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Vertex Inc Cl A Down 6.86% To $11.81 After Earnings Beat

Tuesday, August 09, 2022 02:50 PM | InvestorsObserver Analysts

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Vertex Inc Cl A Down 6.86% To $11.81 After Earnings Beat

Vertex Inc Cl A (VERX) said before open Tuesday that it earned $0.06 per share in quarter two 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $119.3 million, beating estimates by $2.5 million.

In the same quarter a year ago, the company earned $0.08 per share on revenue of $104.9 million.

The stock is down 6.86% to $11.81 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 25. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Vertex Inc is a provider of tax technology and services. It enables companies to realize the full strategic potential of the tax function by automating and integrating tax processes while leveraging advanced and predictive analytics of tax data. Vertex provides cloud-based and on-premise solutions to specific industries for every line of tax, including income, sales, consumer use, value-added, and payroll. The company offers solutions such as tax determination, data management, document management, and compliance and reporting among others.

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