Citizens Jmp Lowers Vertex (NASDAQ:VERX) Price Target to $37.00

Vertex (NASDAQ:VERX) had its price objective lowered by stock analysts at Citizens Jmp from $50.00 to $37.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. Citizens Jmp’s price target suggests a potential upside of 78.83% from the stock’s current price.

VERX has been the subject of several other research reports. JMP Securities set a $37.00 target price on shares of Vertex in a research note on Tuesday. Weiss Ratings reiterated a “sell (d)” rating on shares of Vertex in a research note on Wednesday, October 8th. The Goldman Sachs Group set a $43.00 target price on shares of Vertex and gave the stock a “buy” rating in a research note on Thursday, August 7th. Jefferies Financial Group set a $28.00 target price on shares of Vertex in a research note on Monday. Finally, Needham & Company LLC set a $30.00 target price on shares of Vertex and gave the stock a “buy” rating in a research note on Tuesday. Thirteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $37.80.

Vertex Stock Down 9.7%

VERX opened at $20.69 on Tuesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.99 and a quick ratio of 0.99. The company’s 50-day moving average is $24.79 and its 200 day moving average is $31.63. Vertex has a fifty-two week low of $19.29 and a fifty-two week high of $60.71. The firm has a market capitalization of $3.30 billion, a P/E ratio of -62.70, a PEG ratio of 4.64 and a beta of 0.63.

Vertex (NASDAQ:VERX) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Vertex had a negative net margin of 7.09% and a positive return on equity of 27.16%. The business had revenue of $192.11 million during the quarter, compared to the consensus estimate of $191.62 million. During the same quarter last year, the company posted $0.16 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. Vertex has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. Research analysts expect that Vertex will post 0.38 earnings per share for the current fiscal year.

Vertex announced that its Board of Directors has initiated a stock repurchase plan on Monday, November 3rd that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to repurchase up to 4.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Vertex

Several hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp lifted its position in Vertex by 31.0% during the second quarter. Fifth Third Bancorp now owns 1,467 shares of the company’s stock valued at $52,000 after purchasing an additional 347 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Vertex by 25.7% during the first quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock valued at $68,000 after purchasing an additional 395 shares during the last quarter. Blue Trust Inc. lifted its position in Vertex by 44.4% during the second quarter. Blue Trust Inc. now owns 1,664 shares of the company’s stock valued at $59,000 after purchasing an additional 512 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Vertex by 0.4% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 137,913 shares of the company’s stock valued at $3,456,000 after purchasing an additional 564 shares during the last quarter. Finally, Strategic Advocates LLC lifted its holdings in shares of Vertex by 9.6% in the 2nd quarter. Strategic Advocates LLC now owns 6,464 shares of the company’s stock worth $228,000 after acquiring an additional 565 shares during the last quarter. 70.32% of the stock is currently owned by institutional investors.

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.