Vertex’s (VERX) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Vertex (NASDAQ:VERX) in a research report sent to investors on Monday, Benzinga reports. They currently have a $45.00 price objective on the stock.

Several other equities research analysts have also commented on the stock. The Goldman Sachs Group upped their price target on shares of Vertex from $33.00 to $39.00 and gave the company a buy rating in a report on Friday, March 1st. BMO Capital Markets lifted their price target on Vertex from $30.00 to $35.00 and gave the company a market perform rating in a research report on Friday, March 1st. Bank of America lowered their price objective on Vertex from $40.00 to $34.00 and set a neutral rating on the stock in a research report on Tuesday, April 23rd. JMP Securities reaffirmed a market outperform rating and set a $42.00 price objective on shares of Vertex in a research note on Tuesday, April 23rd. Finally, Jefferies Financial Group boosted their target price on shares of Vertex from $27.00 to $35.00 and gave the company a hold rating in a research note on Friday, March 1st. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Vertex presently has a consensus rating of Moderate Buy and an average target price of $35.67.

Vertex Trading Up 2.0 %

NASDAQ:VERX opened at $30.53 on Monday. The firm has a 50-day simple moving average of $30.29 and a 200-day simple moving average of $27.43. Vertex has a one year low of $17.59 and a one year high of $35.38. The firm has a market cap of $4.71 billion, a P/E ratio of -305.30, a P/E/G ratio of 7.54 and a beta of 0.65. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.60 and a current ratio of 0.60.

Vertex (NASDAQ:VERX) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. Vertex had a positive return on equity of 16.15% and a negative net margin of 2.29%. The firm had revenue of $154.91 million during the quarter, compared to analyst estimates of $146.44 million. Equities analysts anticipate that Vertex will post 0.36 EPS for the current fiscal year.

Insider Activity

In related news, Director John Richard Stamm sold 6,500 shares of Vertex stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.48, for a total value of $191,620.00. Following the sale, the director now owns 15,930 shares of the company’s stock, valued at approximately $469,616.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director John Richard Stamm sold 6,500 shares of Vertex stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.48, for a total value of $191,620.00. Following the sale, the director now directly owns 15,930 shares in the company, valued at approximately $469,616.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lisa Butler sold 8,290 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $29.63, for a total value of $245,632.70. Following the sale, the chief accounting officer now owns 250 shares of the company’s stock, valued at $7,407.50. The disclosure for this sale can be found here. Insiders have sold 1,161,048 shares of company stock worth $35,034,678 in the last quarter. Corporate insiders own 45.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in Vertex during the 3rd quarter worth $49,000. RiverPark Advisors LLC acquired a new stake in shares of Vertex in the third quarter valued at about $60,000. Tower Research Capital LLC TRC purchased a new position in shares of Vertex in the fourth quarter worth about $72,000. SG Americas Securities LLC acquired a new position in Vertex during the first quarter worth about $166,000. Finally, F M Investments LLC purchased a new stake in Vertex during the 1st quarter valued at about $209,000. 59.10% of the stock is owned by institutional investors and hedge funds.

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.