FY2024 Earnings Estimate for Vertex Issued By DA Davidson

Vertex, Inc. (NASDAQ:VERX) – Equities research analysts at DA Davidson issued their FY2024 earnings per share (EPS) estimates for shares of Vertex in a research note issued to investors on Tuesday, December 31st. DA Davidson analyst W. Jellison expects that the company will earn $0.38 per share for the year. DA Davidson currently has a “Buy” rating and a $62.00 target price on the stock. The consensus estimate for Vertex’s current full-year earnings is $0.38 per share. DA Davidson also issued estimates for Vertex’s Q4 2024 earnings at $0.09 EPS and FY2025 earnings at $0.49 EPS.

Vertex (NASDAQ:VERX) last posted its earnings results on Wednesday, November 6th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The company had revenue of $170.40 million during the quarter, compared to analysts’ expectations of $165.70 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. Vertex’s revenue for the quarter was up 17.5% compared to the same quarter last year.

Several other equities research analysts have also weighed in on VERX. Stifel Nicolaus raised their target price on Vertex from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Jefferies Financial Group raised shares of Vertex from a “hold” rating to a “buy” rating and raised their target price for the company from $35.00 to $50.00 in a research note on Monday, November 4th. BMO Capital Markets increased their price target on Vertex from $42.00 to $52.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Raymond James restated a “market perform” rating on shares of Vertex in a research report on Friday. Finally, Citigroup upped their price target on Vertex from $46.00 to $54.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.36.

Vertex Trading Down 3.5 %

Shares of Vertex stock opened at $51.32 on Friday. The firm has a 50-day simple moving average of $51.64 and a two-hundred day simple moving average of $42.49. Vertex has a fifty-two week low of $23.31 and a fifty-two week high of $57.74. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $8.00 billion, a P/E ratio of 285.11, a price-to-earnings-growth ratio of 9.83 and a beta of 0.77.

Institutional Investors Weigh In On Vertex

A number of hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC purchased a new position in Vertex in the second quarter worth $37,000. Advisors Asset Management Inc. boosted its position in Vertex by 126.2% during the third quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock worth $37,000 after purchasing an additional 540 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Vertex during the 2nd quarter valued at approximately $40,000. Amalgamated Bank purchased a new position in Vertex in the 2nd quarter valued at approximately $68,000. Finally, Blue Trust Inc. boosted its holdings in shares of Vertex by 191.1% in the third quarter. Blue Trust Inc. now owns 2,259 shares of the company’s stock worth $81,000 after acquiring an additional 1,483 shares during the period. 70.32% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Item Second Irr. Trust Fbo Kyl sold 13,346 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $55.13, for a total transaction of $735,764.98. Following the sale, the insider now directly owns 1,344,754 shares in the company, valued at approximately $74,136,288.02. The trade was a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Jeffrey Westphal sold 2,485,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $48.90, for a total transaction of $121,516,500.00. Following the completion of the sale, the insider now directly owns 7,895 shares in the company, valued at approximately $386,065.50. This represents a 99.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,782,563 shares of company stock valued at $187,627,746 over the last ninety days. 44.58% of the stock is currently owned by company 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.