarter. Swiss National Bank now owns 67,500 shares of the company’s stock valued at $1,035,000 after purchasing an additional 5,900 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Vertex by 7.3% in the first quarter. Bank of New York Mellon Corp now owns 45,735 shares of the company’s stock valued at $701,000 after purchasing an additional 3,103 shares in the last quarter. US Bancorp DE raised its stake in shares of Vertex by 547.0% in the first quarter. US Bancorp DE now owns 6,910 shares of the company’s stock valued at $106,000 after purchasing an additional 5,842 shares in the last quarter. Natixis Advisors L.P. acquired a new position in shares of Vertex in the first quarter valued at $267,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Vertex by 267.5% in the first quarter. Dimensional Fund Advisors LP now owns 77,060 shares of the company’s stock valued at $1,182,000 after purchasing an additional 56,090 shares in the last quarter. 28.31% of the stock is currently owned by institutional investors and hedge funds.

Vertex Company Profile

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.