JMP Securities Boosts Vertex (NASDAQ:VERX) Price Target to $61.00

Vertex (NASDAQ:VERX) had its price objective hoisted by equities researchers at JMP Securities from $47.00 to $61.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ price target points to a potential upside of 17.33% from the company’s current price.

Several other research firms have also recently weighed in on VERX. Baird R W upgraded Vertex to a “strong-buy” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group increased their price objective on Vertex from $42.00 to $59.00 and gave the company a “buy” rating in a report on Thursday. Robert W. Baird initiated coverage on Vertex in a research note on Tuesday, July 23rd. They issued an “outperform” rating and a $43.00 price objective on the stock. Needham & Company LLC raised their price target on shares of Vertex from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Jefferies Financial Group upgraded shares of Vertex from a “hold” rating to a “buy” rating and boosted their price target for the stock from $35.00 to $50.00 in a research report on Monday, November 4th. 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’s stock. According to data from MarketBeat.com, Vertex presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.27.

Vertex Stock Performance

Shares of Vertex stock opened at $51.99 on Thursday. The company’s 50 day moving average price is $40.15 and its two-hundred day moving average price is $36.60. The firm has a market capitalization of $8.09 billion, a P/E ratio of 288.83, 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 current ratio of 1.17 and a quick ratio of 1.17.

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

Insider Buying and Selling at Vertex

In other news, Director John Richard Stamm sold 16,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $35.95, for a total transaction of $575,200.00. Following the transaction, the director now owns 21,635 shares of the company’s stock, valued at $777,778.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO John R. Schwab sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $35.81, for a total transaction of $895,250.00. Following the completion of the sale, the chief financial officer now owns 53,104 shares in the company, valued at $1,901,654.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John Richard Stamm sold 16,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $35.95, for a total value of $575,200.00. Following the transaction, the director now directly owns 21,635 shares in the company, valued at $777,778.25. 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 ninety days, insiders sold 1,629,244 shares of company stock valued at $64,039,589. Corporate insiders own 44.58% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Vertex by 13.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,036 shares of the company’s stock worth $2,161,000 after acquiring an additional 8,309 shares in the last quarter. SG Americas Securities LLC bought a new stake in Vertex during the 1st quarter worth approximately $166,000. Oppenheimer Asset Management Inc. raised its stake in shares of Vertex by 1.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 51,624 shares of the company’s stock worth $1,640,000 after purchasing an additional 589 shares during the last quarter. TimesSquare Capital Management LLC raised its stake in shares of Vertex by 2.3% in the first quarter. TimesSquare Capital Management LLC now owns 1,386,848 shares of the company’s stock worth $44,046,000 after purchasing an additional 30,523 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Vertex by 5.4% in the first quarter. Swiss National Bank now owns 101,200 shares of the company’s stock valued at $3,214,000 after purchasing an additional 5,200 shares in the last quarter. 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.