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. The company sells its software products through software license and software as a service subscriptions. It also provides implementation and training services in connection with its software license and cloud subscriptions, transaction tax returns outsourcing, and other tax-related services. The company was founded in 1978 and is headquartered in King of Prussia, Pennsylvania.
IPO Year: 2020
Exchange: NASDAQ
Website: vertexinc.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 1/3/2025 | Outperform → Mkt Perform | Raymond James | |
| 12/31/2024 | $62.00 | Buy | DA Davidson |
| 11/4/2024 | $35.00 → $50.00 | Hold → Buy | Jefferies |
| 7/23/2024 | $43.00 | Outperform | Robert W. Baird |
| 3/1/2024 | $40.00 | Underperform → Neutral | BofA Securities |
| 9/18/2023 | $25.00 | Overweight | Morgan Stanley |
| 3/9/2023 | $16.00 → $20.00 | Underperform → Neutral | BofA Securities |
| 2/9/2023 | $19.00 | Outperform | Raymond James |
| 1/5/2023 | $15.00 | Buy → Hold | Jefferies |
| 10/21/2022 | $20.00 | Buy | Goldman |
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Raymond James downgraded Vertex from Outperform to Mkt Perform
DA Davidson initiated coverage of Vertex with a rating of Buy and set a new price target of $62.00
Jefferies upgraded Vertex from Hold to Buy and set a new price target of $50.00 from $35.00 previously
Robert W. Baird initiated coverage of Vertex with a rating of Outperform and set a new price target of $43.00
BofA Securities upgraded Vertex from Underperform to Neutral and set a new price target of $40.00
Morgan Stanley resumed coverage of Vertex with a rating of Overweight and set a new price target of $25.00
BofA Securities upgraded Vertex from Underperform to Neutral and set a new price target of $20.00 from $16.00 previously
Raymond James initiated coverage of Vertex with a rating of Outperform and set a new price target of $19.00
Jefferies downgraded Vertex from Buy to Hold and set a new price target of $15.00
Goldman initiated coverage of Vertex with a rating of Buy and set a new price target of $20.00
KING OF PRUSSIA, Pa., April 24, 2024 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX) ("Vertex" or the "Company"), a global provider of tax technology solutions and a member of Oracle PartnerNetwork (OPN), today announced that it has been selected to join the Oracle Independent Software Vendor (ISV) Accelerator for SaaS Initiative. With expertise in Oracle Cloud Fusion Cloud Applications integrations, Vertex continues to leverage the power of contract and tax data to optimize customer operations and outcomes. "Building on our longstanding relationship with Oracle, we are thrilled to join the Oracle ISV Accelerator," said Bradd Wildstein, Vice President, Indirect Sales at Vertex, Inc. "Throu
KING OF PRUSSIA, Pa., Dec. 21, 2023 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX) ("Vertex" or the "Company"), a global provider of tax technology solutions, announced today the appointment of three experienced leaders: Mindy Cunningham as SVP, Customer Success and Services; Jessica Nowlin, VP, Tax Research; and Angela Travagline VP, Global Talent and Organizational Effectiveness. The wealth of knowledge and skill set they bring will reinforce the company's strategic focus on customer success, tax research effectiveness and talent development. "These new appointments encompass vital aspects of our operations and are instrumental in Vertex's continuous journey as a leader in the SaaS land
KING OF PRUSSIA, Pa., Nov. 06, 2023 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX) ("Vertex" or the "Company"), a global provider of tax technology solutions, announced today its partnership with Shopify Inc. ((NYSE, TSX:SHOP), a provider of essential internet infrastructure for commerce. This partnership will enable enterprise merchants using the Shopify Tax Platform for business-to-business (B2B) and business-to-consumer (B2C) sales to automate tax calculation and compliance on a global scale. The SaaS-based solution removes barriers to commerce growth and accelerates the transaction process by eliminating the need to manually update complex rates and rules for over 195 countries, inclu
KING OF PRUSSIA, Pa., Oct. 05, 2023 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX) ("Vertex" or the "Company"), a global provider of tax technology solutions, announced today the appointment of Chirag Patel as Chief Strategy Officer (CSO). In this role, he will focus on the advancement of the Company's strategy across an expanded global market for tax technology solutions and collaborate closely with the Vertex executive team to accelerate the next phase of growth. Patel joins Vertex from Ernst & Young (EY) where he was the leader of EY Foundry, a corporate venturing unit responsible for building new software businesses in relevant markets. Prior to that position, Patel co-founded and act
