Vertex, Inc. (NASDAQ:VERX) Stock Has Consensus Price Target of $17.43

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 $17.43 versus the stock’s reported price of $11.37.
• Vertex shares were down 2.7%, trading below their 50-day and 200-day moving averages, with a 52-week range of $10.21 to $26.54. Institutional investors own approximately 70.32% of the company.
• Vertex exceeded quarterly expectations, reporting $0.20 in adjusted earnings per share versus a $0.19 consensus estimate and $203.97 million in revenue. Revenue increased 10.5% year over year, while analysts project full-year EPS of $0.54.

Shares of Vertex, Inc. (NASDAQ:VERX - Get Free Report) have received a consensus recommendation of "Hold" from the fifteen brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $17.43.

VERX has been the topic of several recent research reports. DA Davidson decreased their price target on shares of Vertex from $15.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday, August 4th. BMO Capital Markets boosted their price objective on shares of Vertex from $14.00 to $15.00 and gave the company a "market perform" rating in a research report on Tuesday, August 4th. Morgan Stanley restated an "equal weight" rating and issued a $15.00 price objective (down from $19.00) on shares of Vertex in a research note on Tuesday, July 21st. Robert W. Baird decreased their target price on Vertex from $19.00 to $17.00 and set an "outperform" rating on the stock in a report on Tuesday, August 4th. Finally, TD Cowen began coverage on Vertex in a report on Monday, June 29th. They issued a "buy" rating and a $14.00 target price on the stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Palladiem LLC bought a new position in shares of Vertex during the 4th quarter valued at approximately $88,000. PNC Financial Services Group Inc. increased its holdings in Vertex by 3,088.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,257 shares of the company's stock worth $165,000 after acquiring an additional 7,998 shares in the last quarter. Versant Capital Management Inc raised its stake in Vertex by 74.8% during the 2nd quarter. Versant Capital Management Inc now owns 8,604 shares of the company's stock worth $99,000 after acquiring an additional 3,683 shares during the period. Caxton Associates LLP bought a new stake in Vertex during the 1st quarter worth approximately $132,000. Finally, State of Wyoming raised its stake in Vertex by 87.6% during the 4th quarter. State of Wyoming now owns 12,132 shares of the company's stock worth $242,000 after acquiring an additional 5,666 shares during the period. Institutional investors own 70.32% of the company's stock.

Vertex Trading Down 2.7%

Vertex stock opened at $11.37 on Friday. The business has a 50-day simple moving average of $12.73 and a two-hundred day simple moving average of $12.63. The company has a market cap of $1.84 billion, a P/E ratio of 568.78 and a beta of 0.83. Vertex has a 52-week low of $10.21 and a 52-week high of $26.54. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.40.

Vertex (NASDAQ:VERX - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. The firm had revenue of $203.97 million for the quarter, compared to analysts' expectations of $202.21 million. Vertex had a net margin of 0.45% and a return on equity of 29.00%. The business's quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.15 EPS. Analysts predict that Vertex will post 0.54 EPS for the current year.

Vertex Company Profile

Vertex, Inc NASDAQ: VERX is a provider of tax technology solutions for businesses. The company develops cloud-based software designed to help organizations calculate, manage and comply with transaction tax obligations across complex jurisdictions and regulatory environments.

Vertex's product portfolio includes solutions for indirect tax determination and compliance, including sales and use tax, value-added tax and other transaction taxes. Its offerings also support tax data management, tax returns, exemption certificate management, tax reporting and related workflows.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.