Several brokerages have updated their recommendations and price targets on shares of Vertex (NASDAQ: VERX) in the last few weeks:
- 5/6/2024 – Vertex had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $45.00 price target on the stock.
- 4/23/2024 – Vertex had its price target lowered by analysts at Citigroup Inc. from $34.00 to $32.00. They now have a “neutral” rating on the stock.
- 4/23/2024 – Vertex had its price target lowered by analysts at Bank of America Co. from $40.00 to $34.00. They now have a “neutral” rating on the stock.
- 4/23/2024 – Vertex had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $42.00 price target on the stock.
Vertex Stock Up 2.0 %
VERX opened at $30.53 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market capitalization of $4.71 billion, a PE ratio of -305.30, a P/E/G ratio of 7.54 and a beta of 0.65. The stock’s fifty day moving average is $30.29 and its 200-day moving average is $27.43. Vertex, Inc. has a one year low of $17.59 and a one year high of $35.38.
Vertex (NASDAQ:VERX – Get Free Report) 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 company had revenue of $154.91 million during the quarter, compared to the consensus estimate of $146.44 million. Vertex had a positive return on equity of 16.15% and a negative net margin of 2.29%. On average, equities analysts predict that Vertex, Inc. will post 0.36 EPS for the current fiscal year.
Insider Transactions at Vertex
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in VERX. Raymond James & Associates bought a new stake in shares of Vertex in the 3rd quarter worth about $224,000. Bank of New York Mellon Corp increased its holdings in shares of Vertex by 2.0% during the third quarter. Bank of New York Mellon Corp now owns 34,526 shares of the company’s stock worth $798,000 after buying an additional 673 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Vertex in the 3rd quarter worth approximately $49,000. Kornitzer Capital Management Inc. KS bought a new stake in Vertex during the 3rd quarter worth approximately $863,000. Finally, Principal Financial Group Inc. increased its holdings in Vertex by 131.1% during the 3rd quarter. Principal Financial Group Inc. now owns 88,567 shares of the company’s stock valued at $2,046,000 after purchasing an additional 50,239 shares in the last quarter. Institutional investors and hedge funds own 59.10% of the company’s stock.
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.
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