Vertex, Inc. (NASDAQ:VERX) Stock Has Average Price Target of $17.50

Key Points

• Analysts have a consensus “Hold” rating on Vertex, with seven Buy, seven Hold, and one Sell recommendation; the average 12-month price target is $17.50.
• Several firms recently lowered their targets, including Stephens to $18, Robert W. Baird to $17, Morgan Stanley to $15, and DA Davidson to $12.
• Vertex beat quarterly expectations with EPS of $0.20 versus $0.19 and revenue of $203.97 million, up 10.5% year over year; institutional investors own 70.32% of the stock.

Shares of Vertex, Inc. (NASDAQ:VERX - Get Free Report) have received an average rating of "Hold" from the fifteen research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $17.50.

VERX has been the subject of several research reports. Stephens reduced their target price on Vertex from $20.00 to $18.00 and set an "overweight" rating for the company in a report on Tuesday, August 4th. Robert W. Baird decreased their target price on Vertex from $19.00 to $17.00 and set an "outperform" rating for the company in a research report on Tuesday, August 4th. Morgan Stanley restated an "equal weight" rating and set a $15.00 price target (down from $19.00) on shares of Vertex in a research note on Tuesday, July 21st. DA Davidson cut their price target on Vertex from $15.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday, August 4th. Finally, Weiss Ratings raised Vertex from a "sell (e+)" rating to a "sell (d)" rating in a research report on Wednesday, August 5th.

Vertex Price Performance

Shares of NASDAQ:VERX opened at $14.67 on Thursday. The company's fifty day moving average price is $12.88 and its 200 day moving average price is $12.62. Vertex has a 12 month low of $10.21 and a 12 month high of $26.34. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $2.38 billion, a P/E ratio of 733.87 and a beta of 0.83.

Vertex (NASDAQ:VERX - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. The company had revenue of $203.97 million during the quarter, compared to the consensus estimate of $202.21 million. Vertex had a net margin of 0.45% and a return on equity of 29.00%. Vertex's revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 earnings per share. As a group, sell-side analysts predict that Vertex will post 0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vertex

Institutional investors have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Vertex in the 1st quarter valued at $37,796,000. Arrowstreet Capital Limited Partnership boosted its stake in Vertex by 1,906.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 935,668 shares of the company's stock worth $11,125,000 after purchasing an additional 889,042 shares during the period. Counterpoint Mutual Funds LLC purchased a new position in Vertex during the 1st quarter worth $4,836,000. Renaissance Technologies LLC grew its position in Vertex by 8.1% during the 1st quarter. Renaissance Technologies LLC now owns 290,500 shares of the company's stock worth $3,454,000 after purchasing an additional 21,700 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd grew its position in Vertex by 35.6% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 256,289 shares of the company's stock worth $3,047,000 after purchasing an additional 67,270 shares during the last quarter. 70.32% of the stock is owned by institutional investors and hedge funds.

Vertex Company Profile

Vertex, Inc is a tax technology company that provides software and services to help businesses manage tax determination, compliance and reporting. Its solutions are designed to support complex transaction tax requirements across sales and use tax, value-added tax, goods and services tax, communications tax, and other indirect taxes.

The company's offerings include cloud-based and enterprise tax software, tax calculation engines, compliance and returns management tools, tax data management, and related professional services.

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