Vertex (NASDAQ:VERX) Price Target Lowered to $55.00 at DA Davidson

Vertex (NASDAQ:VERX) had its price target cut by DA Davidson from $62.00 to $55.00 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock. DA Davidson also issued estimates for Vertex’s FY2025 earnings at $0.42 EPS.

A number of other equities analysts have also commented on the stock. Morgan Stanley boosted their price objective on shares of Vertex from $50.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Needham & Company LLC upped their target price on shares of Vertex from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group upped their target price on shares of Vertex from $42.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. BMO Capital Markets upped their target price 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. Finally, JMP Securities restated a “market outperform” rating and issued a $61.00 target price on shares of Vertex in a research note on Monday, December 9th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $51.00.

Vertex Stock Down 6.5 %

Shares of NASDAQ VERX opened at $32.29 on Friday. The firm has a fifty day moving average of $52.52 and a 200-day moving average of $46.74. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. Vertex has a 52-week low of $27.22 and a 52-week high of $60.71. The stock has a market capitalization of $5.04 billion, a PE ratio of 179.39, a P/E/G ratio of 6.66 and a beta of 0.78.

Vertex (NASDAQ:VERX) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). Vertex had a return on equity of 24.92% and a net margin of 4.73%. The business had revenue of $178.46 million for the quarter, compared to analysts’ expectations of $176.90 million. On average, analysts anticipate that Vertex will post 0.38 EPS for the current year.

Insider Buying and Selling at Vertex

In other Vertex news, major shareholder Item Second Irr. Trust Fbo Kyl sold 13,346 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $55.13, for a total value of $735,764.98. Following the sale, the insider now owns 1,344,754 shares in the company, valued at approximately $74,136,288.02. This trade represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Destefano sold 216,268 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $55.04, for a total transaction of $11,903,390.72. Following the completion of the sale, the chief executive officer now owns 293,345 shares in the company, valued at $16,145,708.80. The trade was a 42.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 858,457 shares of company stock worth $46,160,958. 44.58% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vertex

Several large investors have recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Vertex in the fourth quarter valued at approximately $6,018,000. Jefferies Financial Group Inc. acquired a new position in shares of Vertex during the fourth quarter valued at approximately $1,909,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Vertex by 18.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,521 shares of the company’s stock valued at $8,831,000 after acquiring an additional 25,991 shares during the period. Voloridge Investment Management LLC acquired a new position in shares of Vertex during the fourth quarter valued at approximately $1,117,000. Finally, Tidal Investments LLC acquired a new position in shares of Vertex during the fourth quarter valued at approximately $8,376,000. Institutional investors and hedge funds own 70.32% 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.