Insider Selling: Vertex, Inc. (NASDAQ:VERX) General Counsel Sells 3,020 Shares of Stock

Vertex, Inc. (NASDAQ:VERX) General Counsel Bryan T.R. Rowland sold 3,020 shares of Vertex stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $55.08, for a total value of $166,341.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Vertex Trading Down 1.6 %

VERX traded down $0.90 during trading hours on Wednesday, reaching $54.25. 406,614 shares of the company’s stock traded hands, compared to its average volume of 788,735. The firm has a 50-day moving average price of $43.84 and a 200 day moving average price of $38.55. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $8.46 billion, a PE ratio of 306.39, a PEG ratio of 10.30 and a beta of 0.67. Vertex, Inc. has a 52-week low of $23.31 and a 52-week high of $55.52.

Vertex (NASDAQ:VERX) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The company had revenue of $170.40 million for the quarter, compared to the consensus estimate of $165.70 million. During the same period last year, the business posted $0.06 EPS. Vertex’s quarterly revenue was up 17.5% on a year-over-year basis. As a group, sell-side analysts predict that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Verdence Capital Advisors LLC lifted its holdings in shares of Vertex by 6.1% during the 3rd quarter. Verdence Capital Advisors LLC now owns 8,313 shares of the company’s stock valued at $320,000 after purchasing an additional 477 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of Vertex by 126.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock valued at $37,000 after buying an additional 540 shares during the last quarter. KBC Group NV lifted its stake in shares of Vertex by 46.1% in the 3rd quarter. KBC Group NV now owns 2,099 shares of the company’s stock valued at $81,000 after purchasing an additional 662 shares during the period. Ellsworth Advisors LLC boosted its position in Vertex by 4.4% during the third quarter. Ellsworth Advisors LLC now owns 16,707 shares of the company’s stock worth $643,000 after purchasing an additional 697 shares in the last quarter. Finally, Blue Trust Inc. acquired a new stake in shares of Vertex in the second quarter valued at about $28,000. 59.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on VERX shares. Stifel Nicolaus boosted their target price on shares of Vertex from $41.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC raised their price target on Vertex from $45.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Robert W. Baird lifted their price objective on shares of Vertex from $43.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. BMO Capital Markets lifted their price target on shares of Vertex from $42.00 to $52.00 and gave the company a “market perform” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their target price on Vertex from $42.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Three 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 stock. According to MarketBeat, the stock 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.