Vertex, Inc. (NASDAQ:VERX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Vertex, Inc. (NASDAQ:VERX) have received an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $36.11.

Several brokerages have issued reports on VERX. Citigroup boosted their price target on shares of Vertex from $32.00 to $36.00 and gave the company a “neutral” rating in a report on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 target price on shares of Vertex in a report on Thursday, June 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $42.00 target price on shares of Vertex in a report on Tuesday, April 23rd. Finally, Bank of America lowered their target price on shares of Vertex from $40.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, April 23rd.

Insider Buying and Selling at Vertex

In other Vertex news, major shareholder Jeffrey Westphal sold 1,500,000 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $32.93, for a total transaction of $49,395,000.00. Following the transaction, the insider now directly owns 2,554,641 shares in the company, valued at approximately $84,124,328.13. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 45.00% of the company’s stock.

Institutional Trading of Vertex

A number of institutional investors and hedge funds have recently modified their holdings of VERX. Barclays PLC increased its stake in shares of Vertex by 43.4% in the 3rd quarter. Barclays PLC now owns 23,112 shares of the company’s stock valued at $534,000 after acquiring an additional 6,994 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Vertex by 1,195.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 222,675 shares of the company’s stock valued at $5,144,000 after acquiring an additional 205,489 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Vertex by 31.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 284,834 shares of the company’s stock valued at $6,580,000 after acquiring an additional 68,289 shares during the last quarter. Invesco Ltd. increased its stake in shares of Vertex by 85.7% in the 3rd quarter. Invesco Ltd. now owns 425,192 shares of the company’s stock valued at $9,822,000 after acquiring an additional 196,169 shares during the last quarter. Finally, Algert Global LLC bought a new stake in Vertex during the 3rd quarter worth approximately $780,000. 59.10% of the stock is owned by institutional investors.

Vertex Trading Up 0.7 %

Shares of VERX stock opened at $36.05 on Monday. Vertex has a 1 year low of $17.59 and a 1 year high of $36.36. The firm’s fifty day simple moving average is $32.59 and its 200 day simple moving average is $29.38. The firm has a market capitalization of $5.59 billion, a P/E ratio of 901.25, a price-to-earnings-growth ratio of 18.35 and a beta of 0.69. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.17.

Vertex (NASDAQ:VERX) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). The business had revenue of $156.78 million during the quarter, compared to the consensus estimate of $155.50 million. Vertex had a net margin of 1.29% and a return on equity of 18.67%. As a group, sell-side analysts predict that Vertex will post 0.19 EPS for the current 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.