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

Shares of Vertex, Inc. (NASDAQ:VERX) have been assigned a consensus rating of “Moderate Buy” from the twelve analysts that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $37.30.

A number of brokerages have recently issued reports on VERX. Citigroup lifted their price target on Vertex from $32.00 to $36.00 and gave the company a “neutral” rating in a report on Friday, June 28th. JMP Securities boosted their target price on shares of Vertex from $42.00 to $47.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 31st. Baird R W upgraded Vertex to a “strong-buy” rating in a research note on Tuesday, July 23rd. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of Vertex in a report on Thursday, June 13th. Finally, Robert W. Baird began coverage on shares of Vertex in a research report on Tuesday, July 23rd. They issued an “outperform” rating and a $43.00 price objective for the company.

Insider Buying and Selling

In other Vertex news, Director John Richard Stamm sold 16,000 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 21,635 shares in the company, valued at approximately $777,778.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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 completion of the transaction, the chief financial officer now owns 53,104 shares in the company, valued at approximately $1,901,654.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Richard Stamm sold 16,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $35.95, for a total value of $575,200.00. Following the completion of the transaction, the director now directly owns 21,635 shares of the company’s stock, valued at $777,778.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,699,900 shares of company stock valued at $64,107,653. 45.00% of the stock is currently owned by insiders.

Institutional Trading of Vertex

Large investors have recently bought and sold shares of the business. Blue Trust Inc. purchased a new stake in shares of Vertex in the second quarter valued at about $28,000. Quest Partners LLC purchased a new position in Vertex during the second quarter worth about $37,000. Canada Pension Plan Investment Board purchased a new position in shares of Vertex in the second quarter valued at $40,000. Amalgamated Bank acquired a new position in Vertex during the second quarter worth about $68,000. Finally, Sandia Investment Management LP acquired a new position in Vertex during the first quarter worth about $159,000. Institutional investors and hedge funds own 59.10% of the company’s stock.

Vertex Price Performance

NASDAQ:VERX opened at $35.25 on Friday. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of 881.25, a PEG ratio of 10.08 and a beta of 0.69. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.17 and a quick ratio of 1.17. The business has a 50 day simple moving average of $36.93 and a 200-day simple moving average of $33.51. Vertex has a 1 year low of $20.48 and a 1 year high of $40.05.

Vertex (NASDAQ:VERX) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. The company had revenue of $161.10 million for the quarter, compared to the consensus estimate of $160.66 million. Vertex had a net margin of 3.20% and a return on equity of 22.32%. The firm’s revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.04 EPS. Equities analysts forecast that Vertex will post 0.34 EPS for the current 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.