Vertex, Inc. (NASDAQ:VERX) Receives $49.82 Consensus Target Price from Analysts

Shares of Vertex, Inc. (NASDAQ:VERX - Get Free Report) have received a consensus rating of "Moderate Buy" from the thirteen research firms that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $49.82.

Several equities analysts have recently weighed in on VERX shares. Citigroup upped their price objective on shares of Vertex from $46.00 to $54.00 and gave the company a "neutral" rating in a report on Monday, December 16th. Robert W. Baird dropped their price target on Vertex from $62.00 to $45.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. Jefferies Financial Group reduced their price objective on Vertex from $62.00 to $48.00 and set a "buy" rating for the company in a research note on Friday, February 28th. The Goldman Sachs Group lowered their target price on Vertex from $64.00 to $48.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Finally, Needham & Company LLC reissued a "buy" rating and issued a $60.00 price target on shares of Vertex in a research report on Thursday, March 20th.

Insider Transactions at Vertex

In other Vertex news, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of Vertex stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $56.48, for a total value of $3,041,052.64. Following the sale, the insider now owns 1,229,257 shares of the company's stock, valued at approximately $69,428,435.36. The trade was a 4.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Bryan T.R. Rowland sold 43,228 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $35.98, for a total value of $1,555,343.44. Following the transaction, the general counsel now directly owns 132 shares of the company's stock, valued at approximately $4,749.36. This trade represents a 99.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 44.58% of the company's stock.

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Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC purchased a new stake in Vertex during the fourth quarter valued at about $38,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Vertex during the 4th quarter valued at approximately $40,000. Plato Investment Management Ltd purchased a new stake in shares of Vertex during the 4th quarter valued at approximately $41,000. Armstrong Advisory Group Inc. bought a new position in Vertex in the 4th quarter worth approximately $50,000. Finally, Advisors Asset Management Inc. grew its stake in Vertex by 126.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 968 shares of the company's stock valued at $37,000 after buying an additional 540 shares in the last quarter. Institutional investors own 70.32% of the company's stock.

Vertex Trading Down 0.9 %

Shares of VERX stock traded down $0.31 during mid-day trading on Wednesday, hitting $35.55. The company's stock had a trading volume of 1,226,964 shares, compared to its average volume of 987,945. The company has a market cap of $5.62 billion, a PE ratio of 197.50, a P/E/G ratio of 6.66 and a beta of 0.87. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04. The company's fifty day simple moving average is $44.43 and its 200-day simple moving average is $46.44. Vertex has a 52 week low of $27.22 and a 52 week high of $60.71.

Vertex (NASDAQ:VERX - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.03). The business had revenue of $178.46 million during the quarter, compared to analyst estimates of $176.90 million. Vertex had a net margin of 4.73% and a return on equity of 24.92%. As a group, equities research analysts expect that Vertex will post 0.38 earnings per share for the current fiscal 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.