Insider Selling: Vertex, Inc. (NASDAQ:VERX) Insider Sells 52,713 Shares of Stock

by · The Markets Daily

Vertex, Inc. (NASDAQ:VERX – Get Free Report) insider Item Second Irr. Trust Fbo Jac sold 52,713 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $41.02, for a total transaction of $2,162,287.26. Following the transaction, the insider now owns 1,144,993 shares in the company, valued at $46,967,612.86. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

  • 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 transaction of $2,028,899.34.

Vertex Stock Up 1.8 %

VERX stock opened at $40.35 on Friday. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market capitalization of $6.28 billion, a P/E ratio of 336.25, a P/E/G ratio of 11.73 and a beta of 0.68. The business has a 50-day moving average of $37.29 and a 200-day moving average of $34.86. Vertex, Inc. has a fifty-two week low of $21.92 and a fifty-two week high of $42.38.

Vertex (NASDAQ:VERX – Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.02. Vertex had a return on equity of 22.32% and a net margin of 3.20%. The business had revenue of $161.10 million for the quarter, compared to analyst estimates of $160.66 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. Vertex’s revenue was up 15.3% on a year-over-year basis. On average, sell-side analysts anticipate that Vertex, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on VERX. Citigroup raised their price objective on shares of Vertex from $32.00 to $36.00 and gave the stock a “neutral” rating in a research note on Friday, June 28th. JMP Securities raised their price target on shares of Vertex from $42.00 to $47.00 and gave the company a “market outperform” rating in a report on Wednesday, July 31st. Robert W. Baird started coverage on shares of Vertex in a report on Tuesday, July 23rd. They issued an “outperform” rating and a $43.00 target price on the stock. Finally, Baird R W upgraded shares of Vertex to a “strong-buy” rating in a report on Tuesday, July 23rd. Four research 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 company. According to MarketBeat, Vertex presently has a consensus rating of “Moderate Buy” and an average target price of $37.30.

Get Our Latest Report on VERX

Institutional Trading of Vertex

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Vertex by 4.2% in the first quarter. Vanguard Group Inc. now owns 5,791,215 shares of the company’s stock valued at $183,929,000 after buying an additional 235,407 shares during the period. TimesSquare Capital Management LLC raised its stake in Vertex by 2.3% in the first quarter. TimesSquare Capital Management LLC now owns 1,386,848 shares of the company’s stock valued at $44,046,000 after buying an additional 30,523 shares during the period. Banque Pictet & Cie SA raised its stake in Vertex by 551.9% in the second quarter. Banque Pictet & Cie SA now owns 949,540 shares of the company’s stock valued at $34,231,000 after buying an additional 803,881 shares during the period. Pembroke Management LTD raised its stake 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 buying an additional 666,223 shares during the period. Finally, William Blair Investment Management LLC raised its stake in Vertex by 8.1% in the second quarter. William Blair Investment Management LLC now owns 782,715 shares of the company’s stock valued at $28,217,000 after buying an additional 58,678 shares during the period. Institutional investors own 59.10% of the company’s stock.

Vertex Company Profile

(Get Free Report)

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.

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