In yesterday’s Wall Street session, Vertex Inc. (NASDAQ:VERX) shares traded at $18.57, up 23.72% from the previous session.
As of this writing, 12 analysts cover Vertex Inc. (NASDAQ:VERX). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $28.00 and a low of $12.00, we find $20.00. Given the previous closing price of $15.01, this indicates a potential upside of 33.24 percent. VERX stock price is now 31.65% away from the 50-day moving average and 34.78% away from the 200-day moving average. The market capitalization of the company currently stands at $2.88B.
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There are 4 analysts who have given it a hold rating, whereas 6 have given it a buy rating. Brokers who have rated the stock have averaged $19.55 as their price target over the next twelve months.
With the price target of $19, Raymond James recently initiated with Outperform rating for Vertex Inc. (NASDAQ: VERX). On January 05, 2023, Jefferies Downgraded its previous ‘Buy’ rating to ‘Hold’ on the stock keeping its target price maintained at $15, while ‘Goldman’ rates the stock as ‘Buy’.
In other news, Butler Lisa, CHIEF ACCOUNTING OFFICER sold 763 shares of the company’s stock on Mar 06. The stock was sold for $11,666 at an average price of $15.29. Upon completion of the transaction, the CHIEF ACCOUNTING OFFICER now directly owns 3,144 shares in the company, valued at $58384.08. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 02, 10% Owner Westphal Jeffery sold 50,000 shares of the business’s stock. A total of $783,205 was realized by selling the stock at an average price of $15.66. This leaves the insider owning 8,916,693 shares of the company worth $165.58 million. Insiders disposed of 8,121,051 shares of company stock worth roughly $150.81 million over the past 1 year. A total of 2.80% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in VERX stock. A new stake in Vertex Inc. shares was purchased by INVESCO LTD. during the first quarter worth $5,010,000. PALOGIC VALUE MANAGEMENT, L.P. invested $4,384,000 in shares of VERX during the first quarter. In the first quarter, MARSHALL WACE, LLP acquired a new stake in Vertex Inc. valued at approximately $1,665,000. MONARCH PARTNERS ASSET MANAGEMENT LLC acquired a new stake in VERX for approximately $1,430,000. WASHINGTON HARBOUR PARTNERS LP purchased a new stake in VERX valued at around $1,313,000 in the second quarter. In total, there are 143 active investors with 70.40% ownership of the company’s stock.
Wednesday morning saw Vertex Inc. (NASDAQ: VERX) opened at $16.50. During the past 12 months, Vertex Inc. has had a low of $9.44 and a high of $19.30. As of last week, the company has a debt-to-equity ratio of 0.23, a current ratio of 0.60, and a quick ratio of 0.60. The fifty day moving average price for VERX is $14.11 and a two-hundred day moving average price translates $13.78 for the stock.
The latest earnings results from Vertex Inc. (NASDAQ: VERX) was released for Sep, 2022. According to the Software – Application Company, earnings per share came in at $0.08, beating analysts’ expectations of $0.06 by 0.02. This compares to -$0.03 EPS in the same period last year. The net profit margin was -1.60% and return on equity was -3.40% for VERX. The company reported revenue of $126.24 million for the quarter, compared to $110.72 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 14.02 percent. For the current quarter, analysts expect VERX to generate $125.96M in revenue.
Vertex Inc.(VERX) Company Profile
Vertex, Inc. provides tax technology solutions for corporations in retail, communication, leasing, and manufacturing industries in the United States and internationally. It offers tax determination, compliance and reporting, tax data management, document management, pre-built integration, and industry-specific solutions. The company sells its software products through software license and software as a service subscriptions. It also provides implementation and training services in connection with its software license and cloud subscriptions, transaction tax returns outsourcing, and other tax-related services. Vertex, Inc. was founded in 1978 and is headquartered in King of Prussia, Pennsylvania.
