Vertex, Inc. (NASDAQ:VERX) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Vertex, Inc. (NASDAQ:VERX) have received an average rating of “Moderate Buy” from the thirteen analysts that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $48.91.

VERX has been the topic of several recent analyst reports. DA Davidson reduced their price target on shares of Vertex from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. The Goldman Sachs Group decreased their price target on shares of Vertex from $64.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Morgan Stanley dropped their price objective on Vertex from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday. Jefferies Financial Group decreased their target price on Vertex from $62.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Finally, Robert W. Baird dropped their price target on Vertex from $62.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th.

Vertex Price Performance

NASDAQ:VERX opened at $39.25 on Friday. The firm has a market capitalization of $6.21 billion, a price-to-earnings ratio of 218.06, a PEG ratio of 6.66 and a beta of 0.80. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04. The business has a 50 day simple moving average of $37.71 and a 200-day simple moving average of $46.39. Vertex has a 1 year low of $27.22 and a 1 year high of $60.71.

Vertex (NASDAQ:VERX) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.03). The firm had revenue of $178.46 million for the quarter, compared to the consensus estimate of $176.90 million. Vertex had a net margin of 4.73% and a return on equity of 24.92%. Equities analysts forecast that Vertex will post 0.38 EPS for the current year.

Insiders Place Their Bets

In other Vertex news, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $56.48, for a total transaction of $3,041,052.64. Following the transaction, the insider now owns 1,229,257 shares in the company, valued at approximately $69,428,435.36. This represents a 4.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Bryan T.R. Rowland sold 43,228 shares of Vertex stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $35.98, for a total transaction of $1,555,343.44. Following the sale, the general counsel now owns 132 shares of the company’s stock, valued at $4,749.36. The trade was a 99.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 44.58% of the company’s stock.

Institutional Trading of Vertex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VERX. Versant Capital Management Inc purchased a new stake in Vertex in the first quarter valued at approximately $28,000. Steward Partners Investment Advisory LLC acquired a new position in Vertex during the fourth quarter valued at $38,000. Mark Sheptoff Financial Planning LLC purchased a new stake in Vertex in the fourth quarter valued at $40,000. Plato Investment Management Ltd acquired a new stake in Vertex during the 4th quarter worth about $41,000. Finally, Armstrong Advisory Group Inc. acquired a new position in shares of Vertex in the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 70.32% of the company’s stock.

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.