Vertex (NASDAQ:VERX) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Vertex (NASDAQ:VERX) announced its quarterly earnings data on Wednesday. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04, FiscalAI reports. The business had revenue of $213.28 million during the quarter, compared to analysts’ expectations of $209.72 million. Vertex had a return on equity of 29.00% and a net margin of 0.45%.

Vertex Stock Up 4.3%

Shares of VERX stock traded up $0.66 on Wednesday, hitting $15.92. 1,866,890 shares of the stock were exchanged, compared to its average volume of 1,813,214. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $2.58 billion, a P/E ratio of 796.40 and a beta of 0.77. The business has a 50-day moving average of $13.23 and a 200 day moving average of $13.31. Vertex has a fifty-two week low of $10.21 and a fifty-two week high of $20.85.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VERX. Weiss Ratings upgraded Vertex from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, October 23rd. DA Davidson decreased their price objective on shares of Vertex from $15.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, August 4th. Wall Street Zen raised shares of Vertex from a “hold” rating to a “buy” rating in a research note on Sunday, October 18th. Robert W. Baird cut their target price on shares of Vertex from $19.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, August 4th. Finally, Stephens reduced their price target on shares of Vertex from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Vertex presently has an average rating of “Hold” and an average target price of $17.50.

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.