Vertex (NASDAQ:VERX) Price Target Raised to $52.00

Vertex (NASDAQ:VERX - Get Free Report) had its price target increased by investment analysts at BMO Capital Markets from $42.00 to $52.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "market perform" rating on the stock. BMO Capital Markets' price target indicates a potential upside of 1.31% from the company's previous close.

Several other brokerages have also weighed in on VERX. Jefferies Financial Group raised shares of Vertex from a "hold" rating to a "buy" rating and increased their target price for the stock from $35.00 to $50.00 in a research note on Monday. Robert W. Baird began coverage on shares of Vertex in a research note on Tuesday, July 23rd. They set an "outperform" rating and a $43.00 target price on the stock. Baird R W upgraded shares of Vertex to a "strong-buy" rating in a report on Tuesday, July 23rd. Needham & Company LLC boosted their price target on shares of Vertex from $45.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, JMP Securities increased their price objective on Vertex from $47.00 to $61.00 and gave the company a "market outperform" rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $47.27.

Vertex Trading Up 3.2 %

VERX traded up $1.57 during trading hours on Thursday, reaching $51.33. The company's stock had a trading volume of 1,943,342 shares, compared to its average volume of 770,598. The stock has a market cap of $7.98 billion, a PE ratio of 427.75, a P/E/G ratio of 12.07 and a beta of 0.67. Vertex has a fifty-two week low of $22.31 and a fifty-two week high of $51.95. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.17 and a quick ratio of 1.17. The business's 50-day moving average is $39.88 and its 200-day moving average is $36.45.

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

Insiders Place Their Bets

In other news, insider Item Second Irr. Trust Fbo Jac sold 52,713 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $41.02, for a total value of $2,162,287.26. Following the transaction, the insider now owns 1,144,993 shares in the company, valued at approximately $46,967,612.86. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Item Second Irr. Trust Fbo Jac sold 52,713 shares of the company's stock in a transaction on Monday, October 7th. The shares were sold at an average price of $41.02, for a total value of $2,162,287.26. Following the completion of the transaction, the insider now owns 1,144,993 shares in the company, valued at approximately $46,967,612.86. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Jeffrey Westphal sold 1,225,000 shares of the stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $39.42, for a total transaction of $48,289,500.00. Following the completion of the transaction, the insider now directly owns 7,895 shares in the company, valued at $311,220.90. This trade represents 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 ninety days. Insiders own 44.58% of the company's stock.

Institutional Trading of Vertex

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quest Partners LLC grew its stake in Vertex by 344.5% during the 3rd quarter. Quest Partners LLC now owns 4,529 shares of the company's stock worth $174,000 after buying an additional 3,510 shares during the last quarter. MeadowBrook Investment Advisors LLC acquired a new stake in shares of Vertex in the third quarter valued at approximately $194,000. KBC Group NV boosted its holdings in shares of Vertex by 46.1% in the third quarter. KBC Group NV now owns 2,099 shares of the company's stock valued at $81,000 after acquiring an additional 662 shares during the period. Geneva Capital Management LLC grew its position in shares of Vertex by 40.1% during the third quarter. Geneva Capital Management LLC now owns 1,450,599 shares of the company's stock worth $55,863,000 after acquiring an additional 414,945 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Vertex by 406.9% in the 3rd quarter. Victory Capital Management Inc. now owns 34,386 shares of the company's stock valued at $1,324,000 after acquiring an additional 27,602 shares during the period. Institutional investors and hedge funds own 59.10% of the company's stock.

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.