Vertex, Inc. (NASDAQ:VERX) Given Average Rating of "Moderate Buy" by Analysts

Vertex, Inc. (NASDAQ:VERX - Get Free Report) has received an average rating of "Moderate Buy" from the ten brokerages that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $35.78.

Several equities analysts recently weighed in on VERX shares. Bank of America upgraded shares of Vertex from an "underperform" rating to a "neutral" rating and increased their price target for the company from $23.00 to $40.00 in a research report on Friday, March 1st. BMO Capital Markets raised their target price on shares of Vertex from $30.00 to $35.00 and gave the company a "market perform" rating in a research note on Friday, March 1st. JMP Securities increased their price target on shares of Vertex from $31.00 to $42.00 and gave the stock a "market outperform" rating in a research note on Friday, March 1st. Needham & Company LLC increased their price target on shares of Vertex from $35.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, March 1st. Finally, The Goldman Sachs Group increased their price objective on shares of Vertex from $33.00 to $39.00 and gave the company a "buy" rating in a research report on Friday, March 1st.

Insider Activity at Vertex

In other news, insider Item Second Irr. Trust Fbo Ann sold 26,609 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $33.62, for a total transaction of $894,594.58. Following the transaction, the insider now owns 1,338,465 shares in the company, valued at approximately $44,999,193.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider 2020 Irrevocable Trust For Ben sold 30,692 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $30.22, for a total transaction of $927,512.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Item Second Irr. Trust Fbo Ann sold 26,609 shares of the firm's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $33.62, for a total value of $894,594.58. Following the transaction, the insider now owns 1,338,465 shares of the company's stock, valued at $44,999,193.30. The disclosure for this sale can be found here. Insiders have sold a total of 1,161,048 shares of company stock worth $35,034,678 over the last quarter. Insiders own 45.00% of the company's stock.

Institutional Investors Weigh In On Vertex

Several hedge funds and other institutional investors have recently made changes to their positions in VERX. Comerica Bank purchased a new stake in shares of Vertex in the third quarter valued at approximately $4,763,000. Invesco Ltd. increased its stake in Vertex by 85.7% during the third quarter. Invesco Ltd. now owns 425,192 shares of the company's stock worth $9,822,000 after acquiring an additional 196,169 shares during the last quarter. Vanguard Group Inc. increased its stake in Vertex by 5.7% during the third quarter. Vanguard Group Inc. now owns 4,918,733 shares of the company's stock worth $113,623,000 after acquiring an additional 264,884 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Vertex by 1,195.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 222,675 shares of the company's stock worth $5,144,000 after acquiring an additional 205,489 shares during the last quarter. Finally, Meridian Wealth Partners LLC acquired a new stake in Vertex during the third quarter worth about $2,907,000. Institutional investors and hedge funds own 59.10% of the company's stock.

Vertex Price Performance

VERX stock traded down $0.60 during mid-day trading on Wednesday, hitting $31.97. The stock had a trading volume of 317,417 shares, compared to its average volume of 542,449. The firm has a market capitalization of $4.93 billion, a P/E ratio of -319.70, a P/E/G ratio of 8.22 and a beta of 0.62. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.17. The firm has a fifty day simple moving average of $28.65 and a 200 day simple moving average of $26.51. Vertex has a 52 week low of $17.59 and a 52 week high of $35.38.

Vertex (NASDAQ:VERX - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.02. Vertex had a negative net margin of 2.29% and a positive return on equity of 16.15%. The firm had revenue of $154.91 million for the quarter, compared to the consensus estimate of $146.44 million. As a group, research analysts forecast that Vertex will post 0.36 EPS for the current 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.