Insider Selling: Vertex, Inc. (NASDAQ:VERX) General Counsel Sells 43,228 Shares of Stock

Vertex, Inc. (NASDAQ:VERX) General Counsel Bryan T.R. Rowland sold 43,228 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $35.98, for a total value of $1,555,343.44. Following the transaction, the general counsel now owns 132 shares in the company, valued at $4,749.36. The trade was a 99.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Vertex Stock Down 1.2 %

Vertex stock traded down $0.45 during trading on Friday, hitting $35.71. 1,844,434 shares of the company were exchanged, compared to its average volume of 955,792. The company has a market capitalization of $5.65 billion, a P/E ratio of 198.39, a PEG ratio of 6.66 and a beta of 0.87. The business’s 50 day moving average is $46.66 and its 200 day moving average is $46.40. Vertex, Inc. has a 52 week low of $27.22 and a 52 week high of $60.71. 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 data on Thursday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). The firm had revenue of $178.46 million for the quarter, compared to analysts’ expectations of $176.90 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. Analysts predict that Vertex, Inc. will post 0.38 earnings per share for the current year.

Wall Street Analyst Weigh In

VERX has been the topic of a number of research reports. Robert W. Baird cut their target price on shares of Vertex from $62.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. Morgan Stanley upped their price objective on shares of Vertex from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday. JMP Securities restated a “market outperform” rating and issued a $61.00 target price on shares of Vertex in a research note on Monday, December 9th. The Goldman Sachs Group decreased their target price on Vertex from $64.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Finally, Citigroup increased their price target on Vertex from $46.00 to $54.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.82.

Institutional Investors Weigh In On Vertex

Institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its position in shares of Vertex by 4.8% during the 4th quarter. California State Teachers Retirement System now owns 54,677 shares of the company’s stock worth $2,917,000 after buying an additional 2,515 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Vertex in the fourth quarter valued at approximately $6,018,000. Jefferies Financial Group Inc. purchased a new stake in shares of Vertex during the fourth quarter valued at approximately $1,909,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Vertex by 18.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,521 shares of the company’s stock worth $8,831,000 after acquiring an additional 25,991 shares during the period. Finally, Voloridge Investment Management LLC purchased a new position in Vertex in the fourth quarter worth $1,117,000. 70.32% of the stock is owned by institutional investors.

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.