JMP Securities Reaffirms Market Outperform Rating for Vertex (NASDAQ:VERX)

JMP Securities reiterated their market outperform rating on shares of Vertex (NASDAQ:VERX - Free Report) in a research report sent to investors on Tuesday, Benzinga reports. The firm currently has a $42.00 price target on the stock.

Several other research analysts have also weighed in on the stock. Citigroup cut their price objective on shares of Vertex from $29.00 to $27.00 and set a neutral rating on the stock in a report on Friday, January 12th. The Goldman Sachs Group increased their price objective on shares of Vertex from $33.00 to $39.00 and gave the stock a buy rating in a report on Friday, March 1st. BMO Capital Markets increased their target price on shares of Vertex from $30.00 to $35.00 and gave the stock a market perform rating in a research report on Friday, March 1st. Needham & Company LLC increased their target price on shares of Vertex from $35.00 to $45.00 and gave the stock a buy rating in a research report on Friday, March 1st. Finally, Jefferies Financial Group increased their target price on shares of Vertex from $27.00 to $35.00 and gave the stock a hold rating in a research report on Friday, March 1st. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $35.67.

Vertex Trading Down 7.0 %

NASDAQ:VERX traded down $2.10 on Tuesday, reaching $27.94. The stock had a trading volume of 4,315,945 shares, compared to its average volume of 572,537. The company has a market cap of $4.31 billion, a price-to-earnings ratio of -279.50, a P/E/G ratio of 7.37 and a beta of 0.62. 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's fifty day moving average is $29.36 and its two-hundred day moving average is $26.95. Vertex has a 12-month low of $17.59 and a 12-month high of $35.38.

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

Insider Buying and Selling at Vertex

In other news, Director John Richard Stamm sold 6,500 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.48, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John Richard Stamm sold 6,500 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 15,930 shares in the company, valued at $469,616.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Item Second Irr. Trust Fbo Ann sold 26,609 shares of the firm's stock in a transaction on Friday, March 1st. The stock was 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 in the company, valued at $44,999,193.30. 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.

Hedge Funds Weigh In On Vertex

Hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Vertex in the 3rd quarter worth about $49,000. RiverPark Advisors LLC acquired a new stake in shares of Vertex in the third quarter valued at approximately $60,000. Arcadia Investment Management Corp MI raised its holdings in shares of Vertex by 22.4% during the third quarter. Arcadia Investment Management Corp MI now owns 2,664 shares of the company's stock valued at $62,000 after buying an additional 488 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Vertex during the fourth quarter worth approximately $72,000. Finally, F M Investments LLC bought a new position in Vertex in the 1st quarter worth approximately $209,000. Institutional investors and hedge funds own 59.10% 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.