Vertex (NASDAQ:VERX) Earns “Market Outperform” Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Vertex (NASDAQ:VERX) in a research note published on Tuesday morning, Benzinga reports. They currently have a $42.00 price target on the stock.

Other equities research analysts have also issued reports about the company. Citigroup cut their target price on Vertex from $29.00 to $27.00 and set a neutral rating on the stock in a research report on Friday, January 12th. Jefferies Financial Group boosted their target price on Vertex from $27.00 to $35.00 and gave the stock a hold rating in a research report on Friday, March 1st. The Goldman Sachs Group boosted their target price on Vertex from $33.00 to $39.00 and gave the stock a buy rating in a research report on Friday, March 1st. BMO Capital Markets boosted their target price on Vertex from $30.00 to $35.00 and gave the stock a market perform rating in a research report on Friday, March 1st. Finally, Bank of America cut their target price on Vertex from $40.00 to $34.00 and set a neutral rating on the stock in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $35.67.

Vertex Stock Down 7.0 %

VERX opened at $27.94 on Tuesday. Vertex has a one year low of $17.59 and a one year high of $35.38. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.60 and a current ratio of 0.60. The stock’s fifty day moving average is $29.36 and its 200-day moving average is $26.95. The company has a market capitalization of $4.31 billion, a PE ratio of -279.50, a P/E/G ratio of 7.37 and a beta of 0.62.

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

Insider Buying and Selling at Vertex

In other Vertex news, Director John Richard Stamm sold 6,500 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.48, for a total value of $191,620.00. Following the transaction, the director now owns 15,930 shares in the company, valued at $469,616.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Vertex news, Director John Richard Stamm sold 6,500 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.48, for a total value of $191,620.00. Following the transaction, the director now owns 15,930 shares in the company, valued at $469,616.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Item Second Irr. Trust Fbo Ann sold 26,609 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $33.62, for a total value of $894,594.58. Following the completion of the transaction, the insider now owns 1,338,465 shares in the company, valued at approximately $44,999,193.30. The disclosure for this sale can be found here. Insiders have sold 1,161,048 shares of company stock worth $35,034,678 over the last 90 days. 45.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Vertex

A number of institutional investors and hedge funds have recently made changes to their positions in VERX. Allspring Global Investments Holdings LLC acquired a new stake in shares of Vertex in the third quarter worth about $49,000. RiverPark Advisors LLC acquired a new stake in shares of Vertex in the third quarter worth about $60,000. Arcadia Investment Management Corp MI lifted its position in shares of Vertex by 22.4% in the third quarter. Arcadia Investment Management Corp MI now owns 2,664 shares of the company’s stock worth $62,000 after buying an additional 488 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Vertex in the fourth quarter worth about $72,000. Finally, F M Investments LLC acquired a new stake in shares of Vertex in the first quarter worth about $209,000. Institutional investors and hedge funds 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.