Vertex, Inc. (NASDAQ:VERX) has been given a consensus recommendation of “Hold” by the twelve research firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $30.45.
A number of equities analysts have recently commented on the stock. The Goldman Sachs Group lowered shares of Vertex from a “neutral” rating to a “sell” rating and cut their price target for the stock from $24.00 to $18.00 in a report on Thursday, June 3rd. Morgan Stanley lowered their price objective on Vertex from $18.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday, May 14th.
In other news, Director Eric C. Andersen sold 21,317 shares of the business’s stock in a transaction that occurred on Monday, June 7th. The stock was sold at an average price of $18.35, for a total value of $391,166.95. Following the transaction, the director now owns 88,494 shares in the company, valued at approximately $1,623,864.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Lisa Butler sold 84,000 shares of the stock in a transaction that occurred on Wednesday, June 9th. The shares were sold at an average price of $18.82, for a total value of $1,580,880.00. Following the sale, the chief accounting officer now directly owns 13,249 shares of the company’s stock, valued at $249,346.18. The disclosure for this sale can be found here. Corporate insiders own 67.26% of the company’s stock.
VERX traded down $0.07 during trading on Thursday, hitting $19.08. The stock had a trading volume of 2,258 shares, compared to its average volume of 167,888. The stock has a 50 day simple moving average of $19.59. Vertex has a one year low of $16.06 and a one year high of $39.71.
Vertex (NASDAQ:VERX) last issued its quarterly earnings results on Thursday, May 13th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. The business had revenue of $98.20 million during the quarter, compared to analysts’ expectations of $95.55 million. Vertex had a negative return on equity of 64.84% and a negative net margin of 12.40%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, sell-side analysts predict that Vertex will post 0.15 EPS for the current year.
Vertex, Inc provides tax technology solutions for corporations in retail, communication, leasing, and manufacturing industries in the United States and internationally. It offers tax determination, compliance and reporting, tax data management, document management, pre-built integration, and industry-specific solutions.
Further Reading: History of the Euro STOXX 50 Index
Receive News & Ratings for Vertex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex and related companies with MarketBeat.com's FREE daily email newsletter.