Vertex, Inc. (NASDAQ:VERX) Stock Has Consensus Target Price of $17.43

Shares of Vertex, Inc. (NASDAQ:VERX) have earned an average rating of “Hold” from the fifteen analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $17.43.

VERX has been the topic of several research reports. BMO Capital Markets increased their target price on Vertex from $14.00 to $15.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 4th. Needham & Company LLC reaffirmed a “buy” rating on shares of Vertex in a research report on Monday, June 8th. Robert W. Baird cut their price target on shares of Vertex from $19.00 to $17.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 4th. 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 report on Tuesday, July 21st. Finally, Weiss Ratings raised shares of Vertex from a “sell (e+)” rating to a “sell (d)” rating in a research note on Wednesday, August 5th.

Institutional Investors Weigh In On Vertex

A number of hedge funds have recently added to or reduced their stakes in VERX. Whetstone Capital Advisors LLC purchased a new position in Vertex in the 2nd quarter valued at approximately $1,563,000. Engineers Gate Manager LP grew its stake in shares of Vertex by 152.3% in the second quarter. Engineers Gate Manager LP now owns 88,318 shares of the company’s stock worth $1,014,000 after acquiring an additional 53,319 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Vertex in the second quarter worth $938,000. Allianz Asset Management GmbH purchased a new stake in shares of Vertex during the second quarter worth $2,182,000. Finally, Corient Private Wealth LP purchased a new position in Vertex in the second quarter valued at $1,766,000. 70.32% of the stock is currently owned by institutional investors and hedge funds.

Vertex Stock Up 0.8%

Vertex stock opened at $11.15 on Friday. The company has a market capitalization of $1.81 billion, a PE ratio of 557.78 and a beta of 0.83. 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 has a fifty-two week low of $10.21 and a fifty-two week high of $26.54. The firm has a 50 day moving average price of $12.67 and a 200 day moving average price of $12.57.

Vertex (NASDAQ:VERX) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Vertex had a return on equity of 29.00% and a net margin of 0.45%.The company had revenue of $203.97 million for the quarter, compared to analysts’ expectations of $202.21 million. During the same period in the prior year, the firm earned $0.15 earnings per share. The firm’s revenue was up 10.5% compared to the same quarter last year. Research analysts expect that Vertex will post 0.54 earnings per share for the current year.

About Vertex

Vertex, Inc (NASDAQ:VERX) is a provider of tax technology solutions for businesses. The company develops cloud-based software designed to help organizations calculate, manage and comply with transaction tax obligations across complex jurisdictions and regulatory environments.

Vertex’s product portfolio includes solutions for indirect tax determination and compliance, including sales and use tax, value-added tax and other transaction taxes. Its offerings also support tax data management, tax returns, exemption certificate management, tax reporting and related workflows.