Welcome to our dedicated page for Vertex news (Ticker: $VERX), a resource for investors and traders seeking the latest updates and insights on Vertex stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Vertex's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Vertex's position in the market.
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Vertex, Inc. (NASDAQ:VERX) released its annual 2023 End-of-Year Sales Tax Rates and Rules report, revealing a 10-year high in U.S. sales tax rate changes. The report found that businesses faced 444 sales tax rate changes in 2023, marking a 17% rise from the previous year. The total number of rate changes combined with new sales taxes amounted to 676, the second-highest in a decade. The report also highlighted the challenges faced by tax professionals in anticipating and staying ahead of these changes, with implications for the future of the indirect tax landscape. The record number of U.S. sales tax rate changes in 2023 caps a decade-long trend, driven by factors such as unsustainable state fiscal conditions, the expansion of sales tax on services, and global trends in e-invoicing requirements.
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End-of-Day
-3.13%
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Vertex, Inc. (NASDAQ:VERX) ranks No. 19 in Built In’s 2024 Best Places to Work Awards list for large remote companies. The recognition is based on company data around compensation, benefits, remote work opportunities, DE&I programs, and other people-first cultural offerings. Vertex's Chief People Officer, Ann Hollins, emphasizes the company's commitment to fostering an agile and engaging company culture, prioritizing supportive leadership and a thriving remote-first global mindset. The recognition is a result of the company's overall culture, rewards and benefits, competitive salary, remote work options, and enhanced benefits and wellness vendors, promoting diversity and inclusion across all career levels.
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Rhea-AI Sentiment
End-of-Day
1.27%
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Vertex, Inc. (NASDAQ:VERX) has been recognized as a winner of IDC’s SaaS Customer Satisfaction Award for Tax for the third consecutive year. The company received top ratings in the 2023 SaaSPath Survey by IDC and excelled in areas such as user experience, data management, cloud native architecture, data security, and customer support. Vertex has been consistently positioned as a Leader in various reports by IDC, indicating its strong performance in the tax technology solutions market.
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End-of-Day
6.26%
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Vertex, Inc. (NASDAQ: VERX) has withdrawn its public tender offer for 100% of the shares of Pagero Group AB (publ) following competing offers and the acquisition of more than 10 percent of Pagero's shares by a competing bidder. The CEO emphasized the company's strong fundamentals and market position, expressing appreciation for Silver Lake's support. Additionally, Vertex confirmed the cancellation of a $500 million issuance of Convertible Preferred Stock.
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Vertex, Inc. (NASDAQ:VERX) announced 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. These appointments reinforce the company’s strategic focus on customer success, tax research effectiveness, and talent development.
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Rhea-AI Sentiment
End-of-Day
2.88%
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Vertex, Inc. (NASDAQ:VERX) has announced the certified integration of Vertex® O Series® and the Mirakl Marketplace Platform. This integration allows for the automation of tax rates and rules, as well as the determination and calculation of sales, seller use, and value-added tax (VAT) on marketplace transactions. The benefits include accuracy and consistency enhancements for tax determination and calculation, reducing compliance risk for marketplace operators and sellers. With the growth of B2B sales interactions in digital channels, the ability to streamline tax determination and remove friction for marketplace operators and their sellers is crucial for platform growth.
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End-of-Day
0.93%
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Vertex, Inc. (NASDAQ: VERX) has commenced a public tender offer for 100% of the shares of Pagero Group AB (publ) at a price of 36 SEK in cash per share, equivalent to a total tender value of approximately $555 million. The acquisition will accelerate the companies’ partnership to provide multinational companies with an end-to-end solution to automate business transactions and manage indirect tax, reporting, and e-invoicing compliance globally.
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Rhea-AI Sentiment
End-of-Day
-3.51%
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Vertex, Inc. (NASDAQ: VERX) reveals that 74% of global businesses are accepting indirect tax compliance risks, with 62% found to be publicly non-compliant. Regional differences in risk tolerance are stark, with 90% of U.S.-based businesses considering themselves risk prone compared to 56% in Southern Europe. The research also highlights the personal exposure felt by tax professionals due to the current level of indirect compliance within their businesses.
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Rhea-AI Sentiment
End-of-Day
1.39%
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Vertex, Inc. (NASDAQ: VERX) announced its third quarter financial results, showing strong growth in total revenues, software subscription revenues, and cloud revenues. The company also reported an increase in Annual Recurring Revenue and Average Annual Revenue per direct customer. However, there was a loss from operations and an increase in net loss compared to the same period last year. The company also provided a positive financial outlook for the fourth quarter and full-year 2023.
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Rhea-AI Sentiment
End-of-Day
21.03%
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Vertex, Inc. has announced its partnership with Shopify Inc. to automate tax calculation and compliance for enterprise merchants using the Shopify Tax Platform. This SaaS-based solution eliminates the need for manual updates and covers over 195 countries. Vertex becomes the first global tax technology partner to join the Shopify Tax Partner Platform, providing a unified global solution for cross-border indirect tax.
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Rhea-AI Sentiment
End-of-Day
-5.17%
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Vertex, Inc.
Nasdaq:VERX
VERX Rankings
VERX Stock Data
4.54B
55.95M
21.84%
90.87%
0.84%
Software Publishers
Information
United States of America
KING OF PRUSSIA
About VERX
tax is a complex and time-consuming challenge for companies around the world. constantly changing accounting and regulatory requirements, greater scrutiny from audit committees, and a shrinking pool of talent are all putting more pressure on the corporate tax function than ever before. the trusted leader in tax technology excellence we're vertex. since 1978, over 10,000 corporate customers have relied on us for innovative tax processing solutions. spend some time learning more about our rich history. combining advanced technology, sophisticated software, and an exceptional team of experienced tax experts, we help our customers unlock huge process and productivity gains, limit risk, and make tax a more integral, strategic contributor to business success. over the past 15 years vertex established a reputation for excellence in partnering and is considered a premier partner with sap, oracle, and other leading software providers. also, vertex works closely with the big 4 and other t