Vertex, Inc. (NASDAQ:VERX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Vertex, Inc. (NASDAQ:VERX) have been given a consensus rating of “Moderate Buy” by the ten research firms that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $35.67.

A number of analysts recently issued reports on the company. JMP Securities reissued a “market outperform” rating and set a $42.00 target price on shares of Vertex in a research note on Tuesday, April 23rd. Bank of America dropped their price objective on shares of Vertex from $40.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, April 23rd. Citigroup reduced their target price on shares of Vertex from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, April 23rd. Jefferies Financial Group increased their target price on Vertex from $27.00 to $35.00 and gave the stock a “hold” rating in a report on Friday, March 1st. Finally, BMO Capital Markets boosted their price target on Vertex from $30.00 to $35.00 and gave the company a “market perform” rating in a report on Friday, March 1st.

Insider Buying and Selling

In other Vertex news, major shareholder Jeffrey Westphal sold 791,133 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $30.05, for a total value of $23,773,546.65. Following the completion of the transaction, the insider now directly owns 1,554,641 shares in the company, valued at $46,716,962.05. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Vertex news, insider Item Second Irr. Trust Fbo Ann sold 26,609 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $33.62, for a total transaction of $894,594.58. Following the transaction, the insider now owns 1,338,465 shares of the company’s stock, valued at $44,999,193.30. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Jeffrey Westphal sold 791,133 shares of Vertex stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $30.05, for a total value of $23,773,546.65. Following the transaction, the insider now owns 1,554,641 shares of the company’s stock, valued at $46,716,962.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,161,048 shares of company stock worth $35,034,678. Corporate insiders own 45.00% of the company’s stock.

Hedge Funds Weigh In On Vertex

Several institutional investors and hedge funds have recently modified their holdings of VERX. Allspring Global Investments Holdings LLC acquired a new stake in Vertex during the third quarter worth approximately $49,000. RiverPark Advisors LLC acquired a new position in Vertex during the third quarter valued at approximately $60,000. Tower Research Capital LLC TRC acquired a new stake in shares of Vertex in the 4th quarter valued at $72,000. SG Americas Securities LLC bought a new position in shares of Vertex in the 1st quarter valued at $166,000. Finally, F M Investments LLC bought a new stake in shares of Vertex during the 1st quarter worth $209,000. 59.10% of the stock is currently owned by institutional investors and hedge funds.

Vertex Trading Up 2.0 %

VERX opened at $30.53 on Friday. The firm’s fifty day moving average is $30.29 and its two-hundred day moving average is $27.43. The firm has a market cap of $4.71 billion, a PE ratio of -305.30, a price-to-earnings-growth ratio of 7.54 and a beta of 0.65. Vertex has a twelve month low of $17.59 and a twelve month high of $35.38. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.60 and a current ratio of 0.60.

Vertex (NASDAQ:VERX) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. Vertex had a positive return on equity of 16.15% and a negative net margin of 2.29%. The business had revenue of $154.91 million for the quarter, compared to the consensus estimate of $146.44 million. Equities research analysts anticipate that Vertex will post 0.36 EPS 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.