Brokerages Set Vertex, Inc. (NASDAQ:VERX) Price Target at $35.67

Shares of Vertex, Inc. (NASDAQ:VERX) have earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are 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 12-month target price among analysts that have issued ratings on the stock in the last year is $36.11.

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

Vertex Stock Performance

NASDAQ:VERX opened at $36.05 on Monday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.17. The company has a market cap of $5.59 billion, a P/E ratio of 901.25, a P/E/G ratio of 18.35 and a beta of 0.69. Vertex has a fifty-two week low of $17.59 and a fifty-two week high of $36.36. The firm’s 50 day moving average is $32.59 and its two-hundred day moving average is $29.38.

Vertex (NASDAQ:VERX) last released its quarterly earnings data 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). Vertex had a return on equity of 18.67% and a net margin of 1.29%. The business had revenue of $156.78 million during the quarter, compared to analyst estimates of $155.50 million. Analysts expect that Vertex will post 0.19 EPS for the current year.

Insiders Place Their Bets

In other Vertex news, major shareholder Jeffrey Westphal sold 1,500,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 2,554,641 shares of the company’s stock, valued at approximately $84,124,328.13. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 45.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Conestoga Capital Advisors LLC lifted its position in shares of Vertex by 19.0% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,832,620 shares of the company’s stock worth $76,311,000 after buying an additional 452,840 shares during the last quarter. Comerica Bank bought a new stake in Vertex in the 3rd quarter valued at about $4,763,000. Invesco Ltd. lifted its position in 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 purchasing an additional 196,169 shares during the last quarter. Vanguard Group Inc. lifted its position in Vertex by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 4,918,733 shares of the company’s stock valued at $113,623,000 after purchasing an additional 264,884 shares during the last quarter. Finally, Axiom Investors LLC DE bought a new stake in Vertex in the 4th quarter valued at about $9,253,000. 59.10% of the stock is currently owned by institutional investors.

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.