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

Shares of Vertex, Inc. (NASDAQ:VERX) have received an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $49.82.

Several research analysts recently issued reports on VERX shares. DA Davidson reduced their price target on shares of Vertex from $62.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Stifel Nicolaus lowered shares of Vertex from a “buy” rating to a “hold” rating and reduced their target price for the stock from $58.00 to $31.00 in a research report on Friday, February 28th. Jefferies Financial Group decreased their price target on shares of Vertex from $62.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Raymond James restated a “market perform” rating on shares of Vertex in a research report on Friday, January 3rd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $61.00 price objective on shares of Vertex in a research report on Monday, December 9th.

Insiders Place Their Bets

In other Vertex news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the firm’s stock in a transaction dated 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 transaction, the general counsel now owns 132 shares in the company, valued at approximately $4,749.36. This trade represents a 99.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $56.48, for a total value of $3,041,052.64. Following the transaction, the insider now owns 1,229,257 shares of the company’s stock, valued at $69,428,435.36. The trade was a 4.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 44.58% of the company’s stock.

Institutional Investors Weigh In On Vertex

Several large investors have recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its position in shares of Vertex by 126.2% during the third quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock worth $37,000 after purchasing an additional 540 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in Vertex during the 4th quarter worth $38,000. Mark Sheptoff Financial Planning LLC acquired a new stake in Vertex during the 4th quarter worth $40,000. Plato Investment Management Ltd bought a new position in Vertex during the fourth quarter worth about $41,000. Finally, Armstrong Advisory Group Inc. acquired a new position in Vertex in the fourth quarter valued at about $50,000. Institutional investors own 70.32% of the company’s stock.

Vertex Stock Down 0.9 %

Shares of VERX opened at $35.55 on Wednesday. The company has a market capitalization of $5.62 billion, a P/E ratio of 197.50, a PEG ratio of 6.66 and a beta of 0.87. Vertex has a one year low of $27.22 and a one year high of $60.71. The business’s 50 day simple moving average is $44.43 and its 200-day simple moving average is $46.52. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04.

Vertex (NASDAQ:VERX) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). The business had revenue of $178.46 million during the quarter, compared to analyst estimates of $176.90 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. As a group, sell-side analysts predict that Vertex will post 0.38 EPS for the current fiscal year.

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.