Vertex (NASDAQ:VERX) to Buyback $150.00 million in Shares

Vertex (NASDAQ:VERX) announced that its Board of Directors has authorized a share buyback plan on Monday, November 3rd, RTT News reports. The company plans to repurchase $150.00 million in shares. This repurchase authorization allows the company to repurchase up to 4.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Vertex Stock Up 0.9%

Shares of NASDAQ:VERX opened at $20.08 on Thursday. The firm has a 50 day simple moving average of $24.59 and a 200 day simple moving average of $31.42. Vertex has a 52 week low of $19.21 and a 52 week high of $60.71. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.99 and a current ratio of 1.01. The company has a market cap of $3.20 billion, a PE ratio of -57.37, a price-to-earnings-growth ratio of 4.05 and a beta of 0.64.

Vertex (NASDAQ:VERX) last released its earnings results on Monday, November 3rd. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. Vertex had a positive return on equity of 26.84% and a negative net margin of 7.32%.The company had revenue of $192.11 million for the quarter, compared to analysts’ expectations of $191.62 million. During the same quarter in the previous year, the business posted $0.16 EPS. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. Vertex has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, research analysts expect that Vertex will post 0.38 earnings per share for the current year.

Analysts Set New Price Targets

VERX has been the topic of several recent research reports. Bank of America dropped their target price on shares of Vertex from $42.00 to $34.00 and set a “neutral” rating on the stock in a report on Friday, August 8th. Citizens Jmp decreased their price target on shares of Vertex from $50.00 to $37.00 and set a “market outperform” rating on the stock in a research report on Tuesday. BMO Capital Markets dropped their price target on Vertex from $30.00 to $24.00 and set a “market perform” rating on the stock in a report on Tuesday. Citigroup downgraded Vertex from a “market outperform” rating to a “hold” rating in a research report on Tuesday. Finally, DA Davidson decreased their target price on Vertex from $29.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday. Twelve investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Vertex presently has an average rating of “Moderate Buy” and a consensus price target of $32.60.

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.