Brokerages Set Vertex, Inc. (NASDAQ:VERX) Target Price at $49.82

Shares of Vertex, Inc. (NASDAQ:VERX) have received a consensus rating of “Moderate Buy” from the thirteen brokerages that are presently covering the company, Marketbeat.com reports. Five equities research 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 twelve-month target price among brokerages that have covered the stock in the last year is $49.82.

A number of research firms have issued reports on VERX. Morgan Stanley lifted their target price on shares of Vertex from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Robert W. Baird decreased their price objective on shares of Vertex from $62.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, February 28th. Needham & Company LLC reissued a “buy” rating and set a $60.00 target price on shares of Vertex in a research report on Thursday, March 20th. The Goldman Sachs Group reduced their price target on Vertex from $64.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Finally, Jefferies Financial Group lowered their price objective on Vertex from $62.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, February 28th.

Vertex Trading Up 3.1 %

Shares of NASDAQ:VERX opened at $36.08 on Wednesday. Vertex has a 12-month low of $27.22 and a 12-month high of $60.71. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $5.71 billion, a P/E ratio of 200.44, a price-to-earnings-growth ratio of 6.66 and a beta of 0.87. The firm has a fifty day moving average of $43.58 and a two-hundred day moving average of $46.51.

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

Insider Activity at Vertex

In other news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $35.98, for a total transaction of $1,555,343.44. Following the sale, the general counsel now directly owns 132 shares in the company, valued at approximately $4,749.36. The trade was a 99.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $56.48, for a total value of $3,041,052.64. Following the completion of the transaction, the insider now owns 1,229,257 shares of the company’s stock, valued at $69,428,435.36. The trade was a 4.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 44.58% of the company’s stock.

Hedge Funds Weigh In On Vertex

Hedge funds have recently made changes to their positions in the business. Fairman Group LLC acquired a new stake in shares of Vertex during the 4th quarter valued at about $327,000. Empowered Funds LLC acquired a new stake in Vertex during the fourth quarter valued at approximately $3,363,000. Victory Capital Management Inc. grew its stake in shares of Vertex by 406.9% in the 3rd quarter. Victory Capital Management Inc. now owns 34,386 shares of the company’s stock valued at $1,324,000 after purchasing an additional 27,602 shares during the period. DRW Securities LLC acquired a new position in shares of Vertex in the 3rd quarter worth approximately $840,000. Finally, Triasima Portfolio Management inc. bought a new position in shares of Vertex during the 4th quarter worth approximately $3,135,000. 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.