Vertex, Inc. (NASDAQ:VERX) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of Vertex, Inc. (NASDAQ:VERX - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the twelve analysts that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $37.30.

A number of brokerages have recently issued reports on VERX. Robert W. Baird began coverage on shares of Vertex in a report on Tuesday, July 23rd. They set an "outperform" rating and a $43.00 price target for the company. JMP Securities raised their price target on shares of Vertex from $42.00 to $47.00 and gave the stock a "market outperform" rating in a report on Wednesday, July 31st. Finally, Baird R W raised shares of Vertex to a "strong-buy" rating in a research report on Tuesday, July 23rd.

Vertex Price Performance

VERX stock traded up $0.05 during mid-day trading on Friday, reaching $42.07. The company's stock had a trading volume of 348,739 shares, compared to its average volume of 766,524. The stock has a market cap of $6.53 billion, a PE ratio of 1,051.75, a P/E/G ratio of 12.04 and a beta of 0.68. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.43. Vertex has a fifty-two week low of $21.92 and a fifty-two week high of $43.33. The company's 50 day moving average is $38.54 and its two-hundred day moving average is $35.64.

Vertex (NASDAQ:VERX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.02. The business had revenue of $161.10 million during the quarter, compared to the consensus estimate of $160.66 million. Vertex had a net margin of 3.20% and a return on equity of 22.32%. The business's revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.04 EPS. Equities research analysts expect that Vertex will post 0.34 EPS for the current year.

Insider Buying and Selling at Vertex

In other Vertex news, Director John Richard Stamm sold 16,000 shares of the firm's stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $35.95, for a total value of $575,200.00. Following the completion of the transaction, the director now owns 21,635 shares of the company's stock, valued at $777,778.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Vertex news, CFO John R. Schwab sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $35.81, for a total value of $895,250.00. Following the completion of the transaction, the chief financial officer now owns 53,104 shares of the company's stock, valued at $1,901,654.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John Richard Stamm sold 16,000 shares of the firm's stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $35.95, for a total transaction of $575,200.00. Following the completion of the sale, the director now owns 21,635 shares in the company, valued at $777,778.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,629,244 shares of company stock valued at $64,039,589 in the last 90 days. Company insiders own 45.00% of the company's stock.

Institutional Investors Weigh In On Vertex

Hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. acquired a new stake in shares of Vertex in the 2nd quarter valued at $28,000. Quest Partners LLC acquired a new stake in Vertex during the 2nd quarter worth $37,000. Canada Pension Plan Investment Board acquired a new stake in Vertex during the 2nd quarter worth $40,000. Amalgamated Bank acquired a new stake in Vertex during the 2nd quarter worth $68,000. Finally, Sandia Investment Management LP acquired a new stake in Vertex during the 1st quarter worth $159,000. 59.10% of the stock is currently owned by institutional investors and hedge funds.

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.