KING OF PRUSSIA, Pa., Jan. 29, 2025 (GLOBE NEWSWIRE) -- Vertex Inc. (NASDAQ:VERX) ("Vertex" or the "Company"), a global provider of tax technology solutions, today released the findings of their 2024 U.S. state and local End-of-Year Rates and Rules Report. It highlights notable growth in district-level tax activity, including an increase in new district taxes and rate changes, as local governments respond to economic pressures and fiscal challenges heading into 2025. Amid rising demand for public services and the need to address fiscal pressures, local governments continue to add new levies at a high rate. In 2024, 171 new district taxes were enacted, marking the third highest total in
KING OF PRUSSIA, Pa., Jan. 22, 2025 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX), a leading global technology provider of indirect tax solutions, today announced that it will release fourth quarter 2024 financial results before the market opens on Thursday, February 27, 2025. A conference call to discuss the results will be held at 8:30 a.m. Eastern Time that same day. Those wishing to participate may do so by dialing 1-412-317-6026 approximately ten minutes prior to start time. A listen-only webcast of the call will also be available through the Company's Investor Relations website at https://ir.vertexinc.com. A conference call replay will be available approximately one hour after the
KING OF PRUSSIA, Pa., Jan. 09, 2025 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX) ("Vertex" or the "Company"), a global provider of tax technology solutions, was recognized on Built In's 50 Best Remote Large Places to Work and 100 Best Remote Places to Work lists. This annual awards program recognizes companies of all sizes, from startups to enterprises, celebrating remote-first employers and those in large tech markets across the U.S. "What an incredible honor to be recognized by Built In – this award validates our commitment to fostering an exceptional global workplace that prioritizes innovation, inclusivity and employee well-being," said Ann Hollins, Chief People Officer at Vertex. "
KING OF PRUSSIA, Pa., Dec. 16, 2024 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX) ("Vertex" or the "Company"), a global provider of tax technology solutions, has been named a Leader in three IDC MarketScape reports: IDC MarketScape: Worldwide SaaS and Cloud-Enabled SaaS Sales and Use Tax Automation Software for Enterprise 2024 Vendor Assessment (doc #US52035324, December 2024)IDC MarketScape: Worldwide Value-Added Tax Management Applications 2024 Vendor Assessment (doc #US52732824, December 2024)IDC MarketScape: Worldwide SaaS and Cloud-Enabled SaaS Sales and Use Tax Automation Software for Small and Midmarket 2024 Vendor Assessment (doc #US52732724, December 2024) "We are honored t
KING OF PRUSSIA, Pa., Dec. 02, 2024 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX), a global provider of tax technology solutions, today announced that David DeStefano, Chief Executive Officer, and John Schwab, Chief Financial Officer, will participate in a fireside chat at the Wells Fargo 8th Annual TMT Summit. The fireside chat is scheduled for Wednesday, December 4, 2024 at 2:15 PM Pacific Time. A live webcast and replay of the fireside chat will be available on Vertex's investor relations website at ir.vertex.com. About Vertex Vertex is a leading global provider of indirect tax software and solutions. The company's mission is to deliver the most trusted tax technology enabling glob
KING OF PRUSSIA, Pa. and LONDON, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Vertex Inc. (NASDAQ:VERX) ("Vertex" or the "Company"), a global provider of tax technology solutions, announced a new survey revealing automation and digital transformation are top priorities for driving business growth in tax and finance, but many organizations still have work to do. The 2024 Global Tax Transformation Report studied more than 600 global tax and finance professionals, manager level and above, and found that 80% consider tax and finance transformation key to business optimization, though only half of organizations have progressed in this direction. Challenges such as a lack of IT support (34%), budget const
