Fintel reports that on September 18, 2023, Morgan Stanley reiterated coverage of Vertex Inc (NASDAQ:VERX) with a Overweight recommendation.
Analyst Price Forecast Suggests 15.85% Upside
As of August 31, 2023, the average one-year price target for Vertex Inc is 23.97. The forecasts range from a low of 20.20 to a high of $29.40. The average price target represents an increase of 15.85% from its latest reported closing price of 20.69.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Vertex Inc is 557MM, an increase of 5.08%. The projected annual non-GAAP EPS is 0.36.
What is the Fund Sentiment?
There are 235 funds or institutions reporting positions in Vertex Inc. This is a decrease of 5 owner(s) or 2.08% in the last quarter. Average portfolio weight of all funds dedicated to VERX is 0.27%, an increase of 4.05%. Total shares owned by institutions increased in the last three months by 9.33% to 53,918K shares. 
The put/call ratio of VERX is 0.49, indicating a bullish outlook.
What are Other Shareholders Doing?
Tensile Capital Management holds 5,867K shares representing 3.86% ownership of the company. In it's prior filing, the firm reported owning 5,970K shares, representing a decrease of 1.76%. The firm decreased its portfolio allocation in VERX by 11.76% over the last quarter.
Fred Alger Management holds 4,247K shares representing 2.79% ownership of the company. In it's prior filing, the firm reported owning 3,662K shares, representing an increase of 13.78%. The firm increased its portfolio allocation in VERX by 11.13% over the last quarter.
Neuberger Berman Group holds 3,732K shares representing 2.45% ownership of the company. In it's prior filing, the firm reported owning 3,846K shares, representing a decrease of 3.06%. The firm increased its portfolio allocation in VERX by 72.68% over the last quarter.
Conestoga Capital Advisors holds 2,826K shares representing 1.86% ownership of the company. In it's prior filing, the firm reported owning 2,907K shares, representing a decrease of 2.86%. The firm decreased its portfolio allocation in VERX by 13.14% over the last quarter.
Wsfs Capital Management holds 2,589K shares representing 1.70% ownership of the company.
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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This story originally appeared on Fintel.
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