Vertex, Inc. (NASDAQ:VERX) Stock Has Consensus Price Target of $17.50

by · The Markets Daily

Vertex, Inc. (NASDAQ:VERX – Get Free Report) has been assigned an average rating of “Hold” from the fifteen analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $17.50.

A number of equities research analysts have weighed in on VERX shares. Weiss Ratings upgraded shares of Vertex from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday. Wall Street Zen raised Vertex from a “hold” rating to a “buy” rating in a report on Sunday, October 18th. Morgan Stanley reissued an “equal weight” rating and set a $15.00 price target (down from $19.00) on shares of Vertex in a research note on Tuesday, July 21st. BMO Capital Markets increased their target price on Vertex from $14.00 to $15.00 and gave the company a “market perform” rating in a research note on Tuesday, August 4th. Finally, TD Cowen cut their target price on shares of Vertex from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, October 13th.

Read Our Latest Analysis on VERX

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Radnor Capital Management LLC bought a new stake in shares of Vertex during the third quarter worth $209,000. Sterling Capital Management LLC raised its position in Vertex by 841.4% in the 3rd quarter. Sterling Capital Management LLC now owns 2,410 shares of the company’s stock valued at $28,000 after buying an additional 2,154 shares during the last quarter. Inspire Investing LLC bought a new stake in Vertex in the 3rd quarter valued at approximately $649,000. Bank Pictet & Cie Europe AG boosted its holdings in Vertex by 20.7% during the third quarter. Bank Pictet & Cie Europe AG now owns 37,850 shares of the company’s stock worth $446,000 after purchasing an additional 6,500 shares during the last quarter. Finally, Whetstone Capital Advisors LLC bought a new position in Vertex in the second quarter valued at $1,563,000. 70.32% of the stock is currently owned by institutional investors.

Vertex Price Performance

NASDAQ VERX opened at $15.39 on Thursday. Vertex has a twelve month low of $10.21 and a twelve month high of $25.89. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $2.50 billion, a PE ratio of 769.88 and a beta of 0.83. The stock has a 50-day simple moving average of $12.98 and a 200 day simple moving average of $12.66.

Vertex (NASDAQ:VERX – Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. The business had revenue of $203.97 million for the quarter, compared to the consensus estimate of $202.21 million. Vertex had a net margin of 0.45% and a return on equity of 29.00%. Vertex’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the company posted $0.15 earnings per share. Research analysts anticipate that Vertex will post 0.58 EPS for the current year.

About Vertex

(Get Free Report)

Vertex, Inc is a tax technology company that provides software and services to help businesses manage tax determination, compliance and reporting. Its solutions are designed to support complex transaction tax requirements across sales and use tax, value-added tax, goods and services tax, communications tax, and other indirect taxes.

The company’s offerings include cloud-based and enterprise tax software, tax calculation engines, compliance and returns management tools, tax data management, and related professional services.

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