Shares of Vertex, Inc. (NASDAQ:VERX) earned a consensus recommendation of “Hold” from the seven brokerages that currently cover the company, MarketBeat reports. Three research analysts rated the stock with a sell rating, one issued a hold rating and two issued a buy rating on the company. The 1-year average price target among brokers who have rated the stock in the past year is $22.80.
Several brokerages have recently commented on VERX. Zacks Investment Research upgraded Vertex from a “buy” to a “hold” rating in a Saturday, November 20 research report. Bank of America downgraded Vertex from a “neutral” rating to an “underperforming” rating and lowered its price target for the company from $24.00 to $20.00 in a Monday, October 4, report.
Shares of VERX opened at $13.76 on Monday. The stock has a market capitalization of $2.05 billion, a P/E ratio of -1,376.00 and a beta of 0.82. Vertex has a one-year low of $12.64 and a one-year high of $39.71. The stock has a fifty-day moving average price of $16.36 and a 200-day moving average price of $18.46.
Vertex Inc (NASDAQ:VERX) last reported results on Wednesday, November 10. The company reported EPS of $0.08 for the quarter, beating the consensus estimate of $0.05 by $0.03. The company posted revenue of $110.72 million in the quarter, compared to $104.92 million expected by analysts. Vertex had a positive return on equity of 12.37% and a negative net margin of 0.15%. During the same period last year, the company made ($0.31) earnings per share. Research analysts expect Vertex to post an EPS of 0.18 for the current fiscal year.
In related news, General Counsel Bryan TR Rowland sold 20,602 Vertex shares in a trade dated Thursday, November 18. The stock was sold at an average price of $20.47, for a total value of $421,722.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Additionally, director John Richard Stamm sold 12,000 Vertex shares in a trade dated Friday, December 3. The shares were sold at an average price of $16.88, for a total value of $202,560.00. The disclosure of this sale can be found here. Insiders sold a total of 832,602 shares of the company worth $12,304,283 in the past 90 days. 67.26% of the shares are held by company insiders.
Institutional investors have recently increased or reduced their stake in the stock. UBS Group AG increased its equity stake in Vertex to 469.9% in the third quarter. UBS Group AG now owns 2,724 shares of the company valued at $52,000 after buying an additional 2,246 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Vertex in the third quarter worth approximately $207,000. LPL Financial LLC bought a new position in shares of Vertex in the third quarter worth approximately $224,000. Advisor Group Holdings Inc. increased its stake in Vertex by 37.2% during the third quarter. Advisor Group Holdings Inc. now owns 14,111 shares of the company worth $272,000 after buying 3,827 additional shares in the last quarter. Finally, M&T Bank Corp bought a new stake in Vertex during the 2nd quarter for a value of approximately $294,000. 17.10% of the shares are held by institutional investors and hedge funds.
Vertex Company Profile
Vertex, Inc provides tax technology solutions to companies in the retail, communications, rental, and manufacturing industries in the United States and around the world. It offers tax determination, compliance and reporting, tax data management, document management, prebuilt integration, and industry-specific solutions.
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