Vertex (NASDAQ:VERX) Reaches New 12-Month High – Time to Buy?

Shares of Vertex, Inc. (NASDAQ:VERX) hit a new 52-week high on Wednesday . The company traded as high as $42.46 and last traded at $42.44, with a volume of 468670 shares changing hands. The stock had previously closed at $41.26.

Wall Street Analysts Forecast Growth

VERX has been the topic of a number of recent research reports. Baird R W raised shares of Vertex to a “strong-buy” rating in a research report on Tuesday, July 23rd. Citigroup lifted their price target on shares of Vertex from $32.00 to $36.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. JMP Securities boosted their target price on shares of Vertex from $42.00 to $47.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 31st. Finally, Robert W. Baird began coverage on shares of Vertex in a research report on Tuesday, July 23rd. They set an “outperform” rating and a $43.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Vertex presently has an average rating of “Moderate Buy” and a consensus target price of $37.30.

Vertex Trading Up 0.4 %

The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.43. The business’s 50 day moving average is $37.80 and its 200-day moving average is $35.16. The firm has a market cap of $6.65 billion, a P/E ratio of 1,071.75, a price-to-earnings-growth ratio of 11.74 and a beta of 0.68.

Vertex (NASDAQ:VERX) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The business had revenue of $161.10 million during the quarter, compared to analyst estimates of $160.66 million. Vertex had a net margin of 3.20% and a return on equity of 22.32%. The business’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.04 earnings per share. As a group, analysts forecast that Vertex, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Vertex

In other Vertex news, insider Item Second Irr. Trust Fbo Jac sold 56,419 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $40.77, for a total transaction of $2,300,202.63. Following the completion of the sale, the insider now owns 932,706 shares in the company, valued at $38,026,423.62. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Vertex news, insider Item Second Irr. Trust Fbo Jac sold 56,419 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $40.77, for a total transaction of $2,300,202.63. Following the completion of the sale, the insider now owns 932,706 shares in the company, valued at $38,026,423.62. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO John R. Schwab sold 25,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $35.81, for a total transaction of $895,250.00. Following the sale, the chief financial officer now owns 53,104 shares of the company’s stock, valued at approximately $1,901,654.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,129,244 shares of company stock worth $120,754,589 over the last 90 days. Insiders own 45.00% of the company’s stock.

Hedge Funds Weigh In On Vertex

Several institutional investors have recently modified their holdings of the company. Blue Trust Inc. acquired a new stake in Vertex in the second quarter worth about $28,000. Quest Partners LLC acquired a new stake in Vertex in the second quarter worth about $37,000. Canada Pension Plan Investment Board acquired a new stake in Vertex in the second quarter worth about $40,000. Amalgamated Bank acquired a new stake in Vertex in the second quarter worth about $68,000. Finally, Sandia Investment Management LP acquired a new stake in Vertex in the first quarter worth about $159,000. Institutional investors own 59.10% 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.