Vertex, Inc. (NASDAQ:VERX) Receives $21.33 Consensus Target Price from Brokerages

Shares of Vertex, Inc. (NASDAQ:VERX – Get Rating) have earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $21.33.

VERX has been the topic of several research analyst reports. Raymond James lifted their price objective on Vertex from $22.00 to $24.00 in a report on Thursday, May 11th. BMO Capital Markets boosted their target price on Vertex from $21.00 to $23.00 in a report on Thursday, May 11th. Bank of America raised shares of Vertex from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $16.00 to $20.00 in a research report on Wednesday, March 8th. JMP Securities reaffirmed a “market outperform” rating and set a $28.00 price target on shares of Vertex in a research report on Thursday, March 9th. Finally, Needham & Company LLC boosted their target price on Vertex from $19.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, March 9th.

Insider Activity at Vertex

In other Vertex news, CAO Lisa Butler sold 22,894 shares of the company’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $16.42, for a total transaction of $375,919.48. Following the sale, the chief accounting officer now directly owns 250 shares of the company’s stock, valued at $4,105. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Vertex news, CFO John R. Schwab sold 30,000 shares of the stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $19.61, for a total value of $588,300.00. Following the completion of the sale, the chief financial officer now directly owns 23,316 shares in the company, valued at $457,226.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Lisa Butler sold 22,894 shares of the stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $16.42, for a total value of $375,919.48. Following the completion of the transaction, the chief accounting officer now directly owns 250 shares in the company, valued at $4,105. The disclosure for this sale can be found here. Insiders sold a total of 1,947,785 shares of company stock worth $35,002,017 in the last quarter. 46.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of VERX. Royce & Associates LP purchased a new position in Vertex during the first quarter worth $1,469,000. Putnam Investments LLC boosted its holdings in Vertex by 23.0% in the first quarter. Putnam Investments LLC now owns 381,604 shares of the company’s stock valued at $7,895,000 after acquiring an additional 71,294 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Vertex by 15.4% in the first quarter. Ameriprise Financial Inc. now owns 323,108 shares of the company’s stock valued at $6,685,000 after acquiring an additional 43,109 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in Vertex by 1.3% in the first quarter. New York State Common Retirement Fund now owns 270,827 shares of the company’s stock valued at $5,603,000 after acquiring an additional 3,562 shares during the last quarter. Finally, State Street Corp boosted its holdings in Vertex by 7.8% in the first quarter. State Street Corp now owns 260,365 shares of the company’s stock valued at $5,387,000 after acquiring an additional 18,922 shares during the last quarter. 21.53% of the stock is owned by institutional investors and hedge funds.

Vertex Stock Down 1.9 %

VERX stock opened at $21.10 on Friday. Vertex has a 1-year low of $9.44 and a 1-year high of $22.98. The business has a fifty day moving average price of $20.79 and a 200-day moving average price of $17.11. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.55 and a quick ratio of 0.55. The stock has a market capitalization of $3.20 billion, a P/E ratio of -100.48, a P/E/G ratio of 7.51 and a beta of 0.60.

Vertex (NASDAQ:VERX – Get Rating) last released its quarterly earnings results on Wednesday, March 8th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.02. The business had revenue of $131.13 million during the quarter, compared to analyst estimates of $125.36 million. Vertex had a positive return on equity of 12.20% and a negative net margin of 5.91%. Equities analysts forecast that Vertex will post 0.26 earnings per share for the current fiscal year.

Vertex Company Profile

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Vertex, Inc provides tax technology solutions for corporations in retail, communication, leasing, and manufacturing industries in the United States and internationally. It offers tax determination, compliance and reporting, tax data management, document management, pre-built integration, and industry-specific solutions.