Vertex (VERX) Scheduled to Post Earnings on Wednesday

Vertex (NASDAQ:VERX) is scheduled to be releasing 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 that wish to listen to the company’s earnings conference call can do so using this link.

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

Vertex Stock Up 0.8 %

Shares of NASDAQ:VERX opened at $42.80 on Wednesday. The company has a quick ratio of 1.17, a current 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 $43.33. The firm has a market cap of $6.66 billion, a P/E ratio of 356.67, a P/E/G ratio of 12.02 and a beta of 0.68. The company’s 50-day moving average price is $38.67 and its two-hundred day moving average price is $35.71.

Insider Activity at Vertex

In related news, insider Item Second Irr. Trust Fbo Jac sold 52,713 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $41.02, for a total value of $2,162,287.26. Following the sale, the insider now directly owns 1,144,993 shares in the company, valued at $46,967,612.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Item Second Irr. Trust Fbo Jac sold 52,713 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $41.02, for a total transaction of $2,162,287.26. Following the completion of the sale, the insider now directly owns 1,144,993 shares of the company’s stock, valued at approximately $46,967,612.86. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Jeffrey Westphal sold 1,225,000 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $39.42, for a total value of $48,289,500.00. Following the sale, the insider now directly owns 7,895 shares of the company’s stock, valued at approximately $311,220.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,629,244 shares of company stock worth $64,039,589 in the last ninety days. Company insiders own 44.58% of the company’s stock.

Wall Street Analysts Forecast Growth

VERX has been the topic of a number of research reports. Baird R W upgraded shares of Vertex to a “strong-buy” rating in a research report on Tuesday, July 23rd. Robert W. Baird initiated coverage on shares of Vertex in a research report on Tuesday, July 23rd. They set an “outperform” rating and a $43.00 target price on the stock. Finally, JMP Securities upped their target price on shares of Vertex from $42.00 to $47.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.30.

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.