Vertex, Inc. (NASDAQ:VERX) Insider Sells $420,007.50 in Stock

Vertex, Inc. (NASDAQ:VERX) insider Item Second Irr. Trust Fbo Jac sold 8,485 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $49.50, for a total transaction of $420,007.50. Following the completion of the sale, the insider now directly owns 782,706 shares in the company, valued at approximately $38,743,947. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Thursday, November 7th, Item Second Irr. Trust Fbo Jac sold 26,645 shares of Vertex stock. The stock was sold at an average price of $51.40, for a total transaction of $1,369,553.00.
• 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 shares were sold at an average price of $40.48, for a total value of $1,866,047.04.
• On Wednesday, October 9th, Item Second Irr. Trust Fbo Jac sold 49,114 shares of Vertex stock. The stock was sold at an average price of $41.31, for a total value of $2,028,899.34.
• On Monday, October 7th, Item Second Irr. Trust Fbo Jac sold 52,713 shares of Vertex stock. The stock was sold at an average price of $41.02, for a total transaction of $2,162,287.26.

Vertex Trading Up 0.9 %

NASDAQ:VERX opened at $49.75 on Wednesday. Vertex, Inc. has a 12-month low of $23.31 and a 12-month high of $52.93. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29. The stock’s 50 day simple moving average is $40.62 and its 200-day simple moving average is $37.00. The firm has a market cap of $7.74 billion, a P/E ratio of 276.39, a PEG ratio of 9.88 and a beta of 0.67.

Vertex (NASDAQ:VERX) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.16 earnings per share (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 company had revenue of $170.40 million for the quarter, compared to analysts’ expectations of $165.70 million. During the same period in the previous year, the company posted $0.06 EPS. Vertex’s revenue was up 17.5% compared to the same quarter last year. Equities analysts anticipate that Vertex, Inc. will post 0.36 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Vertex by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 5,791,215 shares of the company’s stock worth $183,929,000 after purchasing an additional 235,407 shares during the period. Geneva Capital Management LLC grew its holdings in Vertex by 40.1% during the third quarter. Geneva Capital Management LLC now owns 1,450,599 shares of the company’s stock worth $55,863,000 after acquiring an additional 414,945 shares during the period. Banque Pictet & Cie SA raised its position in Vertex by 551.9% in the second quarter. Banque Pictet & Cie SA now owns 949,540 shares of the company’s stock worth $34,231,000 after acquiring an additional 803,881 shares in the last quarter. Pembroke Management LTD lifted its holdings in Vertex by 255.3% in the first quarter. Pembroke Management LTD now owns 927,129 shares of the company’s stock valued at $29,446,000 after acquiring an additional 666,223 shares during the period. Finally, William Blair Investment Management LLC boosted its position in shares of Vertex by 8.1% during the 2nd quarter. William Blair Investment Management LLC now owns 782,715 shares of the company’s stock worth $28,217,000 after purchasing an additional 58,678 shares in the last quarter. 59.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on VERX. The Goldman Sachs Group increased their target price on shares of Vertex from $42.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. BMO Capital Markets lifted their target price on Vertex from $42.00 to $52.00 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. Jefferies Financial Group raised Vertex from a “hold” rating to a “buy” rating and upped their target price for the company from $35.00 to $50.00 in a research report on Monday, November 4th. Robert W. Baird boosted their price objective on Vertex from $43.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Baird R W raised Vertex to a “strong-buy” rating in a report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.22.

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.