Vertex, Inc. (NASDAQ:VERX) Receives $55.36 Average PT from Brokerages

Vertex, Inc. (NASDAQ:VERX - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the thirteen analysts that are covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $55.36.

A number of equities research analysts have issued reports on the company. Robert W. Baird raised their target price on Vertex from $43.00 to $57.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Morgan Stanley boosted 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. JMP Securities restated a "market outperform" rating and issued a $61.00 price target on shares of Vertex in a research note on Monday, December 9th. Citigroup boosted their price objective on Vertex from $46.00 to $54.00 and gave the stock a "neutral" rating in a research report on Monday, December 16th. Finally, The Goldman Sachs Group raised their target price on Vertex from $42.00 to $59.00 and gave the company a "buy" rating in a research report on Thursday, November 7th.

Insider Activity

In other Vertex news, Director John Richard Stamm sold 2,500 shares of the company's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $53.81, for a total value of $134,525.00. Following the completion of the sale, the director now directly owns 15,535 shares of the company's stock, valued at approximately $835,938.35. This represents a 13.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Bryan T.R. Rowland sold 3,020 shares of Vertex stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $55.08, for a total transaction of $166,341.60. The disclosure for this sale can be found here. Insiders sold a total of 3,605,417 shares of company stock worth $180,941,809 over the last 90 days. 44.58% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its holdings in shares of Vertex by 269.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,378 shares of the company's stock worth $1,239,000 after acquiring an additional 25,072 shares during the last quarter. SG Americas Securities LLC purchased a new position in Vertex in the 3rd quarter worth about $444,000. Handelsbanken Fonder AB increased its stake in Vertex by 37.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 11,700 shares of the company's stock worth $451,000 after purchasing an additional 3,200 shares in the last quarter. Westwind Capital acquired a new stake in Vertex during the 3rd quarter worth about $7,180,000. Finally, nVerses Capital LLC purchased a new stake in Vertex during the third quarter valued at about $208,000. Institutional investors own 70.32% of the company's stock.

Vertex Stock Performance

Shares of Vertex stock traded down $1.11 during trading hours on Tuesday, reaching $56.80. The company's stock had a trading volume of 455,832 shares, compared to its average volume of 788,029. 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 one year low of $24.17 and a one year high of $60.71. The company's 50 day simple moving average is $54.89 and its 200 day simple moving average is $45.79. The stock has a market cap of $8.86 billion, a P/E ratio of 315.56, a price-to-earnings-growth ratio of 8.46 and a beta of 0.78.

Vertex (NASDAQ:VERX - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. The business had revenue of $170.40 million for the quarter, compared to the consensus estimate of $165.70 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The business's revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the business posted $0.06 EPS. As a group, analysts expect that Vertex will post 0.38 EPS 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.