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

Shares of Vertex, Inc. (NASDAQ:VERX) have been assigned an average recommendation of “Moderate Buy” from the twelve research firms that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $37.30.

VERX has been the topic of a number of recent research reports. Robert W. Baird initiated coverage on Vertex in a report on Tuesday, July 23rd. They issued an “outperform” rating and a $43.00 target price on the stock. Baird R W upgraded Vertex to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, JMP Securities increased their target price on Vertex from $42.00 to $47.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 31st.

Insider Buying and Selling at Vertex

In other news, CFO John R. Schwab sold 25,000 shares of Vertex stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $35.81, for a total transaction of $895,250.00. Following the sale, the chief financial officer now directly owns 53,104 shares in the company, valued at $1,901,654.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO John R. Schwab sold 25,000 shares of Vertex stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $35.81, for a total transaction of $895,250.00. Following the sale, the chief financial officer now directly owns 53,104 shares in the company, valued at $1,901,654.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 sale, the director now owns 21,635 shares in the company, valued at $777,778.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,629,244 shares of company stock worth $64,039,589. Corporate insiders own 45.00% of the company’s stock.

Institutional Investors Weigh In On Vertex

Hedge funds have recently made changes to their positions in the business. Silvercrest Asset Management Group LLC increased its holdings in Vertex by 13.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 712,926 shares of the company’s stock worth $22,643,000 after acquiring an additional 85,237 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in Vertex in the 2nd quarter worth about $22,173,000. Allspring Global Investments Holdings LLC purchased a new stake in Vertex in the 1st quarter worth about $12,043,000. Quadrature Capital Ltd increased its holdings in Vertex by 24.7% in the 1st quarter. Quadrature Capital Ltd now owns 92,167 shares of the company’s stock worth $2,927,000 after acquiring an additional 18,258 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Vertex by 10.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 248,001 shares of the company’s stock worth $8,940,000 after acquiring an additional 22,514 shares during the last quarter. 59.10% of the stock is currently owned by institutional investors.

Vertex Stock Performance

Shares of VERX stock opened at $42.07 on Friday. The company has a market cap of $6.53 billion, a price-to-earnings ratio of 1,051.75, a price-to-earnings-growth ratio of 12.04 and a beta of 0.68. Vertex has a 52 week low of $21.92 and a 52 week high of $43.33. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.43. The firm has a 50 day moving average of $38.54 and a 200-day moving average of $35.61.

Vertex (NASDAQ:VERX) last issued its earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. Vertex had a return on equity of 22.32% and a net margin of 3.20%. The company had revenue of $161.10 million for the quarter, compared to analysts’ expectations of $160.66 million. During the same period last year, the business earned $0.04 EPS. Vertex’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, equities analysts forecast that Vertex will post 0.34 earnings per share 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.