Shares of Vertex, Inc. (NASDAQ:VERX – Get Free Report) have been given a consensus rating of “Hold” by the fifteen brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $17.50.
VERX has been the topic of several research analyst reports. BMO Capital Markets raised their target price on shares of Vertex from $14.00 to $15.00 and gave the company a “market perform” rating in a research note on Tuesday, August 4th. DA Davidson reduced their price target on shares of Vertex from $15.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, August 4th. Wall Street Zen upgraded shares of Vertex from a “hold” rating to a “buy” rating in a report on Sunday, October 18th. Robert W. Baird decreased their price objective on shares of Vertex from $19.00 to $17.00 and set an “outperform” rating for the company in a report on Tuesday, August 4th. Finally, Weiss Ratings upgraded shares of Vertex from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, October 23rd.
View Our Latest Research Report on Vertex
Vertex Trading Up 0.1%
NASDAQ:VERX opened at $14.81 on Thursday. Vertex has a 1 year low of $10.21 and a 1 year high of $25.02. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 740.87 and a beta of 0.83. The business has a fifty day moving average of $13.09 and a 200-day moving average of $13.40. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.87 and a current ratio of 0.87.
Vertex (NASDAQ:VERX – Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $203.97 million for the quarter, compared to analysts’ expectations of $202.21 million. Vertex had a net margin of 0.45% and a return on equity of 29.00%. The company’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.15 earnings per share. Equities analysts predict that Vertex will post 0.58 earnings per share for the current year.
Hedge Funds Weigh In On Vertex
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Vertex during the 1st quarter valued at about $37,796,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Vertex by 1,906.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 935,668 shares of the company’s stock worth $11,125,000 after purchasing an additional 889,042 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of Vertex in the 1st quarter worth approximately $4,836,000. Renaissance Technologies LLC lifted its stake in Vertex by 8.1% during the first quarter. Renaissance Technologies LLC now owns 290,500 shares of the company’s stock valued at $3,454,000 after purchasing an additional 21,700 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its stake in Vertex by 35.6% during the first quarter. Y Intercept Hong Kong Ltd now owns 256,289 shares of the company’s stock valued at $3,047,000 after purchasing an additional 67,270 shares during the last quarter. 70.32% of the stock is owned by institutional investors.
About Vertex
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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