Vertex, Inc. (NASDAQ:VERX) Insider Sells $2,300,202.63 in Stock

Vertex, Inc. (NASDAQ:VERX) insider Item Second Irr. Trust Fbo Jac sold 56,419 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $40.77, for a total transaction of $2,300,202.63. Following the transaction, the insider now directly owns 932,706 shares in the company, valued at $38,026,423.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• 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 transaction of $2,162,287.26.

Vertex Stock Up 0.4 %

VERX traded up $0.17 during midday trading on Tuesday, hitting $41.26. The company had a trading volume of 539,624 shares, compared to its average volume of 777,128. Vertex, Inc. has a 52 week low of $21.92 and a 52 week high of $42.38. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of 1,031.50, a PEG ratio of 11.33 and a beta of 0.68. The stock’s 50 day moving average price is $37.39 and its 200 day moving average price is $34.99.

Vertex (NASDAQ:VERX) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.02. Vertex had a net margin of 3.20% and a return on equity of 22.32%. The firm had revenue of $161.10 million during the quarter, compared to the consensus estimate of $160.66 million. During the same period in the previous year, the firm posted $0.04 earnings per share. The business’s revenue was up 15.3% compared to the same quarter last year. On average, research analysts anticipate that Vertex, Inc. will post 0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

VERX has been the topic of a number of recent analyst reports. Citigroup lifted their price objective on shares of Vertex from $32.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday, June 28th. Robert W. Baird began coverage on shares of Vertex in a research note on Tuesday, July 23rd. They issued an “outperform” rating and a $43.00 price objective on the stock. JMP Securities boosted their target price on shares of Vertex from $42.00 to $47.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 31st. Finally, Baird R W raised shares of Vertex to a “strong-buy” rating in a research note on Tuesday, July 23rd. Four investment 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 stock. According to data from MarketBeat.com, Vertex has a consensus rating of “Moderate Buy” and an average target price of $37.30.

Institutional Investors Weigh In On Vertex

Several hedge funds and other institutional investors have recently made changes to their positions in VERX. Vanguard Group Inc. increased its position in shares of Vertex by 13.0% during the fourth quarter. Vanguard Group Inc. now owns 5,555,808 shares of the company’s stock worth $149,673,000 after acquiring an additional 637,075 shares in the last quarter. Quadrature Capital Ltd increased its position in shares of Vertex by 175.0% during the fourth quarter. Quadrature Capital Ltd now owns 73,909 shares of the company’s stock worth $1,992,000 after acquiring an additional 47,031 shares in the last quarter. Moody National Bank Trust Division increased its position in shares of Vertex by 34.7% during the first quarter. Moody National Bank Trust Division now owns 25,369 shares of the company’s stock worth $806,000 after acquiring an additional 6,529 shares in the last quarter. Capital CS Group LLC purchased a new stake in Vertex in the 1st quarter valued at about $616,000. Finally, Toth Financial Advisory Corp purchased a new stake in Vertex in the 1st quarter valued at about $628,000. 59.10% 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.