Vertex, Inc. (NASDAQ:VERX) Receives $52.30 Average PT from Analysts

Vertex, Inc. (NASDAQ:VERX) has been given a consensus recommendation of “Moderate Buy” by the eleven ratings firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $52.30.

A number of research analysts recently weighed in on the stock. BMO Capital Markets raised their price target on shares of Vertex from $42.00 to $52.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Jefferies Financial Group upgraded Vertex from a “hold” rating to a “buy” rating and raised their target price for the company from $35.00 to $50.00 in a research report on Monday, November 4th. JMP Securities boosted their price target on Vertex from $47.00 to $61.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 7th. Stifel Nicolaus raised their price objective on Vertex from $41.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Needham & Company LLC lifted their target price on shares of Vertex from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

Insider Transactions at Vertex

In related news, major shareholder Jeffrey Westphal sold 1,225,000 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $39.42, for a total value of $48,289,500.00. Following the completion of the transaction, the insider now directly owns 7,895 shares in the company, valued at approximately $311,220.90. This represents a 99.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 40,966 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $52.16, for a total value of $2,136,786.56. Following the sale, the insider now directly owns 1,389,134 shares of the company’s stock, valued at approximately $72,457,229.44. This trade represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,330,722 shares of company stock worth $197,009,011 in the last quarter. Company insiders own 44.58% of the company’s stock.

Hedge Funds Weigh In On Vertex

A number of hedge funds have recently modified their holdings of the business. Verdence Capital Advisors LLC increased its holdings in Vertex by 6.1% in the 3rd quarter. Verdence Capital Advisors LLC now owns 8,313 shares of the company’s stock valued at $320,000 after purchasing an additional 477 shares during the last quarter. Advisors Asset Management Inc. grew its stake 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 buying an additional 540 shares in the last quarter. KBC Group NV raised its holdings in shares of Vertex by 46.1% in the 3rd quarter. KBC Group NV now owns 2,099 shares of the company’s stock valued at $81,000 after buying an additional 662 shares during the period. Ellsworth Advisors LLC lifted its stake in Vertex by 4.4% during the 3rd quarter. Ellsworth Advisors LLC now owns 16,707 shares of the company’s stock worth $643,000 after acquiring an additional 697 shares in the last quarter. Finally, Blue Trust Inc. purchased a new position in Vertex during the 2nd quarter valued at about $28,000. 59.10% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Trading Up 0.7 %

Shares of VERX stock opened at $53.83 on Thursday. Vertex has a 1-year low of $23.31 and a 1-year high of $54.50. The company has a market cap of $8.40 billion, a price-to-earnings ratio of 299.06, a PEG ratio of 10.03 and a beta of 0.67. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a 50 day simple moving average of $43.09 and a 200-day simple moving average of $38.10.

Vertex (NASDAQ:VERX) last posted 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. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The company had revenue of $170.40 million during the quarter, compared to analysts’ expectations of $165.70 million. During the same period in the prior year, the business posted $0.06 earnings per share. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, equities research analysts expect that Vertex will post 0.38 EPS for the current fiscal year.

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.