Vertex, Inc. (NASDAQ:VERX) Receives $48.91 Consensus Target Price from Analysts

Shares of Vertex, Inc. (NASDAQ:VERX) have earned a consensus rating of “Moderate Buy” from the thirteen analysts that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $50.73.

Several research firms have weighed in on VERX. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price objective on shares of Vertex in a research report on Thursday, March 20th. The Goldman Sachs Group dropped their price target on Vertex from $64.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Raymond James restated a “market perform” rating on shares of Vertex in a research report on Friday, January 3rd. Stifel Nicolaus downgraded Vertex from a “buy” rating to a “hold” rating and dropped their target price for the company from $58.00 to $31.00 in a report on Friday, February 28th. Finally, Robert W. Baird decreased their price target on shares of Vertex from $62.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, February 28th.

Insider Buying and Selling

In other news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $35.98, for a total transaction of $1,555,343.44. Following the completion of the sale, the general counsel now owns 132 shares in the company, valued at approximately $4,749.36. This represents a 99.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 44.58% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of VERX. Westwind Capital boosted its position in shares of Vertex by 79.0% in the first quarter. Westwind Capital now owns 334,502 shares of the company’s stock valued at $11,711,000 after acquiring an additional 147,650 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Vertex by 3,751.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,087 shares of the company’s stock valued at $283,000 after purchasing an additional 7,877 shares during the period. Bessemer Group Inc. boosted its holdings in Vertex by 23.8% in the 1st quarter. Bessemer Group Inc. now owns 694,702 shares of the company’s stock valued at $24,323,000 after purchasing an additional 133,541 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in shares of Vertex by 13.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 18,388 shares of the company’s stock worth $644,000 after purchasing an additional 2,251 shares during the period. Finally, Norris Perne & French LLP MI acquired a new position in shares of Vertex during the first quarter valued at about $8,203,000. Institutional investors own 70.32% of the company’s stock.

Vertex Trading Down 0.4 %

Shares of NASDAQ VERX opened at $39.54 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. Vertex has a 12 month low of $28.04 and a 12 month high of $60.71. The company has a market cap of $6.25 billion, a price-to-earnings ratio of 219.67, a P/E/G ratio of 6.66 and a beta of 0.80. The business has a fifty day simple moving average of $37.06 and a 200-day simple moving average of $46.30.

Vertex (NASDAQ:VERX) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). The firm had revenue of $178.46 million for the quarter, compared to analysts’ expectations of $176.90 million. Vertex had a net margin of 4.73% and a return on equity of 24.92%. Sell-side analysts predict that Vertex will post 0.38 EPS for the current year.

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.