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

Vertex, Inc. (NASDAQ:VERX) has been assigned an average recommendation of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $35.67.

A number of research firms have recently commented on VERX. Bank of America dropped their price target on Vertex from $40.00 to $34.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 23rd. Citigroup decreased their price objective on Vertex from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, April 23rd. BMO Capital Markets increased their price objective on Vertex from $30.00 to $35.00 and gave the stock a “market perform” rating in a report on Friday, March 1st. Needham & Company LLC increased their price objective on Vertex from $35.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Finally, Jefferies Financial Group increased their price objective on Vertex from $27.00 to $35.00 and gave the stock a “hold” rating in a report on Friday, March 1st.

Insider Buying and Selling at Vertex

In other Vertex news, major shareholder Jeffrey Westphal sold 791,133 shares of the firm’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 transaction, the insider now directly owns 1,554,641 shares in the company, valued at $46,716,962.05. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Vertex news, insider Item Second Irr. Trust Fbo Ann sold 173,391 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $30.34, for a total value of $5,260,682.94. Following the completion of the transaction, the insider now directly owns 1,165,074 shares in the company, valued at $35,348,345.16. 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 Vertex 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 transaction, 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. Insiders sold a total of 1,161,048 shares of company stock worth $35,034,678 over the last ninety days. 45.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new position in shares of Vertex during the 3rd quarter worth approximately $49,000. RiverPark Advisors LLC bought a new position in shares of Vertex during the 3rd quarter worth approximately $60,000. Tower Research Capital LLC TRC bought a new position in shares of Vertex during the 4th quarter worth approximately $72,000. F M Investments LLC bought a new position in shares of Vertex during the 1st quarter worth approximately $209,000. Finally, Verdence Capital Advisors LLC bought a new position in shares of Vertex during the 1st quarter worth approximately $213,000. 59.10% of the stock is currently owned by institutional investors.

Vertex Trading Down 0.2 %

NASDAQ VERX opened at $29.26 on Friday. The firm has a market cap of $4.52 billion, a P/E ratio of -292.60, a P/E/G ratio of 7.56 and a beta of 0.65. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.60 and a quick ratio of 0.60. The stock’s 50-day moving average is $30.06 and its 200-day moving average is $27.27. Vertex has a one year low of $17.59 and a one year high of $35.38.

Vertex (NASDAQ:VERX) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The company had revenue of $154.91 million for the quarter, compared to analyst estimates of $146.44 million. Vertex had a positive return on equity of 16.15% and a negative net margin of 2.29%. Sell-side analysts anticipate that Vertex will post 0.36 earnings per share for the current fiscal 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.