KING OF PRUSSIA, Pa., Nov. 06, 2024 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX) ("Vertex" or the "Company"), a leading global provider of indirect tax solutions, today announced financial results for its third quarter ended September 30, 2024. "The third quarter of 2024 was another great quarter for Vertex", stated David DeStefano, Vertex's President, Chief Executive Officer and Chairperson of the Board. "Revenue was above the high end of our quarterly guidance, with mid-teens organic revenue growth. We were once again GAAP earnings positive with strong Adjusted EBITDA. And we delivered significant cash flow from operating activities as well as free cash flow, demonstrating our h
KING OF PRUSSIA, Pa., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX) ("Vertex" or the "Company"), a global provider of tax technology solutions, released new innovations, honored partners and fostered big ideas in the world of tax technology at its annual Vertex Exchange conference in New Orleans, Louisiana. Bringing together a record number of attendees – industry leaders, tax professionals, and technology innovators focused on the future of tax compliance while exploring the latest intelligent solutions to overcome the challenges of today's evolving business obligations. Demonstrating its commitment to innovation, Vertex continues to enhance its offerings with advanced A
KING OF PRUSSIA, Pa., Oct. 21, 2024 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX), a leading global technology provider of indirect tax solutions, today announced that it will release third quarter 2024 financial results before the market opens on Wednesday, November 6, 2024. A conference call to discuss the results will be held at 8:30 a.m. Eastern Time that same day. Those wishing to participate may do so by dialing 1-412-317-6026 approximately ten minutes prior to start time. A listen-only webcast of the call will also be available through the Company's Investor Relations website at https://ir.vertexinc.com. A conference call replay will be available approximately one hour after the
KING OF PRUSSIA, Pa., Oct. 01, 2024 (GLOBE NEWSWIRE) -- Vertex Inc. (NASDAQ:VERX) ("Vertex" or the "Company"), a global provider of tax technology solutions, has earned HDI Support Center Certification for six years running. This prestigious recognition, awarded by the HDI, the premier global provider of support center certification and consulting services, highlights Vertex's continued ability to consistently provide excellence in customer support. As the only tax technology provider to achieve this distinction, Vertex reaffirms its ongoing commitment to maintaining a customer-focused approach as the pillar of its business success. "I congratulate the entire Vertex team on achieving HDI
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KING OF PRUSSIA, Pa., Jan. 22, 2025 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX), a leading global technology provider of indirect tax solutions, today announced that it will release fourth quarter 2024 financial results before the market opens on Thursday, February 27, 2025. A conference call to discuss the results will be held at 8:30 a.m. Eastern Time that same day. Those wishing to participate may do so by dialing 1-412-317-6026 approximately ten minutes prior to start time. A listen-only webcast of the call will also be available through the Company's Investor Relations website at https://ir.vertexinc.com. A conference call replay will be available approximately one hour after the
KING OF PRUSSIA, Pa., Nov. 06, 2024 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX) ("Vertex" or the "Company"), a leading global provider of indirect tax solutions, today announced financial results for its third quarter ended September 30, 2024. "The third quarter of 2024 was another great quarter for Vertex", stated David DeStefano, Vertex's President, Chief Executive Officer and Chairperson of the Board. "Revenue was above the high end of our quarterly guidance, with mid-teens organic revenue growth. We were once again GAAP earnings positive with strong Adjusted EBITDA. And we delivered significant cash flow from operating activities as well as free cash flow, demonstrating our h
KING OF PRUSSIA, Pa., Oct. 21, 2024 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX), a leading global technology provider of indirect tax solutions, today announced that it will release third quarter 2024 financial results before the market opens on Wednesday, November 6, 2024. A conference call to discuss the results will be held at 8:30 a.m. Eastern Time that same day. Those wishing to participate may do so by dialing 1-412-317-6026 approximately ten minutes prior to start time. A listen-only webcast of the call will also be available through the Company's Investor Relations website at https://ir.vertexinc.com. A conference call replay will be available approximately one hour after the
