Vertex, Inc. (NASDAQ:VERX) Insider Sells $2,028,899.34 in Stock

by · The Cerbat Gem

Vertex, Inc. (NASDAQ:VERX – Get Free Report) insider Item Second Irr. Trust Fbo Jac sold 49,114 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $41.31, for a total transaction of $2,028,899.34. Following the completion of the transaction, the insider now directly owns 1,067,852 shares of the company’s stock, valued at $44,112,966.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

  • 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 value of $2,162,287.26.

Vertex Trading Down 3.4 %

Shares of NASDAQ VERX opened at $39.65 on Friday. Vertex, Inc. has a 12 month low of $21.92 and a 12 month high of $42.38. The company has a market cap of $6.15 billion, a price-to-earnings ratio of 991.25, a P/E/G ratio of 11.57 and a beta of 0.68. 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 business has a fifty day simple moving average of $37.23 and a 200-day simple moving average of $34.79.

Vertex (NASDAQ:VERX – Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share 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 company had revenue of $161.10 million for the quarter, compared to analyst estimates of $160.66 million. During the same period in the prior year, the firm posted $0.04 EPS. The business’s revenue was up 15.3% compared to the same quarter last year. Sell-side analysts predict that Vertex, Inc. will post 0.34 EPS for the current year.

Analysts Set New Price Targets

VERX has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $45.00 price target on shares of Vertex in a report on Thursday, June 13th. Baird R W upgraded Vertex to a “strong-buy” rating in a report on Tuesday, July 23rd. Citigroup boosted their target price on Vertex from $32.00 to $36.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. JMP Securities boosted their target price on Vertex from $42.00 to $47.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 31st. Finally, Robert W. Baird started coverage on Vertex in a report on Tuesday, July 23rd. They set an “outperform” rating and a $43.00 target price for the company. Four 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.30.

View Our Latest Stock Analysis on VERX

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Silvercrest Asset Management Group LLC increased its position in Vertex by 13.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 712,926 shares of the company’s stock worth $22,643,000 after buying an additional 85,237 shares during the period. Cannon Global Investment Management LLC acquired a new position in Vertex in the first quarter worth $673,000. Driehaus Capital Management LLC acquired a new position in Vertex in the second quarter worth $22,173,000. Allspring Global Investments Holdings LLC acquired a new position in Vertex in the first quarter worth $12,043,000. Finally, Quadrature Capital Ltd raised its position in shares of Vertex by 24.7% during the first quarter. Quadrature Capital Ltd now owns 92,167 shares of the company’s stock worth $2,927,000 after acquiring an additional 18,258 shares during the last quarter. 59.10% of the stock is owned by institutional investors.

About Vertex

(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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