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

Vertex, Inc. (NASDAQ:VERX) has been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $37.30.

A number of analysts have recently commented on VERX shares. Robert W. Baird assumed coverage on Vertex in a research report on Tuesday, July 23rd. They issued an “outperform” rating and a $43.00 price target on the stock. Citigroup boosted their target price on Vertex from $32.00 to $36.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. JMP Securities raised their price target on Vertex from $42.00 to $47.00 and gave the company a “market outperform” rating in a report on Wednesday, July 31st. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price target on shares of Vertex in a research note on Thursday, June 13th. Finally, Baird R W raised shares of Vertex to a “strong-buy” rating in a research report on Tuesday, July 23rd.

Vertex Price Performance

VERX opened at $39.21 on Wednesday. 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 market capitalization of $6.10 billion, a PE ratio of 980.25, a price-to-earnings-growth ratio of 10.50 and a beta of 0.69. The stock’s 50 day moving average price is $36.93 and its 200-day moving average price is $34.25. Vertex has a 52-week low of $21.87 and a 52-week high of $40.05.

Vertex (NASDAQ:VERX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.02. The business had revenue of $161.10 million for the quarter, compared to analysts’ expectations of $160.66 million. Vertex had a return on equity of 22.32% and a net margin of 3.20%. The business’s revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.04 EPS. On average, equities research analysts predict that Vertex will post 0.34 EPS for the current year.

Insider Activity

In other news, Director John Richard Stamm sold 16,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $35.95, for a total transaction of $575,200.00. Following the transaction, the director now owns 21,635 shares in the company, valued at $777,778.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO John R. Schwab sold 25,000 shares of the company’s 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 transaction, the chief financial officer now directly owns 53,104 shares of the company’s stock, valued at $1,901,654.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John Richard Stamm sold 16,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $35.95, for a total value of $575,200.00. Following the completion of the sale, the director now owns 21,635 shares of the company’s stock, valued at $777,778.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,699,900 shares of company stock valued at $64,107,653. Corporate insiders own 45.00% of the company’s stock.

Institutional Trading of Vertex

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. acquired a new position in Vertex in the 2nd quarter worth approximately $28,000. Quest Partners LLC acquired a new stake in shares of Vertex in the second quarter worth $37,000. Canada Pension Plan Investment Board purchased a new position in shares of Vertex during the second quarter worth $40,000. Amalgamated Bank acquired a new position in Vertex during the second quarter valued at $68,000. Finally, Sandia Investment Management LP purchased a new stake in Vertex in the first quarter valued at $159,000. Institutional investors and hedge funds own 59.10% of the company’s stock.

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.