Vertex (VERX) to Release Earnings on Thursday

Vertex (NASDAQ:VERX) is expected to be posting its quarterly earnings results before the market opens on Thursday, February 27th. Analysts expect Vertex to post earnings of $0.13 per share and revenue of $176.90 million for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Vertex Stock Down 1.3 %

Shares of Vertex stock opened at $43.64 on Tuesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04. Vertex has a 1 year low of $24.70 and a 1 year high of $60.71. The firm’s 50-day moving average is $53.33 and its two-hundred day moving average is $46.81. The stock has a market cap of $6.81 billion, a price-to-earnings ratio of 242.44, a PEG ratio of 6.66 and a beta of 0.78.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. JMP Securities reiterated a “market outperform” rating and set a $61.00 target price on shares of Vertex in a report on Monday, December 9th. The Goldman Sachs Group increased their target price on shares of Vertex from $42.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC increased their target price on shares of Vertex from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Raymond James reissued a “market perform” rating on shares of Vertex in a research report on Friday, January 3rd. Finally, DA Davidson started coverage on shares of Vertex in a research report on Tuesday, December 31st. They set a “buy” rating and a $62.00 price target for the company. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.36.

Insider Activity at Vertex

In related news, major shareholder Item Second Irr. Trust Fbo Kyl sold 13,346 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $55.13, for a total value of $735,764.98. Following the completion of the transaction, the insider now directly owns 1,344,754 shares of the company’s stock, valued at $74,136,288.02. This trade represents a 0.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Destefano sold 216,268 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $55.04, for a total transaction of $11,903,390.72. Following the completion of the transaction, the chief executive officer now directly owns 293,345 shares of the company’s stock, valued at $16,145,708.80. The trade was a 42.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 858,457 shares of company stock valued at $46,160,958 in the last three months. 44.58% of the stock is owned by insiders.

Vertex Company Profile

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.