Vertex (NASDAQ:VERX) Price Target Raised to $52.00

Vertex (NASDAQ:VERX) had its price objective boosted by Stifel Nicolaus from $41.00 to $52.00 in a research report report published on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Robert W. Baird upped their price target on shares of Vertex from $43.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday. The Goldman Sachs Group lifted their price target on Vertex from $42.00 to $59.00 and gave the company a “buy” rating in a report on Thursday. Jefferies Financial Group raised Vertex from a “hold” rating to a “buy” rating and raised their price objective for the company from $35.00 to $50.00 in a research report on Monday, November 4th. Needham & Company LLC boosted their target price on shares of Vertex from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday. Finally, BMO Capital Markets raised their price target on shares of Vertex from $42.00 to $52.00 and gave the company a “market perform” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Vertex has an average rating of “Moderate Buy” and an average price target of $51.22.

Vertex Trading Up 1.3 %

NASDAQ VERX opened at $51.99 on Thursday. The stock has a market cap of $8.09 billion, a PE ratio of 288.83, a PEG ratio of 14.86 and a beta of 0.67. Vertex has a 12 month low of $22.63 and a 12 month high of $52.93. The company’s 50-day moving average price is $40.15 and its 200-day moving average price is $36.72. The company has a current ratio of 1.04, a quick ratio of 1.17 and a debt-to-equity ratio of 1.29.

Vertex (NASDAQ:VERX) last issued its earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The business had revenue of $170.40 million during the quarter, compared to analyst estimates of $165.70 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. Vertex’s revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 EPS. Equities research analysts forecast that Vertex will post 0.34 earnings per share for the current year.

Insider Activity at Vertex

In other Vertex news, CFO John R. Schwab sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $35.81, for a total transaction of $895,250.00. Following the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO John R. Schwab sold 25,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $35.81, for a total value of $895,250.00. Following the completion of the transaction, the chief financial officer now directly owns 53,104 shares in the company, valued at $1,901,654.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John Richard Stamm sold 16,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $35.95, for a total transaction of $575,200.00. Following the transaction, the director now owns 21,635 shares of the company’s stock, valued at $777,778.25. This 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 valued at $64,039,589 in the last three months. 44.58% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Intech Investment Management LLC acquired a new position in Vertex during the third quarter worth about $448,000. Advisors Asset Management Inc. grew its position in Vertex by 126.2% in the third quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock worth $37,000 after acquiring an additional 540 shares during the period. Jennison Associates LLC grew its holdings in shares of Vertex by 36.0% during the 3rd quarter. Jennison Associates LLC now owns 469,526 shares of the company’s stock worth $18,081,000 after purchasing an additional 124,169 shares during the period. Premier Fund Managers Ltd increased its position in shares of Vertex by 787.0% during the third quarter. Premier Fund Managers Ltd now owns 524,775 shares of the company’s stock valued at $19,280,000 after acquiring an additional 465,610 shares during the last quarter. Finally, Quest Partners LLC increased its holdings in Vertex by 344.5% in the 3rd quarter. Quest Partners LLC now owns 4,529 shares of the company’s stock valued at $174,000 after purchasing an additional 3,510 shares during the last quarter. Hedge funds and other institutional investors 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.