FY2024 Earnings Forecast 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 report issued on Tuesday, December 31st. DA Davidson analyst W. Jellison forecasts that the company will post earnings per share of $0.38 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 announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.16 earnings per share for the quarter, topping 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 analyst estimates of $165.70 million. During the same period in the previous year, the business earned $0.06 EPS. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis.

Several other equities research analysts have also commented on VERX. JMP Securities reaffirmed a “market outperform” rating and set a $61.00 price target on shares of Vertex in a research report on Monday, December 9th. Morgan Stanley raised their target price on shares of Vertex from $50.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Stifel Nicolaus increased their price objective on shares of Vertex from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. BMO Capital Markets increased their price target on Vertex from $42.00 to $52.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Finally, Citigroup lifted their target price on Vertex from $46.00 to $54.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.36.

Vertex Stock Performance

Shares of VERX opened at $51.32 on Friday. Vertex has a one year low of $23.31 and a one year high of $57.74. The business has a fifty day moving average of $51.64 and a 200 day moving average of $42.49. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $8.00 billion, a P/E ratio of 285.11, a PEG ratio of 9.83 and a beta of 0.77.

Insider Buying and Selling

In other Vertex news, General Counsel Bryan T.R. Rowland sold 3,020 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $55.08, for a total transaction of $166,341.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John Richard Stamm sold 2,500 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $53.81, for a total value of $134,525.00. Following the completion of the transaction, the director now directly owns 15,535 shares of the company’s stock, valued at approximately $835,938.35. The trade was a 13.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,782,563 shares of company stock valued at $187,627,746. Insiders own 44.58% of the company’s stock.

Institutional Investors Weigh In On Vertex

A number of institutional investors and hedge funds have recently modified their holdings of VERX. Lord Abbett & CO. LLC lifted its position in shares of Vertex by 29.4% during the 3rd quarter. Lord Abbett & CO. LLC now owns 933,034 shares of the company’s stock valued at $35,932,000 after buying an additional 211,896 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Vertex by 17.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,690,045 shares of the company’s stock worth $69,444,000 after acquiring an additional 253,263 shares during the last quarter. Neo Ivy Capital Management purchased a new position in Vertex during the third quarter worth about $2,354,000. Geode Capital Management LLC lifted its stake in shares of Vertex by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,275,283 shares of the company’s stock valued at $49,121,000 after purchasing an additional 37,592 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of Vertex by 5.4% during the 3rd quarter. Barclays PLC now owns 582,273 shares of the company’s stock worth $22,424,000 after purchasing an additional 29,700 shares during the period. Institutional investors and hedge funds own 70.32% of the company’s stock.

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.