Vertex (NASDAQ:VERX) Given New $52.00 Price Target at BMO Capital Markets

Vertex (NASDAQ:VERX) had its target price raised by BMO Capital Markets from $42.00 to $52.00 in a report published on Thursday morning,Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

Several other equities analysts have also recently issued reports on VERX. Robert W. Baird began coverage on shares of Vertex in a research note on Tuesday, July 23rd. They set an “outperform” rating and a $43.00 target price on the stock. Jefferies Financial Group raised shares of Vertex from a “hold” rating to a “buy” rating and lifted their target price for the stock from $35.00 to $50.00 in a research report on Monday, November 4th. Needham & Company LLC increased their price target on Vertex from $45.00 to $60.00 and gave the company a “buy” rating in a report on Thursday. JMP Securities raised their price target on Vertex from $47.00 to $61.00 and gave the stock a “market outperform” rating in a research note on Thursday. Finally, Baird R W upgraded Vertex to a “strong-buy” rating in a research report on Tuesday, July 23rd. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Vertex has a consensus rating of “Moderate Buy” and a consensus target price of $51.22.

Vertex Stock Up 1.3 %

NASDAQ:VERX opened at $51.99 on Thursday. The firm has a 50-day simple moving average of $40.15 and a two-hundred day simple moving average of $36.72. The firm has a market cap of $8.09 billion, a P/E ratio of 288.83, a P/E/G ratio of 14.86 and a beta of 0.67. Vertex has a fifty-two week low of $22.63 and a fifty-two week high of $52.93. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.17 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 for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $170.40 million during the quarter, compared to analyst estimates of $165.70 million. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.06 EPS. Analysts predict that Vertex will post 0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Item Second Irr. Trust Fbo Jac sold 56,419 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $40.77, for a total transaction of $2,300,202.63. Following the completion of the transaction, the insider now owns 932,706 shares in the company, valued at approximately $38,026,423.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO John R. Schwab sold 25,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $1,901,654.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Item Second Irr. Trust Fbo Jac sold 56,419 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $40.77, for a total value of $2,300,202.63. Following the transaction, the insider now owns 932,706 shares of the company’s stock, valued at $38,026,423.62. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,629,244 shares of company stock worth $64,039,589 in the last three months. 44.58% of the stock is owned by company insiders.

Institutional Trading of Vertex

Several hedge funds have recently made changes to their positions in the business. Blue Trust Inc. purchased a new stake in Vertex during the second quarter valued at approximately $28,000. Advisors Asset Management Inc. lifted its holdings in shares of Vertex by 126.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock worth $37,000 after acquiring an additional 540 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Vertex during the 2nd quarter worth about $37,000. Canada Pension Plan Investment Board bought a new position in Vertex during the 2nd quarter valued at about $40,000. Finally, Amalgamated Bank purchased a new stake in Vertex in the 2nd quarter worth about $68,000. 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.