Vertex, Inc. (NASDAQ:VERX) Receives $52.30 Consensus Target Price from Analysts

Shares of Vertex, Inc. (NASDAQ:VERX) have received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $54.70.

A number of research analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Vertex from $50.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. BMO Capital Markets upped their price target on shares of Vertex from $42.00 to $52.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Stifel Nicolaus lifted their price objective on Vertex from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Jefferies Financial Group raised Vertex from a “hold” rating to a “buy” rating and upped their target price for the stock from $35.00 to $50.00 in a research report on Monday, November 4th. Finally, 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, November 7th.

Insider Buying and Selling

In related news, General Counsel Bryan T.R. Rowland sold 3,020 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $55.08, for a total transaction of $166,341.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Jeffrey Westphal sold 2,485,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $48.90, for a total value of $121,516,500.00. Following the completion of the sale, the insider now directly owns 7,895 shares in the company, valued at $386,065.50. This trade represents a 99.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,007,563 shares of company stock valued at $235,917,246. Company insiders own 44.58% of the company’s stock.

Institutional Investors Weigh In On Vertex

Hedge funds have recently modified their holdings of the business. FMR LLC increased its position in Vertex by 2.5% during the third quarter. FMR LLC now owns 2,287,774 shares of the company’s stock worth $88,102,000 after acquiring an additional 54,985 shares during the period. Franklin Resources Inc. increased its holdings in shares of Vertex by 17.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,690,045 shares of the company’s stock worth $69,444,000 after purchasing an additional 253,263 shares during the period. Geneva Capital Management LLC raised its position in shares of Vertex by 40.1% during the third quarter. Geneva Capital Management LLC now owns 1,450,599 shares of the company’s stock valued at $55,863,000 after buying an additional 414,945 shares during the last quarter. State Street Corp lifted its stake in shares of Vertex by 36.4% in the third quarter. State Street Corp now owns 1,361,901 shares of the company’s stock valued at $52,447,000 after buying an additional 363,595 shares during the period. Finally, Geode Capital Management LLC grew its position in Vertex by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,275,283 shares of the company’s stock worth $49,121,000 after buying an additional 37,592 shares in the last quarter. 70.32% of the stock is owned by institutional investors.

Vertex Trading Down 0.1 %

NASDAQ VERX opened at $53.53 on Monday. The firm’s 50 day moving average price is $49.45 and its two-hundred day moving average price is $41.29. The stock has a market cap of $8.35 billion, a price-to-earnings ratio of 297.39, a PEG ratio of 9.83 and a beta of 0.77. Vertex has a twelve month low of $23.31 and a twelve month high of $57.74. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04.

Vertex (NASDAQ:VERX) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The firm had revenue of $170.40 million during the quarter, compared to the consensus estimate of $165.70 million. During the same period in the prior year, the business earned $0.06 EPS. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. Equities analysts anticipate that Vertex will post 0.38 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.