Vertex, Inc. (NASDAQ:VERX) Receives $52.30 Consensus PT from Analysts

Shares of Vertex, Inc. (NASDAQ:VERX - Get Free Report) have been assigned an average rating of "Moderate Buy" from the eleven research firms that are currently covering the company, Marketbeat Ratings reports. Three 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 twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $54.10.

Several equities research analysts have recently issued reports on VERX shares. JMP Securities reiterated a "market outperform" rating and set a $61.00 price target on shares of Vertex in a report on Monday, December 9th. Robert W. Baird lifted their target price on shares of Vertex from $43.00 to $57.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their target price on shares of Vertex from $42.00 to $59.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Citigroup raised their price target on shares of Vertex from $46.00 to $54.00 and gave the company a "neutral" rating in a report on Monday. Finally, Jefferies Financial Group raised shares of Vertex from a "hold" rating to a "buy" rating and lifted their price objective for the company from $35.00 to $50.00 in a research note on Monday, November 4th.

Insider Activity

In other Vertex news, CEO David Destefano sold 159,107 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $49.61, for a total value of $7,893,298.27. Following the completion of the sale, the chief executive officer now directly owns 332,290 shares of the company's stock, valued at $16,484,906.90. This represents a 32.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Bryan T.R. Rowland sold 3,020 shares of the business's stock in a transaction dated 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. Over the last ninety days, insiders have sold 5,007,563 shares of company stock valued at $235,917,246. 44.58% of the stock is owned by insiders.

Institutional Investors Weigh In On Vertex

Hedge funds have recently made changes to their positions in the stock. Cetera Advisors LLC acquired a new position in Vertex in the 1st quarter valued at approximately $239,000. Blue Trust Inc. acquired a new position in shares of Vertex in the second quarter valued at $28,000. Banque Pictet & Cie SA lifted its position in Vertex by 551.9% in the second quarter. Banque Pictet & Cie SA now owns 949,540 shares of the company's stock worth $34,231,000 after purchasing an additional 803,881 shares during the period. Bank Pictet & Cie Europe AG acquired a new stake in Vertex during the second quarter worth $1,334,000. Finally, Bank of New York Mellon Corp increased its holdings in Vertex by 545.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 220,906 shares of the company's stock valued at $7,964,000 after buying an additional 186,676 shares during the period. Institutional investors own 70.32% of the company's stock.

Vertex Stock Up 1.7 %

VERX traded up $0.91 on Monday, reaching $53.30. 1,266,093 shares of the company traded hands, compared to its average volume of 789,672. The stock's 50 day moving average price is $48.42 and its 200-day moving average price is $40.74. The company has a market cap of $8.31 billion, a price-to-earnings ratio of 296.11, a PEG ratio of 9.83 and a beta of 0.77. Vertex has a 52-week low of $23.31 and a 52-week high of $57.74. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04.

Vertex (NASDAQ:VERX - Get Free Report) last announced its quarterly earnings data 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. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The business had revenue of $170.40 million during the quarter, compared to analyst estimates of $165.70 million. During the same period last year, the company earned $0.06 earnings per share. Vertex's quarterly revenue was up 17.5% compared to the same quarter last year. On average, sell-side 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.