Vertex, Inc. (NASDAQ:VERX) Receives $37.30 Average Target Price from Analysts

Vertex, Inc. (NASDAQ:VERX) has been assigned a consensus rating of “Moderate Buy” from the twelve analysts that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $37.30.

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $45.00 price objective on shares of Vertex in a research report on Thursday, June 13th. Citigroup boosted their price target on Vertex from $32.00 to $36.00 and gave the company a “neutral” rating in a report on Friday, June 28th. JMP Securities raised their price objective on Vertex from $42.00 to $47.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 31st. Baird R W upgraded Vertex to a “strong-buy” rating in a research note on Tuesday, July 23rd. Finally, Robert W. Baird assumed coverage on shares of Vertex in a report on Tuesday, July 23rd. They set an “outperform” rating and a $43.00 price target on the stock.

Insider Activity at Vertex

In related news, major shareholder Jeffrey Westphal sold 1,500,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $37.81, for a total transaction of $56,715,000.00. Following the completion of the sale, the insider now directly owns 1,054,641 shares in the company, valued at approximately $39,875,976.21. The trade was a 0.00 % 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 the SEC website. 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 value of $575,200.00. Following the completion of the sale, the director now directly owns 21,635 shares in the company, valued at $777,778.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Jeffrey Westphal sold 1,500,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $37.81, for a total transaction of $56,715,000.00. Following the completion of the transaction, the insider now directly owns 1,054,641 shares in the company, valued at approximately $39,875,976.21. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,924,900 shares of company stock worth $112,397,153 in the last 90 days. Corporate insiders own 45.00% of the company’s stock.

Institutional Trading of Vertex

Hedge funds have recently bought and sold shares of the business. Quadrature Capital Ltd lifted its stake in Vertex by 175.0% during the fourth quarter. Quadrature Capital Ltd now owns 73,909 shares of the company’s stock worth $1,992,000 after purchasing an additional 47,031 shares in the last quarter. Granahan Investment Management LLC boosted its position in shares of Vertex by 49.4% during the 4th quarter. Granahan Investment Management LLC now owns 663,606 shares of the company’s stock worth $17,878,000 after acquiring an additional 219,301 shares in the last quarter. Bullseye Asset Management LLC increased its holdings in shares of Vertex by 12.5% in the 4th quarter. Bullseye Asset Management LLC now owns 45,071 shares of the company’s stock valued at $1,214,000 after acquiring an additional 5,000 shares during the last quarter. Vanguard Group Inc. increased its stake in Vertex by 13.0% in the fourth quarter. Vanguard Group Inc. now owns 5,555,808 shares of the company’s stock valued at $149,673,000 after purchasing an additional 637,075 shares during the last quarter. Finally, Moody National Bank Trust Division raised its holdings in Vertex by 34.7% during the first quarter. Moody National Bank Trust Division now owns 25,369 shares of the company’s stock worth $806,000 after purchasing an additional 6,529 shares in the last quarter. Institutional investors and hedge funds own 59.10% of the company’s stock.

Vertex Trading Up 0.5 %

Shares of NASDAQ:VERX opened at $41.21 on Wednesday. The stock’s fifty day moving average price is $37.17 and its 200-day moving average price is $34.71. Vertex has a 1 year low of $21.92 and a 1 year high of $42.38. The company has a market cap of $6.41 billion, a P/E ratio of 1,030.25, a PEG ratio of 11.57 and a beta of 0.68. 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 issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.02. The firm had revenue of $161.10 million for the quarter, compared to analysts’ expectations of $160.66 million. Vertex had a net margin of 3.20% and a return on equity of 22.32%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.04 EPS. Sell-side analysts expect that Vertex will post 0.34 earnings per share for the current year.

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.