Vertex (NASDAQ:VERX) Price Target Raised to $52.00 at BMO Capital Markets

Vertex (NASDAQ:VERX) had its price objective increased by BMO Capital Markets from $42.00 to $52.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a market perform rating on the stock.

Other analysts also recently issued reports about the stock. JMP Securities increased their price target on shares of Vertex from $47.00 to $61.00 and gave the company a “market outperform” rating in a research report on Thursday. Robert W. Baird started coverage on shares of Vertex in a report on Tuesday, July 23rd. They issued an “outperform” rating and a $43.00 target price on the stock. The Goldman Sachs Group boosted their price target on shares of Vertex from $42.00 to $59.00 and gave the company a “buy” rating in a report on Thursday. Baird R W upgraded Vertex to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, Needham & Company LLC increased their price target on Vertex from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Vertex has a consensus rating of “Moderate Buy” and a consensus target price of $47.27.

Vertex Trading Up 1.3 %

VERX traded up $0.66 during trading on Thursday, reaching $51.99. 1,737,449 shares of the company’s stock were exchanged, compared to its average volume of 775,053. The company’s fifty day moving average price is $39.88 and its 200-day moving average price is $36.45. The firm has a market capitalization of $8.09 billion, a PE ratio of 285.17, a P/E/G ratio of 14.22 and a beta of 0.67. Vertex has a fifty-two week low of $22.63 and a fifty-two week high of $52.93. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.17 and a current ratio of 1.17.

Vertex (NASDAQ:VERX) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. Vertex had a return on equity of 25.27% and a net margin of 4.73%. The business had revenue of $161.10 million during the quarter, compared to the consensus estimate of $160.66 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. The firm’s revenue was up 15.3% on a year-over-year basis. As a group, equities analysts forecast that Vertex will post 0.34 EPS for the current year.

Insider Activity

In related news, insider Item Second Irr. Trust Fbo Jac sold 49,114 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $41.31, for a total value of $2,028,899.34. Following the completion of the sale, the insider now directly owns 1,067,852 shares in the company, valued at $44,112,966.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Item Second Irr. Trust Fbo Jac sold 49,114 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $41.31, for a total transaction of $2,028,899.34. Following the completion of the sale, the insider now directly owns 1,067,852 shares in the company, valued at approximately $44,112,966.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO John R. Schwab sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $35.81, for a total transaction of $895,250.00. Following the completion of the transaction, the chief financial officer now owns 53,104 shares of the company’s stock, valued at $1,901,654.24. 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 have sold 1,629,244 shares of company stock valued at $64,039,589. 44.58% of the stock is owned by insiders.

Hedge Funds Weigh In On Vertex

A number of hedge funds have recently modified their holdings of VERX. Vanguard Group Inc. raised its position in shares of Vertex by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 5,791,215 shares of the company’s stock worth $183,929,000 after acquiring an additional 235,407 shares in the last quarter. Geneva Capital Management LLC lifted its stake in Vertex by 40.1% in the third quarter. Geneva Capital Management LLC now owns 1,450,599 shares of the company’s stock valued at $55,863,000 after buying an additional 414,945 shares during the period. TimesSquare Capital Management LLC boosted its holdings in shares of Vertex by 2.3% during the 1st quarter. TimesSquare Capital Management LLC now owns 1,386,848 shares of the company’s stock worth $44,046,000 after buying an additional 30,523 shares in the last quarter. Banque Pictet & Cie SA increased its stake in shares of Vertex by 551.9% in the 2nd quarter. Banque Pictet & Cie SA now owns 949,540 shares of the company’s stock valued at $34,231,000 after acquiring an additional 803,881 shares in the last quarter. Finally, Pembroke Management LTD lifted its position in shares of Vertex by 255.3% during the 1st quarter. Pembroke Management LTD now owns 927,129 shares of the company’s stock valued at $29,446,000 after acquiring an additional 666,223 shares during the period. 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.