Vertex (NASDAQ:VERX – Get Rating) had its price target raised by The Goldman Sachs Group from $21.00 to $24.00 in a research report sent to investors on Thursday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.
Several other analysts also recently weighed in on the stock. JMP Securities restated a market outperform rating and set a $28.00 price objective on shares of Vertex in a research report on Thursday. Needham & Company LLC raised their price objective on Vertex from $19.00 to $25.00 and gave the stock a buy rating in a report on Thursday. Morgan Stanley raised their price target on Vertex from $10.00 to $12.00 and gave the stock an underweight rating in a research note on Monday, December 19th. Jefferies Financial Group cut Vertex from a buy rating to a hold rating and boosted their price objective for the company from $13.50 to $15.00 in a research note on Thursday, January 5th. Finally, Raymond James raised their target price on shares of Vertex from $19.00 to $22.00 and gave the stock an outperform rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $20.11.
Get Vertex alerts:Vertex Trading Down 0.9 %
NASDAQ VERX opened at $17.88 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a 50 day simple moving average of $14.29 and a 200-day simple moving average of $14.94. Vertex has a one year low of $9.44 and a one year high of $19.31.
Insider Buying and Selling at Vertex
In other Vertex news, CAO Lisa Butler sold 22,894 shares of the company's stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $16.42, for a total transaction of $375,919.48. Following the completion of the transaction, the chief accounting officer now owns 250 shares in the company, valued at approximately $4,105. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Vertex news, CAO Lisa Butler sold 22,894 shares of the business's stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $16.42, for a total transaction of $375,919.48. Following the transaction, the chief accounting officer now owns 250 shares in the company, valued at approximately $4,105. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Destefano sold 9,631 shares of the stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $16.05, for a total value of $154,577.55. Following the transaction, the chief executive officer now directly owns 306,749 shares of the company's stock, valued at $4,923,321.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 280,591 shares of company stock valued at $4,682,831. 46.12% of the stock is owned by company insiders.
Hedge Funds Weigh In On Vertex
Institutional investors and hedge funds have recently made changes to their positions in the stock. State of Wyoming purchased a new stake in Vertex during the fourth quarter worth about $49,000. Lazard Asset Management LLC acquired a new stake in shares of Vertex during the 4th quarter valued at approximately $46,000. Laurion Capital Management LP purchased a new stake in shares of Vertex during the 4th quarter worth approximately $1,088,000. Legal & General Group Plc grew its holdings in shares of Vertex by 14.3% in the 4th quarter. Legal & General Group Plc now owns 12,633 shares of the company's stock worth $183,000 after acquiring an additional 1,579 shares during the period. Finally, Norges Bank purchased a new position in Vertex in the 4th quarter valued at approximately $590,000. 21.53% of the stock is owned by institutional investors and hedge funds.
About Vertex
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Vertex, Inc provides tax technology solutions for corporations in retail, communication, leasing, and manufacturing industries in the United States and internationally. It offers tax determination, compliance and reporting, tax data management, document management, pre-built integration, and industry-specific solutions.
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