Vertex (NASDAQ:VERX) PT Lowered to $34.00

Vertex (NASDAQ:VERX) had its price objective cut by stock analysts at Bank of America from $40.00 to $34.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s target price would indicate a potential upside of 13.18% from the stock’s current price.

Several other equities analysts have also weighed in on VERX. Citigroup cut their price objective on shares of Vertex from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, January 12th. Needham & Company LLC boosted their target price on Vertex from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. BMO Capital Markets increased their price target on shares of Vertex from $30.00 to $35.00 and gave the company a “market perform” rating in a research report on Friday, March 1st. JMP Securities upped their target price on shares of Vertex from $31.00 to $42.00 and gave the company a “market outperform” rating in a research note on Friday, March 1st. Finally, Jefferies Financial Group boosted their price target on shares of Vertex from $27.00 to $35.00 and gave the company a “hold” rating in a report on Friday, March 1st. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Vertex currently has a consensus rating of “Moderate Buy” and an average target price of $35.11.

Vertex Trading Up 5.0 %

VERX opened at $30.04 on Tuesday. Vertex has a 1-year low of $17.59 and a 1-year high of $35.38. The stock has a market capitalization of $4.64 billion, a PE ratio of -300.40, a PEG ratio of 7.37 and a beta of 0.62. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average price of $29.36 and a two-hundred day moving average price of $26.95.

Vertex (NASDAQ:VERX) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. The firm had revenue of $154.91 million for the quarter, compared to analyst estimates of $146.44 million. Vertex had a positive return on equity of 16.15% and a negative net margin of 2.29%. As a group, equities analysts anticipate that Vertex will post 0.36 earnings per share for the current fiscal year.

Insider Activity at Vertex

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 approximately $44,999,193.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director John Richard Stamm sold 6,500 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.48, for a total value of $191,620.00. Following the sale, the director now directly owns 15,930 shares of the company’s stock, valued at approximately $469,616.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Item Second Irr. Trust Fbo Ann sold 26,609 shares of Vertex stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $33.62, for a total value of $894,594.58. Following the transaction, the insider now owns 1,338,465 shares of the company’s stock, valued at approximately $44,999,193.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,161,048 shares of company stock valued at $35,034,678. Insiders own 45.00% of the company’s stock.

Institutional Trading of Vertex

A number of hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Vertex during the 3rd quarter worth about $49,000. RiverPark Advisors LLC bought a new stake in shares of Vertex during the third quarter worth approximately $60,000. Arcadia Investment Management Corp MI grew its position in shares of Vertex by 22.4% in the third quarter. Arcadia Investment Management Corp MI now owns 2,664 shares of the company’s stock valued at $62,000 after purchasing an additional 488 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in Vertex in the 4th quarter valued at $72,000. Finally, Raymond James & Associates acquired a new position in Vertex in the 3rd quarter valued at $224,000. 59.10% of the stock is owned by institutional investors and hedge funds.

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.