Insider Selling: Vertex, Inc. (NASDAQ:VERX) Insider Sells 26,645 Shares of Stock

Vertex, Inc. (NASDAQ:VERX) insider Item Second Irr. Trust Fbo Jac sold 26,645 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $51.40, for a total transaction of $1,369,553.00. Following the sale, the insider now directly owns 906,061 shares of the company’s stock, valued at $46,571,535.40. This represents a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Item Second Irr. Trust Fbo Jac also recently made the following trade(s):

• On Monday, November 11th, Item Second Irr. Trust Fbo Jac sold 8,485 shares of Vertex stock. The stock was sold at an average price of $49.50, for a total transaction of $420,007.50.
• On Monday, October 14th, Item Second Irr. Trust Fbo Jac sold 56,419 shares of Vertex stock. The shares were sold at an average price of $40.77, for a total value of $2,300,202.63.
• On Friday, October 11th, Item Second Irr. Trust Fbo Jac sold 46,098 shares of Vertex stock. The stock was sold at an average price of $40.48, for a total transaction of $1,866,047.04.
• On Wednesday, October 9th, Item Second Irr. Trust Fbo Jac sold 49,114 shares of Vertex stock. The shares were sold at an average price of $41.31, for a total transaction of $2,028,899.34.
• On Monday, October 7th, Item Second Irr. Trust Fbo Jac sold 52,713 shares of Vertex stock. The shares were sold at an average price of $41.02, for a total value of $2,162,287.26.

Vertex Stock Performance

Shares of VERX opened at $49.45 on Friday. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of 274.72, a PEG ratio of 9.34 and a beta of 0.67. Vertex, Inc. has a 12 month low of $23.31 and a 12 month high of $52.93. The firm has a fifty day simple moving average of $40.91 and a 200 day simple moving average of $37.09. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29.

Vertex (NASDAQ:VERX) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. The firm had revenue of $170.40 million for the quarter, compared to analyst estimates of $165.70 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The business’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.06 EPS. Research analysts forecast that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on VERX. Stifel Nicolaus lifted their price target on Vertex from $41.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. JMP Securities boosted their target price on shares of Vertex from $47.00 to $61.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. Needham & Company LLC increased their target price on Vertex from $45.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Baird R W upgraded Vertex to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, The Goldman Sachs Group lifted their target price on Vertex from $42.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $52.30.

Hedge Funds Weigh In On Vertex

Several large investors have recently modified their holdings of VERX. Blue Trust Inc. acquired a new position in Vertex in the 2nd quarter valued at $28,000. Quest Partners LLC acquired a new position in shares of Vertex in the second quarter valued at about $37,000. Advisors Asset Management Inc. grew its stake in shares of Vertex by 126.2% in the third quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock valued at $37,000 after acquiring an additional 540 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Vertex during the second quarter worth about $40,000. Finally, Amalgamated Bank acquired a new stake in Vertex in the 2nd quarter worth about $68,000. 59.10% of the stock is owned by institutional investors.

Vertex Company Profile

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.