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

Shares of Vertex, Inc. (NASDAQ:VERX - Get Free Report) have been given an average recommendation of "Moderate Buy" by the thirteen analysts that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $50.73.

Several research firms have commented on VERX. BNP Paribas began coverage on shares of Vertex in a research report on Tuesday, April 22nd. They issued an "outperform" rating and a $54.00 target price for the company. Jefferies Financial Group decreased their price objective on shares of Vertex from $62.00 to $48.00 and set a "buy" rating for the company in a report on Friday, February 28th. DA Davidson cut their target price on shares of Vertex from $55.00 to $50.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Needham & Company LLC restated a "buy" rating and issued a $60.00 price objective on shares of Vertex in a research note on Thursday, March 20th. Finally, Morgan Stanley dropped their target price on shares of Vertex from $60.00 to $55.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th.

Vertex Price Performance

VERX opened at $41.07 on Monday. Vertex has a 1-year low of $30.26 and a 1-year high of $60.71. The company has a 50-day moving average of $38.66 and a 200-day moving average of $45.02. 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 company has a market capitalization of $6.51 billion, a P/E ratio of 228.17, a PEG ratio of 6.66 and a beta of 0.75.

Vertex (NASDAQ:VERX - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.02. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The firm had revenue of $177.06 million during the quarter, compared to analyst estimates of $176.99 million. During the same period in the previous year, the business posted $0.15 EPS. Vertex's revenue was up 12.9% on a year-over-year basis. Equities analysts expect that Vertex will post 0.38 EPS for the current fiscal year.

Insider Transactions at Vertex

In other news, CAO Ryan J. Leib sold 5,755 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $38.00, for a total transaction of $218,690.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David Destefano sold 109,415 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $37.70, for a total value of $4,124,945.50. Following the sale, the chief executive officer now owns 1,066,587 shares in the company, valued at approximately $40,210,329.90. This represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 158,398 shares of company stock worth $5,898,979 in the last ninety days. Company insiders own 43.25% of the company's stock.

Institutional Trading of Vertex

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of Vertex during the fourth quarter valued at approximately $38,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Vertex during the fourth quarter valued at approximately $40,000. Plato Investment Management Ltd purchased a new stake in shares of Vertex during the fourth quarter valued at approximately $41,000. Versant Capital Management Inc purchased a new stake in shares of Vertex during the first quarter valued at approximately $28,000. Finally, Assetmark Inc. purchased a new stake in shares of Vertex during the fourth quarter valued at approximately $79,000. Hedge funds and other institutional investors own 70.32% of the company's stock.

About Vertex

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.

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