What is DA Davidson's Estimate for Vertex FY2024 Earnings?

Vertex, Inc. (NASDAQ:VERX - Free Report) - Research analysts at DA Davidson issued their FY2024 earnings estimates for Vertex in a report released on Tuesday, December 31st. DA Davidson analyst W. Jellison forecasts that the company will post earnings per share of $0.38 for the year. DA Davidson currently has a "Buy" rating and a $62.00 price target on the stock. The consensus estimate for Vertex's current full-year earnings is $0.38 per share. DA Davidson also issued estimates for Vertex's Q4 2024 earnings at $0.09 EPS and FY2025 earnings at $0.49 EPS.

Vertex (NASDAQ:VERX - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The firm had revenue of $170.40 million for the quarter, compared to analyst estimates of $165.70 million. During the same quarter last year, the firm posted $0.06 earnings per share. Vertex's revenue for the quarter was up 17.5% compared to the same quarter last year.

Other research analysts have also issued reports about the company. Robert W. Baird raised their price objective on Vertex from $43.00 to $57.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. JMP Securities reissued a "market outperform" rating and set a $61.00 price target on shares of Vertex in a research report on Monday, December 9th. BMO Capital Markets upped their price target on Vertex from $42.00 to $52.00 and gave the stock a "market perform" rating in a report on Thursday, November 7th. Citigroup lifted their price objective on shares of Vertex from $46.00 to $54.00 and gave the company a "neutral" rating in a research note on Monday, December 16th. Finally, Morgan Stanley upped their target price on shares of Vertex from $50.00 to $62.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $55.36.

Vertex Stock Down 3.5 %

Shares of NASDAQ:VERX traded down $1.88 during midday trading on Friday, hitting $51.32. 1,078,320 shares of the company's stock traded hands, compared to its average volume of 954,410. The firm's fifty day moving average price is $51.64 and its two-hundred day moving average price is $42.49. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04. Vertex has a twelve month low of $23.31 and a twelve month high of $57.74. The company has a market cap of $8.00 billion, a PE ratio of 285.11, a P/E/G ratio of 9.83 and a beta of 0.77.

Insiders Place Their Bets

In related news, General Counsel Bryan T.R. Rowland sold 3,020 shares of the business's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $55.08, for a total transaction of $166,341.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 13,346 shares of the firm's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $55.13, for a total transaction of $735,764.98. Following the completion of the transaction, the insider now directly owns 1,344,754 shares in the company, valued at $74,136,288.02. This represents a 0.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,782,563 shares of company stock valued at $187,627,746 in the last quarter. Insiders own 44.58% of the company's stock.

Hedge Funds Weigh In On Vertex

Several institutional investors have recently made changes to their positions in VERX. Driehaus Capital Management LLC acquired a new position in Vertex during the 2nd quarter valued at approximately $22,173,000. Brown Capital Management LLC acquired a new position in shares of Vertex during the third quarter valued at $20,938,000. Premier Fund Managers Ltd grew its position in shares of Vertex by 787.0% during the third quarter. Premier Fund Managers Ltd now owns 524,775 shares of the company's stock worth $19,280,000 after acquiring an additional 465,610 shares during the last quarter. Geneva Capital Management LLC grew its position in shares of Vertex by 40.1% during the third quarter. Geneva Capital Management LLC now owns 1,450,599 shares of the company's stock worth $55,863,000 after acquiring an additional 414,945 shares during the last quarter. Finally, State Street Corp lifted its position in Vertex by 36.4% in the 3rd quarter. State Street Corp now owns 1,361,901 shares of the company's stock valued at $52,447,000 after purchasing an additional 363,595 shares during the last quarter. 70.32% of the stock is owned by institutional investors.

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.