Fintel reports that on December 31, 2024, DA Davidson initiated coverage of Vertex (NasdaqGM:VERX) with a Buy recommendation.
Analyst Price Forecast Suggests 8.90% Upside
As of December 23, 2024, the average one-year price target for Vertex is $57.77/share. The forecasts range from a low of $50.50 to a high of $65.10. The average price target represents an increase of 8.90% from its latest reported closing price of $53.05 / share.
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The projected annual revenue for Vertex is 634MM, a decrease of 1.38%. The projected annual non-GAAP EPS is 0.48.
What is the Fund Sentiment?
There are 476 funds or institutions reporting positions in Vertex. This is an increase of 82 owner(s) or 20.81% in the last quarter. Average portfolio weight of all funds dedicated to VERX is 0.33%, an increase of 16.92%. Total shares owned by institutions increased in the last three months by 4.28% to 88,310K shares. 
The put/call ratio of VERX is 0.11, indicating a bullish outlook.
What are Other Shareholders Doing?
Tensile Capital Management holds 4,054K shares representing 6.14% ownership of the company. In its prior filing, the firm reported owning 4,634K shares , representing a decrease of 14.31%. The firm decreased its portfolio allocation in VERX by 8.37% over the last quarter.
Neuberger Berman Group holds 3,474K shares representing 5.27% ownership of the company. In its prior filing, the firm reported owning 3,488K shares , representing a decrease of 0.41%. The firm increased its portfolio allocation in VERX by 1.02% over the last quarter.
Fred Alger Management holds 2,544K shares representing 3.86% ownership of the company. In its prior filing, the firm reported owning 4,088K shares , representing a decrease of 60.68%. The firm decreased its portfolio allocation in VERX by 38.13% over the last quarter.
NBGNX - Neuberger Berman Genesis Fund Investor Class holds 2,297K shares representing 3.48% ownership of the company. In its prior filing, the firm reported owning 2,324K shares , representing a decrease of 1.18%. The firm increased its portfolio allocation in VERX by 10.52% over the last quarter.
Conestoga Capital Advisors holds 2,280K shares representing 3.46% ownership of the company. In its prior filing, the firm reported owning 2,806K shares , representing a decrease of 23.05%. The firm decreased its portfolio allocation in VERX by 21.43% over the last quarter.
Vertex Background Information
(This description is provided by the company.)
Vertex, Inc. is a leading global provider of indirect tax software and solutions. The company’s mission is to deliver the most trusted tax technology enabling global businesses to transact, comply and grow with confidence. Vertex provides cloud-based and on-premise solutions that can be tailored to specific industries for major lines of indirect tax, including sales and consumer use, value added and payroll. Headquartered in North America, and with offices in South America and Europe, Vertex employs over 1,200 professionals and serves companies across the globe.
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