Weiss Ratings Reaffirms Sell (D) Rating for Vertex (NASDAQ:VERX)

Key Points

• Weiss Ratings has reaffirmed a "sell (D)" rating for Vertex (NASDAQ:VERX) in a recent research report, indicating continued skepticism about the stock's performance.
• Despite the sell rating from Weiss, Vertex has received a variety of ratings from other analysts, with one strong buy, nine buy, five hold, and one sell rating, showcasing mixed sentiments in the market.
• Vertex's stock is currently trading at $25.41, having a 12-month high of $60.71 and a market capitalization of $4.05 billion, with recent trading volume significantly below its average.

Vertex (NASDAQ:VERX - Get Free Report)'s stock had its "sell (d)" rating reaffirmed by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

Other equities research analysts also recently issued reports about the company. The Goldman Sachs Group set a $43.00 target price on Vertex and gave the stock a "buy" rating in a report on Thursday, August 7th. DA Davidson raised Vertex to a "hold" rating in a report on Wednesday. Jefferies Financial Group reaffirmed a "buy" rating and set a $35.00 price target on shares of Vertex in a report on Tuesday. Citigroup raised Vertex from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Finally, Stephens initiated coverage on Vertex in a research report on Friday, September 26th. They issued an "overweight" rating and a $30.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $41.79.

Vertex Stock Up 0.4%

Vertex stock traded up $0.11 during mid-day trading on Friday, hitting $25.41. The company had a trading volume of 899,053 shares, compared to its average volume of 1,402,879. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.36. The stock's 50 day moving average price is $25.06 and its two-hundred day moving average price is $32.39. Vertex has a 12 month low of $23.13 and a 12 month high of $60.71. The company has a market capitalization of $4.05 billion, a PE ratio of 72.29, a price-to-earnings-growth ratio of 5.13 and a beta of 0.63.

Vertex (NASDAQ:VERX - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.15 EPS 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 the consensus estimate of $184.60 million. During the same period in the previous year, the company posted $0.15 earnings per share. The company's revenue for the quarter was up 14.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Vertex will post 0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Fifth Third Bancorp lifted its holdings in Vertex by 31.0% in the second quarter. Fifth Third Bancorp now owns 1,467 shares of the company's stock valued at $52,000 after acquiring an additional 347 shares during the period. Raymond James Financial Inc. bought a new position in Vertex in the second quarter valued at about $54,000. Blue Trust Inc. lifted its holdings in Vertex by 44.4% in the second quarter. Blue Trust Inc. now owns 1,664 shares of the company's stock valued at $59,000 after acquiring an additional 512 shares during the period. Advisors Asset Management Inc. lifted its holdings in Vertex by 25.7% in the first quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company's stock valued at $68,000 after acquiring an additional 395 shares during the period. Finally, US Bancorp DE lifted its holdings in Vertex by 88.1% in the first quarter. US Bancorp DE now owns 2,024 shares of the company's stock valued at $71,000 after acquiring an additional 948 shares during the period. Institutional investors own 70.32% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.