Insider Selling: Vertex, Inc. (NASDAQ:VERX) Insider Sells $1,369,553.00 in Stock

Vertex, Inc. (NASDAQ:VERX) insider Item Second Irr. Trust Fbo Jac sold 26,645 shares of Vertex stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $51.40, for a total transaction of $1,369,553.00. Following the sale, the insider now directly owns 906,061 shares in the company, valued at $46,571,535.40. The trade was a 2.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Monday, November 11th, Item Second Irr. Trust Fbo Jac sold 8,485 shares of Vertex stock. The shares were sold at an average price of $49.50, for a total transaction of $420,007.50.
• On Monday, October 14th, Item Second Irr. Trust Fbo Jac sold 56,419 shares of Vertex stock. The stock was sold at an average price of $40.77, for a total transaction 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 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 value 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 Performance

Shares of VERX stock opened at $49.45 on Friday. The company has a market capitalization of $7.69 billion, a P/E ratio of 274.72, a P/E/G ratio of 9.34 and a beta of 0.67. Vertex, Inc. has a 12-month low of $23.31 and a 12-month high of $52.93. The business’s 50 day moving average is $40.91 and its two-hundred day moving average is $37.09. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29.

Vertex (NASDAQ:VERX) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $170.40 million during the quarter, compared to the consensus estimate of $165.70 million. Vertex had a net margin of 4.73% and a return on equity of 24.92%. Vertex’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 EPS. Analysts expect that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Vertex in the first quarter valued at approximately $166,000. Oppenheimer Asset Management Inc. increased its position in shares of Vertex by 1.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 51,624 shares of the company’s stock worth $1,640,000 after purchasing an additional 589 shares in the last quarter. Swiss National Bank grew its position in shares of Vertex by 5.4% during the first quarter. Swiss National Bank now owns 101,200 shares of the company’s stock worth $3,214,000 after acquiring an additional 5,200 shares during the last quarter. Pembroke Management LTD boosted its stake in Vertex by 255.3% during the 1st quarter. Pembroke Management LTD now owns 927,129 shares of the company’s stock worth $29,446,000 after purchasing an additional 666,223 shares during the period. Finally, Vanguard Group Inc. increased 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 purchasing an additional 235,407 shares during the period. Hedge funds and other institutional investors own 59.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on VERX. Robert W. Baird raised their price objective on Vertex from $43.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Baird R W raised shares of Vertex to a “strong-buy” rating in a report on Tuesday, July 23rd. BMO Capital Markets raised their target price 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. The Goldman Sachs Group lifted their price objective on shares of Vertex from $42.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Jefferies Financial Group raised shares of Vertex from a “hold” rating to a “buy” rating and increased their price objective for the stock from $35.00 to $50.00 in a research report on Monday, November 4th. Three investment 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’s stock. According to MarketBeat.com, Vertex has an average rating of “Moderate Buy” and an average price target of $52.30.

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.