Vertex (NASDAQ:VERX) Price Target Raised to $52.00

Vertex (NASDAQ:VERX) had its price objective hoisted by Stifel Nicolaus from $41.00 to $52.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also commented on VERX. Needham & Company LLC lifted their price objective on shares of Vertex from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday. BMO Capital Markets boosted their price target on Vertex from $42.00 to $52.00 and gave the company a “market perform” rating in a research report on Thursday. Jefferies Financial Group raised Vertex from a “hold” rating to a “buy” rating and increased their price objective for the stock from $35.00 to $50.00 in a research report on Monday, November 4th. JMP Securities boosted their target price on Vertex from $47.00 to $61.00 and gave the company a “market outperform” rating in a report on Thursday. Finally, Baird R W upgraded Vertex to a “strong-buy” rating in a research note on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Vertex has an average rating of “Moderate Buy” and a consensus target price of $47.27.

Vertex Trading Up 1.3 %

VERX opened at $51.99 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.43. Vertex has a 52 week low of $22.63 and a 52 week high of $52.93. The business’s 50 day moving average is $40.15 and its two-hundred day moving average is $36.66. The firm has a market cap of $8.09 billion, a price-to-earnings ratio of 288.83, a price-to-earnings-growth ratio of 14.22 and a beta of 0.67.

Vertex (NASDAQ:VERX) last announced its earnings results on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 4.73% and a return on equity of 25.27%. The company’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.04 EPS. On average, research analysts predict that Vertex will post 0.34 EPS for the current year.

Insider Buying and Selling at Vertex

In other 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 transaction, the insider now directly owns 932,706 shares of the company’s stock, valued at $38,026,423.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, major shareholder Jeffrey Westphal sold 1,225,000 shares of Vertex stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $39.42, for a total transaction of $48,289,500.00. Following the completion of the transaction, the insider now directly owns 7,895 shares of the company’s stock, valued at approximately $311,220.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Item Second Irr. Trust Fbo Jac sold 56,419 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $40.77, for a total value of $2,300,202.63. Following the sale, the insider now owns 932,706 shares in the company, valued at approximately $38,026,423.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,629,244 shares of company stock valued at $64,039,589. 44.58% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. acquired a new stake in Vertex in the 2nd quarter valued at about $28,000. Quest Partners LLC purchased a new stake in shares of Vertex in the second quarter valued at about $37,000. Advisors Asset Management Inc. grew its position in shares of Vertex by 126.2% in the third quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock valued at $37,000 after purchasing an additional 540 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Vertex in the second quarter valued at approximately $40,000. Finally, Amalgamated Bank purchased a new position in shares of Vertex during the 2nd quarter worth approximately $68,000. 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.