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

Key Points

• Vertex, Inc. has received an average rating of "Moderate Buy" from analysts, with five holding ratings, eight buy ratings, and one strong buy rating.
• The average 1-year target price for Vertex's stock among brokers is $43.69, with JMP Securities setting a target price of $50.00.
• Insider selling has been noted, with a significant transaction of 14,425 shares sold at an average price of $35.24, reducing insider ownership by 7.69%.

Vertex, Inc. (NASDAQ:VERX - Get Free Report) has been given an average recommendation of "Moderate Buy" by the fourteen analysts that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $43.6923.

Several brokerages have issued reports on VERX. JMP Securities set a $50.00 target price on Vertex and gave the company a "market outperform" rating in a report on Thursday, August 7th. Piper Sandler assumed coverage on shares of Vertex in a research report on Monday, June 16th. They set an "overweight" rating and a $48.00 price target on the stock. DA Davidson cut shares of Vertex from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. Citigroup raised shares of Vertex from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 7th. Finally, BMO Capital Markets reissued a "market perform" rating on shares of Vertex in a research note on Thursday, August 7th.

Insiders Place Their Bets

In other Vertex news, insider Item Second Irr. Trust Fbo Ann sold 14,425 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $35.24, for a total transaction of $508,337.00. Following the completion of the sale, the insider owned 173,074 shares of the company's stock, valued at $6,099,127.76. This trade represents a 7.69% 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. Insiders sold 23,767 shares of company stock valued at $836,367 in the last ninety days. Corporate insiders own 43.25% of the company's stock.

Hedge Funds Weigh In On Vertex

Several large investors have recently modified their holdings of VERX. DLD Asset Management LP acquired a new position in shares of Vertex in the 2nd quarter valued at $300,348,000. Wasatch Advisors LP acquired a new position in shares of Vertex in the 2nd quarter valued at $88,293,000. Champlain Investment Partners LLC acquired a new position in shares of Vertex in the 2nd quarter valued at $60,381,000. Geneva Capital Management LLC lifted its stake in shares of Vertex by 47.7% in the 2nd quarter. Geneva Capital Management LLC now owns 3,017,735 shares of the company's stock valued at $106,632,000 after purchasing an additional 974,530 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its stake in shares of Vertex by 63.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,429,416 shares of the company's stock valued at $85,054,000 after purchasing an additional 939,031 shares during the last quarter. Institutional investors and hedge funds own 70.32% of the company's stock.

Vertex Stock Up 6.5%

VERX stock opened at $25.52 on Wednesday. The company has a market cap of $4.07 billion, a price-to-earnings ratio of -77.33, a PEG ratio of 4.97 and a beta of 0.67. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.36. Vertex has a 12 month low of $23.13 and a 12 month high of $60.71. The firm has a 50-day moving average of $29.01 and a two-hundred day moving average of $34.22.

Vertex (NASDAQ:VERX - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. Vertex had a positive return on equity of 27.16% and a negative net margin of 7.09%.The business had revenue of $184.56 million for the quarter, compared to analysts' expectations of $184.60 million. During the same period in the previous year, the firm posted $0.15 EPS. The business's revenue for the quarter was up 14.6% compared to the same quarter last year. As a group, analysts forecast that Vertex will post 0.38 earnings per share for the current fiscal 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.

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