Vertex, Inc. (NASDAQ:VERX) CEO David Destefano Sells 159,107 Shares

Vertex, Inc. (NASDAQ:VERX) CEO David Destefano sold 159,107 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $49.61, for a total transaction of $7,893,298.27. Following the sale, the chief executive officer now directly owns 332,290 shares in the company, valued at $16,484,906.90. The trade was a 32.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

David Destefano also recently made the following trade(s):

• On Monday, November 18th, David Destefano sold 22,275 shares of Vertex stock. The shares were sold at an average price of $49.55, for a total transaction of $1,103,726.25.

Vertex Stock Performance

Shares of NASDAQ:VERX traded up $0.28 on Monday, reaching $49.38. 635,634 shares of the company’s stock were exchanged, compared to its average volume of 787,738. 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 business’s 50-day moving average is $41.46 and its two-hundred day moving average is $37.43. Vertex, Inc. has a fifty-two week low of $23.31 and a fifty-two week high of $52.93. The firm has a market capitalization of $7.70 billion, a price-to-earnings ratio of 274.33, a PEG ratio of 9.22 and a beta of 0.67.

Vertex (NASDAQ:VERX) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The company had revenue of $170.40 million for the quarter, compared to analyst estimates of $165.70 million. During the same quarter last year, the business earned $0.06 earnings per share. Vertex’s revenue was up 17.5% compared to the same quarter last year. As a group, equities research analysts forecast that Vertex, Inc. will post 0.38 EPS for the current year.

Hedge Funds Weigh In On Vertex

Several large investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in shares of Vertex in the first quarter valued at approximately $166,000. Swiss National Bank raised its position in Vertex by 5.4% in 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 in the last quarter. Vanguard Group Inc. lifted its holdings in Vertex by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 5,791,215 shares of the company’s stock valued at $183,929,000 after acquiring an additional 235,407 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Vertex by 8.0% during the 1st quarter. Bessemer Group Inc. now owns 248,738 shares of the company’s stock valued at $7,900,000 after purchasing an additional 18,335 shares in the last quarter. Finally, Gagnon Advisors LLC grew its stake in shares of Vertex by 100.0% in the 1st quarter. Gagnon Advisors LLC now owns 115,594 shares of the company’s stock worth $3,671,000 after purchasing an additional 57,797 shares during the last quarter. Institutional investors and hedge funds own 59.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on VERX shares. Morgan Stanley upped their price objective on shares of Vertex from $50.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group upped their price target on Vertex from $42.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. JMP Securities lifted their price objective on Vertex from $47.00 to $61.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 7th. Stifel Nicolaus raised their target price on Vertex from $41.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC boosted their price target on shares of Vertex from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Three equities 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. Based on data from MarketBeat.com, Vertex currently has a consensus 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.