Item Second Irr. Trust Fbo Kyl Sells 13,346 Shares of Vertex, Inc. (NASDAQ:VERX) Stock

Vertex, Inc. (NASDAQ:VERX) major shareholder Item Second Irr. Trust Fbo Kyl sold 13,346 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $55.13, for a total value of $735,764.98. Following the sale, the insider now directly owns 1,344,754 shares of the company’s stock, valued at $74,136,288.02. This represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, November 20th, Item Second Irr. Trust Fbo Kyl sold 40,966 shares of Vertex stock. The stock was sold at an average price of $52.16, for a total value of $2,136,786.56.

Vertex Stock Up 0.5 %

Shares of VERX traded up $0.28 during trading hours on Wednesday, hitting $54.90. The company had a trading volume of 761,849 shares, compared to its average volume of 786,451. Vertex, Inc. has a one year low of $23.31 and a one year high of $57.74. The company’s fifty day moving average price is $47.39 and its two-hundred day moving average price is $40.15. The company has a market capitalization of $8.56 billion, a PE ratio of 303.44, a price-to-earnings-growth ratio of 10.57 and a beta of 0.77. 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 released its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The business had revenue of $170.40 million during the quarter, compared to analyst estimates of $165.70 million. During the same period in the prior year, the firm posted $0.06 earnings per share. The company’s quarterly revenue was up 17.5% on a year-over-year basis. As a group, equities analysts forecast that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its stake in Vertex by 17.6% in the third quarter. Franklin Resources Inc. now owns 1,690,045 shares of the company’s stock valued at $69,444,000 after buying an additional 253,263 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Vertex in the third quarter valued at about $2,354,000. Geode Capital Management LLC raised its stake in shares of Vertex by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,275,283 shares of the company’s stock worth $49,121,000 after purchasing an additional 37,592 shares during the last quarter. Barclays PLC lifted its holdings in shares of Vertex by 5.4% during the third quarter. Barclays PLC now owns 582,273 shares of the company’s stock worth $22,424,000 after purchasing an additional 29,700 shares during the period. Finally, Pier Capital LLC boosted its position in Vertex by 1.8% in the third quarter. Pier Capital LLC now owns 231,390 shares of the company’s stock valued at $8,911,000 after buying an additional 4,195 shares during the last quarter. 59.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. The Goldman Sachs Group raised their price target on shares of Vertex from $42.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC raised their target price on shares of Vertex from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Stifel Nicolaus boosted their price target on Vertex from $41.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Jefferies Financial Group upgraded Vertex from a “hold” rating to a “buy” rating and raised their price objective for the stock from $35.00 to $50.00 in a report on Monday, November 4th. Finally, BMO Capital Markets lifted their target price on Vertex from $42.00 to $52.00 and gave the company a “market perform” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Vertex currently has an average rating of “Moderate Buy” and an average target price of $52.30.

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.