Vertex (NASDAQ:VERX) Price Target Cut to $50.00 by Analysts at DA Davidson

Vertex (NASDAQ:VERX - Free Report) had its target price trimmed by DA Davidson from $55.00 to $50.00 in a report published on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock. DA Davidson also issued estimates for Vertex's Q1 2025 earnings at $0.09 EPS, FY2025 earnings at $0.40 EPS and FY2026 earnings at $0.58 EPS.

Several other equities research analysts have also recently weighed in on VERX. Morgan Stanley upped their price target on shares of Vertex from $57.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, March 20th. Raymond James reiterated a "market perform" rating on shares of Vertex in a report on Friday, January 3rd. Robert W. Baird decreased their price objective on Vertex from $62.00 to $45.00 and set an "outperform" rating for the company in a research note on Friday, February 28th. Needham & Company LLC reiterated a "buy" rating and issued a $60.00 target price on shares of Vertex in a report on Thursday, March 20th. Finally, The Goldman Sachs Group lowered their price target on shares of Vertex from $64.00 to $48.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $48.91.

Vertex Trading Up 0.8 %

Vertex stock traded up $0.31 during trading hours on Monday, hitting $39.25. The company had a trading volume of 692,229 shares, compared to its average volume of 1,031,686. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $6.21 billion, a P/E ratio of 218.06, a P/E/G ratio of 6.66 and a beta of 0.80. The company has a 50-day moving average price of $37.71 and a two-hundred day moving average price of $46.39. Vertex has a 1 year low of $27.22 and a 1 year high of $60.71.

Vertex (NASDAQ:VERX - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.03). The firm had revenue of $178.46 million during the quarter, compared to analysts' expectations of $176.90 million. Vertex had a net margin of 4.73% and a return on equity of 24.92%. On average, sell-side analysts anticipate that Vertex will post 0.38 earnings per share for the current year.

Insider Activity at Vertex

In other news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $35.98, for a total value of $1,555,343.44. Following the sale, the general counsel now owns 132 shares in the company, valued at $4,749.36. This represents a 99.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the business's stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $56.48, for a total transaction of $3,041,052.64. Following the transaction, the insider now owns 1,229,257 shares of the company's stock, valued at $69,428,435.36. This represents a 4.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 44.58% of the stock is owned by insiders.

Hedge Funds Weigh In On Vertex

A number of institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc purchased a new position in Vertex during the first quarter valued at approximately $28,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Vertex in the 4th quarter valued at $38,000. Mark Sheptoff Financial Planning LLC purchased a new stake in Vertex during the fourth quarter worth $40,000. Plato Investment Management Ltd acquired a new stake in Vertex during the fourth quarter valued at $41,000. Finally, Armstrong Advisory Group Inc. purchased a new position in Vertex in the fourth quarter valued at $50,000. Hedge funds and other institutional investors own 70.32% 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.