Robert W. Baird Issues Positive Forecast for Vertex (NASDAQ:VERX) Stock Price

Vertex (NASDAQ:VERX) had its price objective hoisted by Robert W. Baird from $43.00 to $57.00 in a research note released on Thursday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other equities research analysts also recently issued reports on VERX. Needham & Company LLC raised their price target on Vertex from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday. Baird R W raised Vertex to a “strong-buy” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group raised Vertex from a “hold” rating to a “buy” rating and increased their price objective for the company from $35.00 to $50.00 in a research report on Monday, November 4th. JMP Securities boosted their target price on shares of Vertex from $47.00 to $61.00 and gave the stock a “market outperform” rating in a research report on Thursday. Finally, BMO Capital Markets boosted their price target on Vertex from $42.00 to $52.00 and gave the company a “market perform” rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Vertex currently has an average rating of “Moderate Buy” and an average price target of $51.22.

Vertex Trading Up 1.3 %

Vertex stock opened at $51.99 on Thursday. Vertex has a one year low of $22.63 and a one year high of $52.93. The company’s fifty day moving average price is $40.15 and its two-hundred day moving average price is $36.72. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.17. The company has a market capitalization of $8.09 billion, a price-to-earnings ratio of 288.83, a PEG ratio of 14.86 and a beta of 0.67.

Vertex (NASDAQ:VERX) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The company had revenue of $170.40 million for the quarter, compared to the consensus estimate of $165.70 million. During the same quarter last year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, analysts forecast that Vertex will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vertex news, insider Item Second Irr. Trust Fbo Jac sold 49,114 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $41.31, for a total value of $2,028,899.34. Following the sale, the insider now directly owns 1,067,852 shares in the company, valued at $44,112,966.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Vertex news, CFO John R. Schwab sold 25,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $35.81, for a total value of $895,250.00. Following the transaction, the chief financial officer now owns 53,104 shares of the company’s stock, valued at approximately $1,901,654.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Item Second Irr. Trust Fbo Jac sold 49,114 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $41.31, for a total value of $2,028,899.34. Following the completion of the sale, the insider now owns 1,067,852 shares of the company’s stock, valued at approximately $44,112,966.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,629,244 shares of company stock worth $64,039,589 in the last 90 days. 44.58% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Banque Pictet & Cie SA increased its stake in shares of Vertex by 551.9% in the 2nd quarter. Banque Pictet & Cie SA now owns 949,540 shares of the company’s stock valued at $34,231,000 after buying an additional 803,881 shares during the period. Pembroke Management LTD increased its position in Vertex by 255.3% in the first quarter. Pembroke Management LTD now owns 927,129 shares of the company’s stock worth $29,446,000 after purchasing an additional 666,223 shares during the period. Driehaus Capital Management LLC acquired a new stake in Vertex in the second quarter worth about $22,173,000. Premier Fund Managers Ltd raised its holdings in Vertex by 787.0% during the 3rd quarter. Premier Fund Managers Ltd now owns 524,775 shares of the company’s stock worth $19,280,000 after purchasing an additional 465,610 shares during the last quarter. Finally, Geneva Capital Management LLC grew its position in shares of Vertex by 40.1% during the 3rd quarter. Geneva Capital Management LLC now owns 1,450,599 shares of the company’s stock worth $55,863,000 after buying an additional 414,945 shares during the period. 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.