Vertex (VERX) to Release Earnings on Wednesday

Vertex (NASDAQ:VERX) is set to release its earnings data before the market opens on Wednesday, November 6th. Analysts expect Vertex to post earnings of $0.14 per share for the quarter. Vertex has set its FY 2024 guidance at EPS and its Q3 2024 guidance at EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Vertex (NASDAQ:VERX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02. The business had revenue of $161.10 million for the quarter, compared to analyst estimates of $160.66 million. Vertex had a net margin of 3.20% and a return on equity of 22.32%. Vertex’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 earnings per share. On average, analysts expect Vertex to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Vertex Stock Performance

VERX stock opened at $42.23 on Tuesday. The stock’s 50 day simple moving average is $39.26 and its 200 day simple moving average is $36.14. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.43. Vertex has a 12-month low of $21.92 and a 12-month high of $43.75. The stock has a market capitalization of $6.57 billion, a PE ratio of 351.92, a price-to-earnings-growth ratio of 12.05 and a beta of 0.67.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on VERX. Robert W. Baird began coverage on shares of Vertex in a report on Tuesday, July 23rd. They set an “outperform” rating and a $43.00 price objective for the company. Baird R W upgraded Vertex to a “strong-buy” rating in a report on Tuesday, July 23rd. JMP Securities upped their target price on Vertex from $42.00 to $47.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 31st. Finally, Jefferies Financial Group upgraded Vertex from a “hold” rating to a “buy” rating and lifted their price objective for the company from $35.00 to $50.00 in a research note on Monday. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.80.

Insider Activity at Vertex

In other Vertex news, major shareholder Item Second Irr. Trust Fbo Kyl sold 158,900 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $37.27, for a total value of $5,922,203.00. Following the completion of the sale, the insider now directly owns 1,430,100 shares in the company, valued at $53,299,827. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Item Second Irr. Trust Fbo Kyl sold 158,900 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $37.27, for a total transaction of $5,922,203.00. Following the completion of the transaction, the insider now directly owns 1,430,100 shares in the company, valued at $53,299,827. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO John R. Schwab sold 25,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $35.81, for a total transaction of $895,250.00. Following the completion of the transaction, the chief financial officer now owns 53,104 shares of the company’s stock, valued at approximately $1,901,654.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,629,244 shares of company stock valued at $64,039,589. 44.58% of the stock is owned by insiders.

About Vertex

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.