KING OF PRUSSIA, Pa., Sept. 04, 2024 (GLOBE NEWSWIRE) -- Vertex Inc. (NASDAQ:VERX) ("Vertex" or the "Company"), a leading global provider of indirect tax solutions, today announced that it has completed the acquisition of ecosio, a leading B2B integration provider specializing in electronic data interchange (EDI) and e-invoicing, as of August 30, 2024. David DeStefano, CEO of Vertex, stated, "We welcome the ecosio team to the Vertex family. E-invoicing is going to change the way international companies handle Value Added Tax compliance and reporting. By integrating ecosio's e-invoicing capabilities together with Vertex's leading indirect tax software platform, we're delivering a comprehen
KING OF PRUSSIA, Pa., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX) ("Vertex" or the "Company"), a global provider of tax technology solutions, today announced the acquisition of ecosio, a leading B2B integration provider specializing in electronic data interchange (EDI) and e-invoicing. The closing is pending customary Austrian regulatory approval. The acquisition advances a shared vision to accelerate global commerce and deliver a single, scalable platform for automating business transactions and managing indirect tax reporting and e-invoicing compliance. With the increasing prevalence of real-time and near real-time digital tax reporting mandates, e-invoicing is rapid
KING OF PRUSSIA, Pa., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX) ("Vertex" or the "Company"), a leading global provider of indirect tax solutions, today announced financial results for its second quarter ended June 30, 2024. "The second quarter financial results demonstrate the true earnings power of the Vertex business model," stated David DeStefano, Vertex's President, Chief Executive Officer and Chairperson of the Board. "We were GAAP earnings positive for the third quarter in a row, generated the highest level of quarterly cash provided by operating activities and free cash flow in our 46-year history and delivered our highest Adjusted EBITDA margin since
KING OF PRUSSIA, Pa., July 11, 2024 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX), a leading global technology provider of indirect tax solutions, today announced that it will release second quarter 2024 financial results before the market opens on Wednesday, August 7, 2024. A conference call to discuss the results will be held at 8:30 a.m. Eastern Time that same day. Those wishing to participate may do so by dialing 1-412-317-6026 approximately ten minutes prior to start time. A listen-only webcast of the call will also be available through the Company's Investor Relations website at https://ir.vertexinc.com. A conference call replay will be available approximately one hour after the c
KING OF PRUSSIA, Pa., June 12, 2024 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX) ("Vertex" or the "Company"), a global provider of tax technology solutions, announced today the acquisition of tax-specific AI capabilities from Ryan, LLC, an award-winning tax services and software firm, designed to more effectively manage the complexity of tax mapping. Financial terms of the transaction were not disclosed. The categorization of products for taxability is a manual and time-consuming process that is critical for achieving enhanced tax accuracy, especially for high-volume businesses that must manage indirect tax compliance globally, at scale. The acquisition will accelerate Vertex's AI inno
KING OF PRUSSIA, Pa., May 08, 2024 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX) ("Vertex" or the "Company"), a leading global provider of indirect tax solutions, today announced financial results for its first quarter ended March 31, 2024. "The year is off to a solid start, and I am very pleased with our financial performance in the first quarter," stated David DeStefano, Vertex's President, Chief Executive Officer and Chairperson of the Board. "Revenue traction is strong in the first quarter, with our cloud solutions leading the way, and we are seeing significant earnings leverage that is driving material growth in profitability as well as cash flow. The current momentum in our busines
KING OF PRUSSIA, Pa., April 22, 2024 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX), a leading global technology provider of indirect tax solutions, today announced preliminary financial results for the period ended March 31, 2024. "Vertex's first quarter financial results were strong across our business," noted David DeStefano, President, Chief Executive Officer, and Chairperson of the Board. "We look forward to providing investors with full details when we announce our full first quarter financial results in early May." Revenues for the three months ended March 31, 2024 are expected to be between $155.5 million and $157.5 million, compared to $132.8 million for the three months ended M