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

Vertex, Inc. (NASDAQ:VERX) has earned an average recommendation of “Hold” from the fifteen brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $17.50.

A number of analysts have recently issued reports on the company. Wall Street Zen raised Vertex from a “hold” rating to a “buy” rating in a research report on Sunday, October 18th. Morgan Stanley reissued an “equal weight” rating and set a $15.00 target price (down from $19.00) on shares of Vertex in a report on Tuesday, July 21st. Stephens dropped their price target on Vertex from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 4th. BMO Capital Markets raised their price target on Vertex from $14.00 to $15.00 and gave the company a “market perform” rating in a report on Tuesday, August 4th. Finally, Weiss Ratings raised shares of Vertex from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday.

Vertex Stock Performance

Shares of VERX opened at $15.17 on Thursday. The firm has a 50-day moving average of $13.00 and a 200-day moving average of $13.45. Vertex has a one year low of $10.21 and a one year high of $25.84. The company has a market cap of $2.46 billion, a PE ratio of 758.88 and a beta of 0.83. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.87 and a quick ratio of 0.87.

Vertex (NASDAQ:VERX) last issued its earnings results on Monday, August 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. The business had revenue of $203.97 million during 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 revenue was up 10.5% on a year-over-year basis. During the same period last year, the business posted $0.15 EPS. As a group, equities analysts forecast that Vertex will post 0.58 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of VERX. Verdence Capital Advisors LLC acquired a new stake in Vertex during the 3rd quarter worth approximately $128,000. Radnor Capital Management LLC bought a new stake in Vertex in the 3rd quarter valued at $209,000. Sterling Capital Management LLC grew its holdings 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 in the last quarter. Inspire Investing LLC acquired a new position in Vertex in the 3rd quarter valued at $649,000. Finally, Bank Pictet & Cie Europe AG grew its holdings in Vertex by 20.7% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 37,850 shares of the company’s stock valued at $446,000 after buying an additional 6,500 shares in the last quarter. Institutional investors and hedge funds own 70.32% of the company’s stock.

Vertex Company Profile

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.