Vertex (VERX) Set to Announce Earnings on Wednesday

Vertex (NASDAQ:VERX) is set to release its earnings data before the market opens on Wednesday, May 8th. Analysts expect Vertex to post earnings of $0.13 per share for the quarter. Vertex has set its FY 2024 guidance at EPS and its Q1 2024 guidance at EPS.Parties interested in registering for the company’s conference call can do so using this link.

Vertex (NASDAQ:VERX) last announced its quarterly earnings results on Thursday, February 29th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. Vertex had a negative net margin of 2.29% and a positive return on equity of 16.15%. The firm had revenue of $154.91 million for the quarter, compared to the consensus estimate of $146.44 million. On average, analysts expect Vertex to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Vertex Stock Down 0.2 %

VERX stock opened at $29.26 on Monday. The firm has a 50 day moving average of $30.06 and a 200-day moving average of $27.29. Vertex has a 12 month low of $17.59 and a 12 month 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.

Insider Buying and Selling at Vertex

In other news, insider Item Second Irr. Trust Fbo Ann sold 26,609 shares of the company’s stock in a transaction on 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 sale, the insider now owns 1,338,465 shares of the company’s stock, valued at approximately $44,999,193.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Item Second Irr. Trust Fbo Ann sold 26,609 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $33.62, for a total value of $894,594.58. Following the completion of the sale, the insider now owns 1,338,465 shares of the company’s stock, valued at approximately $44,999,193.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider 2020 Irrevocable Trust For Ben sold 30,692 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $30.22, for a total value of $927,512.24. 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 ninety days. Insiders own 45.00% of the company’s stock.

Analyst Ratings Changes

VERX has been the subject of several analyst reports. Citigroup cut their price target on shares of Vertex from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, April 23rd. Needham & Company LLC boosted their target price on Vertex from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. JMP Securities restated a “market outperform” rating and issued a $42.00 target price on shares of Vertex in a research note on Tuesday, April 23rd. Jefferies Financial Group lifted their price target on Vertex from $27.00 to $35.00 and gave the company a “hold” rating in a research report on Friday, March 1st. Finally, Bank of America cut their price objective on Vertex from $40.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, April 23rd. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Vertex currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.67.

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.