Vertex (VERX) to Release Quarterly Earnings on Wednesday

Vertex (NASDAQ:VERX - Get Free Report) is scheduled to issue its quarterly earnings data before the market opens on Wednesday, November 6th. Analysts expect the company to announce earnings of $0.14 per share for the quarter. Vertex has set its FY 2024 guidance at EPS and its Q3 2024 guidance at EPS.Investors that are interested in registering for the company's conference call can do so using this link.

Vertex (NASDAQ:VERX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.02. Vertex had a net margin of 3.20% and a return on equity of 22.32%. The firm had revenue of $161.10 million for the quarter, compared to analysts' expectations of $160.66 million. During the same period in the previous year, the company posted $0.04 earnings per share. Vertex's revenue was up 15.3% compared to the same quarter last year. On average, analysts expect Vertex to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Vertex Stock Up 0.6 %

Shares of NASDAQ VERX traded up $0.26 during midday trading on Wednesday, reaching $43.06. 222,954 shares of the company's stock were exchanged, compared to its average volume of 760,800. Vertex has a 52-week low of $21.92 and a 52-week high of $43.33. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market capitalization of $6.70 billion, a PE ratio of 358.58, a price-to-earnings-growth ratio of 12.02 and a beta of 0.68. The business's fifty day moving average price is $38.81 and its two-hundred day moving average price is $35.79.

Analyst Ratings Changes

A number of equities analysts recently issued reports on VERX shares. JMP Securities increased their price objective on Vertex from $42.00 to $47.00 and gave the stock a "market outperform" rating in a report on Wednesday, July 31st. Baird R W upgraded shares of Vertex to a "strong-buy" rating in a research report on Tuesday, July 23rd. Finally, Robert W. Baird assumed coverage on shares of Vertex in a report on Tuesday, July 23rd. They set an "outperform" rating and a $43.00 price target on the stock. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $37.30.

Insiders Place Their Bets

In related news, insider Item Second Irr. Trust Fbo Jac sold 56,419 shares of the firm's stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $40.77, for a total transaction of $2,300,202.63. Following the transaction, the insider now directly owns 932,706 shares of the company's stock, valued at approximately $38,026,423.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Vertex news, major shareholder Jeffrey Westphal sold 1,225,000 shares of the business's stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $39.42, for a total transaction of $48,289,500.00. Following the completion of the sale, the insider now owns 7,895 shares of the company's stock, valued at approximately $311,220.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Item Second Irr. Trust Fbo Jac sold 56,419 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $40.77, for a total transaction of $2,300,202.63. Following the sale, the insider now owns 932,706 shares in the company, valued at approximately $38,026,423.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,629,244 shares of company stock valued at $64,039,589 over the last ninety days. 44.58% of the stock is currently owned by insiders.

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.