Vertex, Inc. (NASDAQ:VERX – Get Rating) has earned a consensus recommendation of “Hold” from the eight brokerages that cover the stock, Marketbeat.com reports. Two equity research analysts rated the stock with a sell rating, one assigned a hold rating and four issued a buy rating on the company. The 12-month average target price among brokers who have issued ratings on the stock over the past year is $20.42.
A number of research analysts have commented on the company. Zacks Investment Research downgraded Vertex from a “hold” rating to a “sell” rating in a Wednesday, May 11 research report. Needham & Company LLC lowered its price target on Vertex from $30.00 to $19.00 and set a “buy” rating for the company in a Thursday, March 10 research report. JMP Securities lowered its price target on Vertex from $36.00 to $28.00 and set a “market outperformance” rating for the company in a Thursday, March 10 research report. Finally, Jefferies Financial Group lowered its price target on Vertex from $14.50 to $13.50 in a Monday, May 23 research report.
The NASDAQ VERX opened at $11.27 on Friday. Vertex has a 1-year low of $9.81 and a 1-year high of $22.88. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt ratio of 0.21. The stock has a 50-day moving average of $13.53 and a 200-day moving average of $14.66. The company has a market capitalization of $1.68 billion, a PE ratio of -563.50, a growth price-earnings ratio of 39.87 and a beta of 0.85.
Vertex (NASDAQ:VERX – Get Rating) last released its results on Tuesday, May 10. The company reported earnings per share of $0.08 for the quarter, beating consensus analyst estimates of $0.07 by $0.01. Vertex had a positive return on equity of 12.70% and a negative net margin of 0.93%. The company posted revenue of $115.00 million in the quarter, versus analyst estimates of $113.03 million. In the same quarter a year earlier, the company posted EPS of $0.04. Vertex revenue for the quarter increased 17.1% year over year. As a group, equity research analysts expect Vertex to post 0.12 earnings per share for the current fiscal year.
Major investors have recently changed their positions in the company. Conestoga Capital Advisors LLC increased its stake in Vertex shares by 24.9% in Q4. Conestoga Capital Advisors LLC now owns 3,336,745 shares of the company worth $52,954,000 after purchasing an additional 664,495 shares in the last quarter. Palisade Capital Management LLC NJ purchased a new equity stake in Vertex in Q4 for approximately $8,384,000. TimesSquare Capital Management LLC increased its stake in Vertex shares by 26.6% in Q1. TimesSquare Capital Management LLC now owns 1,321,104 shares of the company worth $20,266,000 after purchasing an additional 277,200 shares in the last quarter. Washington Harbor Partners LP bought a new equity stake in Vertex in Q4 for a value of approximately $4,311,000. Finally, Comerica Bank increased its stake in Vertex shares by 112.3% in the third quarter. Comerica Bank now owns 487,325 shares of the company worth $9,526,000 after purchasing an additional 257,825 shares in the last quarter. 19.79% of the shares are held by hedge funds and other institutional investors.
Vertex Company Profile (Get a rating)
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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