Vertex, Inc. (NASDAQ:VERX) Receives Consensus Recommendation of “Hold” from Brokerages

Vertex, Inc. (NASDAQ:VERX) has been given a consensus recommendation of “Hold” by the fifteen brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $17.43.

VERX has been the subject of several research analyst reports. Stephens cut their price objective on Vertex from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, August 4th. TD Cowen began coverage on shares of Vertex in a research report on Monday, June 29th. They set a “buy” rating and a $14.00 target price on the stock. BMO Capital Markets increased their target price on shares of Vertex from $14.00 to $15.00 and gave the company a “market perform” rating in a report on Tuesday, August 4th. Morgan Stanley reiterated an “equal weight” rating and set a $15.00 price target (down from $19.00) on shares of Vertex in a research report on Tuesday, July 21st. Finally, Weiss Ratings raised shares of Vertex from a “sell (e+)” rating to a “sell (d)” rating in a research note on Wednesday, August 5th.

Hedge Funds Weigh In On Vertex

Institutional investors have recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Vertex in the 1st quarter worth approximately $37,796,000. Hyperion Capital Advisors LP boosted its holdings in shares of Vertex by 20.4% during the fourth quarter. Hyperion Capital Advisors LP now owns 650,000 shares of the company’s stock worth $12,980,000 after purchasing an additional 110,000 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Vertex by 1,906.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 935,668 shares of the company’s stock valued at $11,125,000 after purchasing an additional 889,042 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new position in Vertex during the first quarter worth about $4,836,000. Finally, Renaissance Technologies LLC boosted its stake in Vertex by 8.1% in the 1st quarter. Renaissance Technologies LLC now owns 290,500 shares of the company’s stock worth $3,454,000 after buying an additional 21,700 shares during the last quarter. Institutional investors and hedge funds own 70.32% of the company’s stock.

Vertex Price Performance

Vertex stock opened at $12.01 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.87 and a quick ratio of 0.87. The business has a 50 day simple moving average of $12.72 and a 200-day simple moving average of $12.55. Vertex has a 12 month low of $10.21 and a 12 month high of $26.54. The stock has a market capitalization of $1.95 billion, a PE ratio of 600.80 and a beta of 0.83.

Vertex (NASDAQ:VERX) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. Vertex had a net margin of 0.45% and a return on equity of 29.00%. The firm had revenue of $203.97 million for the quarter, compared to analyst estimates of $202.21 million. During the same period last year, the firm posted $0.15 EPS. Vertex’s quarterly revenue was up 10.5% on a year-over-year basis. Equities analysts predict that Vertex will post 0.54 earnings per share for the current year.

Vertex Company Profile

Vertex, Inc (NASDAQ:VERX) is a provider of tax technology solutions designed to help businesses manage transaction tax compliance. Its software supports the calculation, collection, reporting and remittance of taxes such as sales and use tax, value-added tax, goods and services tax, and communications tax.

The company offers cloud-based and enterprise tax solutions that integrate with accounting, enterprise resource planning, e-commerce and other business systems. Its products are designed to automate tax determination, tax returns and compliance workflows, manage tax data and support tax content across complex business operations.

Founded in 1978, Vertex is headquartered in King of Prussia, Pennsylvania, and serves organizations in the United States and international markets.