Vertex, Inc. (NASDAQ:VERX) Receives Average Recommendation of “Moderate Buy” from Analysts

Vertex, Inc. (NASDAQ:VERX) has received an average recommendation of “Moderate Buy” from the ten research firms that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $35.78.

VERX has been the subject of a number of research reports. BMO Capital Markets lifted their price target on Vertex from $30.00 to $35.00 and gave the stock a “market perform” rating in a research report on Friday, March 1st. Needham & Company LLC raised their price target on shares of Vertex from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Bank of America upgraded shares of Vertex from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $23.00 to $40.00 in a research note on Friday, March 1st. Citigroup lowered their price target on shares of Vertex from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, January 12th. Finally, The Goldman Sachs Group lifted their price objective on Vertex from $33.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, March 1st.

Vertex Stock Down 1.3 %

Shares of VERX stock opened at $29.82 on Wednesday. The stock’s fifty day moving average price is $29.09 and its 200 day moving average price is $26.78. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.60 and a quick ratio of 0.60. Vertex has a 1-year low of $17.59 and a 1-year high of $35.38. The company has a market cap of $4.60 billion, a price-to-earnings ratio of -298.20, a price-to-earnings-growth ratio of 8.08 and a beta of 0.62.

Vertex (NASDAQ:VERX) last released its earnings results on Thursday, February 29th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. Vertex had a negative net margin of 2.29% and a positive return on equity of 16.15%. The company had revenue of $154.91 million during the quarter, compared to analysts’ expectations of $146.44 million. On average, research analysts expect that Vertex will post 0.36 earnings per share for the current fiscal year.

Insider Activity

In other Vertex news, insider Item Second Irr. Trust Fbo Ann sold 26,609 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $33.62, for a total value of $894,594.58. Following the transaction, the insider now owns 1,338,465 shares in the company, valued at approximately $44,999,193.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director John Richard Stamm sold 6,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.48, for a total value of $191,620.00. Following the completion of the sale, the director now directly owns 15,930 shares in the company, valued at $469,616.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Item Second Irr. Trust Fbo Ann sold 26,609 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $33.62, for a total value of $894,594.58. Following the completion of the sale, the insider now directly owns 1,338,465 shares of the company’s stock, valued at approximately $44,999,193.30. The disclosure for this sale can be found here. Insiders have sold a total of 1,161,048 shares of company stock worth $35,034,678 over the last quarter. 45.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vertex

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ensign Peak Advisors Inc purchased a new position in shares of Vertex during the 1st quarter worth $33,000. Point72 Asset Management L.P. acquired a new stake in Vertex during the fourth quarter worth about $38,000. Wells Fargo & Company MN raised its stake in Vertex by 124.1% during the second quarter. Wells Fargo & Company MN now owns 2,024 shares of the company’s stock worth $39,000 after purchasing an additional 1,121 shares during the period. Deutsche Bank AG acquired a new position in Vertex in the 4th quarter valued at about $41,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of Vertex in the 4th quarter valued at approximately $46,000. Institutional investors and hedge funds own 59.10% of the company’s stock.

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.