Vertex (VERX) Set to Announce Earnings on Wednesday

Vertex (NASDAQ:VERX - Get Free Report) will be posting its quarterly earnings results before the market opens on Wednesday, May 8th. Analysts expect Vertex to post earnings of $0.13 per share for the quarter. Vertex has set its FY 2024 guidance at EPS and its Q1 2024 guidance at EPS.Individual interested in listening to the company's earnings conference call can do so using this link.

Vertex (NASDAQ:VERX - Get Free Report) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.09 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $146.44 million. On average, analysts expect Vertex to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Vertex Trading Up 0.3 %

NASDAQ VERX traded up $0.08 during mid-day trading on Wednesday, hitting $29.21. The company's stock had a trading volume of 1,061,639 shares, compared to its average volume of 649,352. Vertex has a 52-week low of $17.59 and a 52-week high of $35.38. The stock's fifty day simple moving average is $29.79 and its two-hundred day simple moving average is $27.17. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.60 and a quick ratio of 0.60. The firm has a market capitalization of $4.51 billion, a P/E ratio of -291.30, a price-to-earnings-growth ratio of 7.53 and a beta of 0.62.

Insider Buying and Selling at Vertex

In other Vertex news, Director John Richard Stamm sold 6,500 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.48, for a total value of $191,620.00. Following the completion of the sale, the director now owns 15,930 shares of the company's stock, valued at $469,616.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Item Second Irr. Trust Fbo Ann sold 26,609 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $33.62, for a total transaction of $894,594.58. Following the completion of the sale, the insider now owns 1,338,465 shares of the company's stock, valued at $44,999,193.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Richard Stamm sold 6,500 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.48, for a total transaction of $191,620.00. Following the sale, the director now directly owns 15,930 shares of the company's stock, valued at approximately $469,616.40. The disclosure for this sale can be found here. Insiders sold 1,161,048 shares of company stock valued at $35,034,678 over the last 90 days. 45.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Citigroup cut their price target on shares of Vertex from $34.00 to $32.00 and set a "neutral" rating on the stock in a report on Tuesday, April 23rd. JMP Securities restated a "market outperform" rating and issued a $42.00 price target on shares of Vertex in a report on Tuesday, April 23rd. Jefferies Financial Group raised their price target on shares of Vertex from $27.00 to $35.00 and gave the company a "hold" rating in a report on Friday, March 1st. BMO Capital Markets raised their price target on shares of Vertex from $30.00 to $35.00 and gave the company a "market perform" rating in a report on Friday, March 1st. Finally, Needham & Company LLC increased their price objective on shares of Vertex from $35.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, March 1st. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Vertex presently has an average rating of "Moderate Buy" and an average price target of $35.67.

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.