The Goldman Sachs Group Issues Positive Forecast for Vertex (NASDAQ:VERX) Stock Price

Vertex (NASDAQ:VERX) had its target price boosted by The Goldman Sachs Group from $42.00 to $59.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued reports about the company. Needham & Company LLC boosted their price target on Vertex from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday. Baird R W upgraded shares of Vertex to a “strong-buy” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group raised Vertex from a “hold” rating to a “buy” rating and raised their price objective for the stock from $35.00 to $50.00 in a research report on Monday. JMP Securities increased their price target on Vertex from $42.00 to $47.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 31st. Finally, Robert W. Baird assumed coverage on shares of Vertex in a report on Tuesday, July 23rd. They set an “outperform” rating and a $43.00 price objective on the stock. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.27.

Vertex Trading Up 1.3 %

NASDAQ VERX traded up $0.66 during trading on Thursday, hitting $51.99. The stock had a trading volume of 1,737,449 shares, compared to its average volume of 775,053. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a 50 day simple moving average of $39.88 and a 200 day simple moving average of $36.45. Vertex has a one year low of $22.63 and a one year high of $52.93. The stock has a market capitalization of $8.09 billion, a price-to-earnings ratio of 285.17, a P/E/G ratio of 14.22 and a beta of 0.67.

Vertex (NASDAQ:VERX) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02. Vertex had a return on equity of 25.27% and a net margin of 4.73%. The company had revenue of $161.10 million for the quarter, compared to the consensus estimate of $160.66 million. During the same period last year, the business posted $0.04 EPS. Vertex’s quarterly revenue was up 15.3% on a year-over-year basis. Sell-side analysts predict that Vertex will post 0.34 earnings per share for the current year.

Insider Activity

In other Vertex news, Director John Richard Stamm sold 16,000 shares of Vertex stock in a transaction dated Thursday, August 22nd. The stock was 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director John Richard Stamm sold 16,000 shares of Vertex stock in a transaction on Thursday, August 22nd. The stock was 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 in the company, valued at approximately $777,778.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO John R. Schwab sold 25,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $35.81, for a total value of $895,250.00. Following the completion of the sale, the chief financial officer now directly owns 53,104 shares in the company, valued at $1,901,654.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,629,244 shares of company stock valued at $64,039,589 in the last 90 days. Company insiders own 44.58% of the company’s stock.

Hedge Funds Weigh In On Vertex

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. acquired a new position in shares of Vertex during the 2nd quarter worth $28,000. Quest Partners LLC acquired a new position in Vertex in the 2nd quarter valued at about $37,000. Canada Pension Plan Investment Board acquired a new stake in Vertex during the second quarter worth approximately $40,000. Amalgamated Bank acquired a new position in Vertex in the second quarter valued at $68,000. Finally, KBC Group NV boosted its position in shares of Vertex by 46.1% in the third quarter. KBC Group NV now owns 2,099 shares of the company’s stock worth $81,000 after acquiring an additional 662 shares during the last quarter. 59.10% of the stock is currently owned by hedge funds and other institutional investors.

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.