Robert W. Baird Issues Positive Forecast for Vertex (NASDAQ:VERX) Stock Price

Vertex (NASDAQ:VERX) had its price objective hoisted by Robert W. Baird from $43.00 to $57.00 in a report released on Thursday,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research analysts also recently commented on VERX. JMP Securities increased their price objective on shares of Vertex from $47.00 to $61.00 and gave the company a “market outperform” rating in a report on Thursday. Baird R W upgraded Vertex to a “strong-buy” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group boosted their target price on Vertex from $42.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday. BMO Capital Markets lifted their price objective on shares of Vertex from $42.00 to $52.00 and gave the stock a “market perform” rating in a research note on Thursday. Finally, Jefferies Financial Group raised Vertex from a “hold” rating to a “buy” rating and upped their target price 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, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.27.

Vertex Stock Up 1.3 %

NASDAQ VERX traded up $0.66 during trading hours on Thursday, reaching $51.99. 1,737,449 shares of the company’s stock traded hands, compared to its average volume of 775,053. Vertex has a 52-week low of $22.63 and a 52-week high of $52.93. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a 50-day simple moving average of $39.88 and a 200 day simple moving average of $36.45. The firm has a market cap of $8.09 billion, a PE ratio of 285.17, a PEG ratio of 14.22 and a beta of 0.67.

Vertex (NASDAQ:VERX) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The company had revenue of $161.10 million during the quarter, compared to analyst estimates of $160.66 million. Vertex had a net margin of 4.73% and a return on equity of 25.27%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.04 EPS. Sell-side analysts anticipate that Vertex will post 0.34 EPS for the current fiscal year.

Insider Transactions at Vertex

In other Vertex news, insider Item Second Irr. Trust Fbo Jac sold 56,419 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $40.77, for a total transaction of $2,300,202.63. Following the sale, the insider now owns 932,706 shares of the company’s stock, valued at approximately $38,026,423.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Vertex news, Director John Richard Stamm sold 16,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $35.95, for a total value of $575,200.00. Following the completion of the transaction, the director now owns 21,635 shares of the company’s stock, valued at approximately $777,778.25. 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 accessible through the SEC website. Also, insider Item Second Irr. Trust Fbo Jac sold 56,419 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $40.77, for a total transaction of $2,300,202.63. Following the transaction, the insider now directly owns 932,706 shares in the company, valued at approximately $38,026,423.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,629,244 shares of company stock valued at $64,039,589. 44.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vertex

A number of institutional investors have recently made changes to their positions in VERX. Verdence Capital Advisors LLC increased its position in shares of Vertex by 6.1% during the third quarter. Verdence Capital Advisors LLC now owns 8,313 shares of the company’s stock worth $320,000 after acquiring an additional 477 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in Vertex by 1.2% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 51,624 shares of the company’s stock worth $1,640,000 after purchasing an additional 589 shares during the period. KBC Group NV grew its position in shares of Vertex by 46.1% during the third quarter. KBC Group NV now owns 2,099 shares of the company’s stock worth $81,000 after buying an additional 662 shares in the last quarter. Ellsworth Advisors LLC increased its stake in shares of Vertex by 4.4% during the third quarter. Ellsworth Advisors LLC now owns 16,707 shares of the company’s stock worth $643,000 after buying an additional 697 shares during the period. Finally, Blue Trust Inc. acquired a new stake in Vertex in the second quarter valued at approximately $28,000. 59.10% of the stock is currently owned by institutional investors and hedge funds.

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.