Analysts Set Vertex, Inc. (NASDAQ:VERX) Price Target at $42.71

Vertex, Inc. (NASDAQ:VERX) has received a consensus recommendation of “Moderate Buy” from the sixteen analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $42.7143.

Several equities research analysts have recently weighed in on the company. Bank of America cut their target price on Vertex from $42.00 to $34.00 and set a “neutral” rating on the stock in a research report on Friday, August 8th. Needham & Company LLC cut their target price on Vertex from $60.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Stephens assumed coverage on Vertex in a research report on Friday, September 26th. They set an “overweight” rating and a $30.00 target price on the stock. DA Davidson lowered Vertex from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 7th. Finally, The Goldman Sachs Group set a $43.00 target price on Vertex and gave the stock a “buy” rating in a research report on Thursday, August 7th.

Vertex Stock Down 0.2%

Vertex stock opened at $24.33 on Friday. The stock has a market cap of $3.88 billion, a PE ratio of -73.73, a P/E/G ratio of 5.02 and a beta of 0.63. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.99 and a quick ratio of 0.99. The stock’s fifty day moving average is $25.05 and its two-hundred day moving average is $32.71. Vertex has a 1-year low of $23.13 and a 1-year high of $60.71.

Vertex (NASDAQ:VERX) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. Vertex had a positive return on equity of 27.16% and a negative net margin of 7.09%.The business had revenue of $184.56 million during the quarter, compared to analysts’ expectations of $184.60 million. During the same period in the prior year, the firm posted $0.15 EPS. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. On average, sell-side analysts expect that Vertex will post 0.38 EPS for the current fiscal year.

Institutional Trading of Vertex

A number of large investors have recently made changes to their positions in VERX. GAMMA Investing LLC boosted its position in shares of Vertex by 1,719.4% in the 1st quarter. GAMMA Investing LLC now owns 5,076 shares of the company’s stock valued at $178,000 after purchasing an additional 4,797 shares during the period. Rhumbline Advisers boosted its position in shares of Vertex by 5.6% in the 1st quarter. Rhumbline Advisers now owns 84,152 shares of the company’s stock valued at $2,946,000 after purchasing an additional 4,477 shares during the period. Handelsbanken Fonder AB boosted its position in shares of Vertex by 46.4% in the 1st quarter. Handelsbanken Fonder AB now owns 18,300 shares of the company’s stock valued at $641,000 after purchasing an additional 5,800 shares during the period. Bank Pictet & Cie Europe AG boosted its position in shares of Vertex by 85.3% in the 1st quarter. Bank Pictet & Cie Europe AG now owns 45,500 shares of the company’s stock valued at $1,593,000 after purchasing an additional 20,940 shares during the period. Finally, Conestoga Capital Advisors LLC boosted its position in shares of Vertex by 30.3% in the 1st quarter. Conestoga Capital Advisors LLC now owns 2,947,740 shares of the company’s stock valued at $103,200,000 after purchasing an additional 686,145 shares during the period. 70.32% of the stock is owned by institutional investors and hedge funds.

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.