Vertex Inc. [VERX] is 0.26% higher this YTD. Is it still time to buy?

Vertex Inc. [NASDAQ: VERX] traded at a high on 01/15/21, posting a 6.23 gain after which it closed the day’ session at $34.94. The company report on November 11, 2020 that Vertex Announces Third Quarter 2020 Financial Results.

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Vertex, Inc. (Nasdaq: VERX) (“Vertex” or the “Company”), a leading provider of tax technology and services, announced financial results for its third quarter ended September 30, 2020.

“Vertex delivered strong third quarter results across many of our key metrics,” said David DeStefano, Chief Executive Officer. “As digital transformation continues to accelerate, so does the scale and complexity of our customers’ tax operations supporting these initiatives. We experienced solid revenue growth and accelerated cloud adoption among new and existing customers. Our strong financial results underscore the value that Vertex brings to our customers every day, and the confidence in our solutions to help them meet the challenges ahead. Despite economic uncertainties, we continue to accelerate investments to pursue growth opportunities, while still delivering strong financial performance.”.

The results of the trading session contributed to over 507179 shares changing hands. Over the past one week, the price volatility of Vertex Inc. stands at 7.50% while the volatility over the past one month is 7.19%.

The market cap for VERX stock reached $4.81 billion, with 146.11 million shares outstanding and 24.81 million shares in the current float. Compared to the average trading volume of 326.38K shares, VERX reached a trading volume of 507179 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Vertex Inc. [VERX]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for VERX shares is $30.63 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on VERX stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

William Blair have made an estimate for Vertex Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 24, 2020. While these analysts kept the previous recommendation, Stifel raised their target price to Buy. The new note on the price target was released on August 24, 2020, representing the official price target for Vertex Inc. stock. Previously, the target price had yet another raise to $23, while Morgan Stanley analysts kept a Equal-Weight rating on VERX stock.

The Average True Range (ATR) for Vertex Inc. is set at 2.12, with the Price to Sales ratio for VERX stock in the period of the last 12 months amounting to 13.30. The Price to Book ratio for the last quarter was 23.29, with the Price to Cash per share for the same quarter was set at 1.97.

How has VERX stock performed recently?

Vertex Inc. [VERX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.91.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for VERX stock in for the last two-week period is set at 61.94, with the RSI for the last a single of trading hit 63.43, and the three-weeks RSI is set at 61.43 for Vertex Inc. [VERX]. The present Moving Average for the last 50 days of trading for this stock 29.18, while it was recorded at 32.37 for the last single week of trading.

Vertex Inc. [VERX]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Vertex Inc. [VERX] shares currently have an operating margin of +9.91 and a Gross Margin at +62.87. Vertex Inc.’s Net Margin is presently recorded at +9.66.

Reflecting on the efficiency of the workforce at the company, Vertex Inc. [VERX] managed to generate an average of $28,234 per employee. Receivables Turnover for the company is 4.85 with a Total Asset Turnover recorded at a value of 1.34.Vertex Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.40.

Insider trade positions for Vertex Inc. [VERX]

There are presently around $868 million, in the hands of institutional investors. The top three institutional holders of VERX stocks are: VIKING GLOBAL INVESTORS LP with ownership of 2,031,639, which is approximately New of the company’s market cap and around 4.00% of the total institutional ownership; FRED ALGER MANAGEMENT, LLC, holding 1,905,300 shares of the stock with an approximate value of $66.57 million in VERX stocks shares; and WELLS FARGO & COMPANY/MN, currently with $63.25 million in VERX stock with ownership of nearly New of the company’s market capitalization.

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Positions in Vertex Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 89 institutional holders increased their position in Vertex Inc. [NASDAQ:VERX] by around 24,836,579 shares. Additionally, 0 investors decreased positions by around 0 shares, while 1 investors held positions by with 459 shares. The mentioned changes placed institutional holdings at 24,837,038 shares, according to the latest SEC report filing. VERX stock had 88 new institutional investments in for a total of 24,836,562 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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