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

Key Points

• Weiss Ratings has reiterated a "Sell (D)" rating for Vertex (NASDAQ:VERX) based on recent performance and analyst assessments.
• In the latest trading session, Vertex stock increased by $0.77 to reach $25.57, with an average price target of $42.71 and a market capitalization of $4.08 billion.
• Various analysts have issued mixed ratings for Vertex, with one rating it a "Strong Buy," nine a "Buy," five a "Hold," and one a "Sell."

Vertex (NASDAQ:VERX - Get Free Report)'s stock had its "sell (d)" rating restated by analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other equities analysts also recently commented on the stock. BMO Capital Markets reaffirmed a "market perform" rating on shares of Vertex in a research note 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. Piper Sandler started coverage on shares of Vertex in a report on Monday, June 16th. They issued an "overweight" rating and a $48.00 price objective for the company. DA Davidson cut shares of Vertex from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. Finally, Bank of America lowered their price target on shares of Vertex from $42.00 to $34.00 and set a "neutral" rating for the company in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $42.71.

Vertex Stock Performance

Vertex stock traded up $0.77 during mid-day trading on Wednesday, reaching $25.57. 1,390,511 shares of the company traded hands, compared to its average volume of 1,576,286. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 70.86, a price-to-earnings-growth ratio of 5.12 and a beta of 0.63. Vertex has a fifty-two week low of $23.13 and a fifty-two week high of $60.71. The firm's fifty day moving average is $25.83 and its two-hundred day moving average is $33.27. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.99 and a quick ratio of 0.99.

Vertex (NASDAQ:VERX - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.01. Vertex had a negative net margin of 7.09% and a positive return on equity of 27.16%. The firm had revenue of $184.56 million for the quarter, compared to analyst estimates of $184.60 million. During the same quarter in the prior year, the business earned $0.15 earnings per share. The business's quarterly revenue was up 14.6% compared to the same quarter last year. On average, equities research analysts expect that Vertex will post 0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vertex

A number of large investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp boosted its stake in shares of Vertex by 31.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,467 shares of the company's stock worth $52,000 after purchasing an additional 347 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Vertex during the 2nd quarter worth about $54,000. Blue Trust Inc. lifted its holdings in shares of Vertex by 44.4% during the 2nd quarter. Blue Trust Inc. now owns 1,664 shares of the company's stock worth $59,000 after acquiring an additional 512 shares during the period. Advisors Asset Management Inc. raised 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 buying an additional 395 shares during the period. Finally, US Bancorp DE raised 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 buying an additional 948 shares during the period. 70.32% of the stock is owned by institutional investors and hedge funds.

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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