Vertex, Inc. (NASDAQ:VERX) Receives $50.73 Average Price Target from Brokerages

Shares of Vertex, Inc. (NASDAQ:VERX - Get Free Report) have received a consensus rating of "Moderate Buy" from the thirteen ratings firms that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $50.73.

A number of equities research analysts have recently weighed in on VERX shares. BNP Paribas started coverage on Vertex in a research note on Tuesday, April 22nd. They issued an "outperform" rating and a $54.00 target price for the company. DA Davidson lowered their target price on Vertex from $55.00 to $50.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Morgan Stanley lowered their target price on Vertex from $60.00 to $55.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Jefferies Financial Group lowered their target price on Vertex from $62.00 to $48.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Finally, Stifel Nicolaus downgraded Vertex from a "buy" rating to a "hold" rating and reduced their price target for the company from $58.00 to $31.00 in a report on Friday, February 28th.

Vertex Trading Up 0.6%

NASDAQ:VERX traded up $0.23 during trading hours on Thursday, reaching $38.74. The company's stock had a trading volume of 802,103 shares, compared to its average volume of 1,019,447. The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of 215.22, a PEG ratio of 6.66 and a beta of 0.78. The firm has a 50-day simple moving average of $37.53 and a 200-day simple moving average of $45.93. Vertex has a 1 year low of $30.26 and a 1 year high of $60.71. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04.

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

Insiders Place Their Bets

In other Vertex news, CAO Ryan J. Leib sold 5,755 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $38.00, for a total transaction of $218,690.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David Destefano sold 109,415 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $37.70, for a total value of $4,124,945.50. Following the transaction, the chief executive officer now owns 1,066,587 shares in the company, valued at $40,210,329.90. This trade represents a 9.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 158,398 shares of company stock worth $5,898,979. Company insiders own 44.58% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc purchased a new position in shares of Vertex during the 1st quarter worth approximately $28,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Vertex during the 4th quarter worth approximately $38,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Vertex during the 4th quarter worth approximately $40,000. Plato Investment Management Ltd purchased a new stake in shares of Vertex in the 4th quarter worth approximately $41,000. Finally, Armstrong Advisory Group Inc. purchased a new stake in shares of Vertex in the 4th quarter worth approximately $50,000. 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.