John Richard Stamm Sells 2,500 Shares of Vertex, Inc. (NASDAQ:VERX) Stock

Vertex, Inc. (NASDAQ:VERX) Director John Richard Stamm sold 2,500 shares of Vertex stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $53.81, for a total transaction of $134,525.00. Following the sale, the director now owns 15,535 shares in the company, valued at $835,938.35. This represents a 13.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Vertex Stock Down 1.5 %

Shares of VERX traded down $0.84 on Wednesday, reaching $54.31. The stock had a trading volume of 54,182 shares, compared to its average volume of 787,096. The company has a 50-day simple moving average of $43.84 and a 200-day simple moving average of $38.55. The firm has a market capitalization of $8.47 billion, a price-to-earnings ratio of 306.39, a price-to-earnings-growth ratio of 10.30 and a beta of 0.67. Vertex, Inc. has a 12-month low of $23.31 and a 12-month high of $55.52. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04.

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

Wall Street Analyst Weigh In

VERX has been the subject of several analyst reports. Stifel Nicolaus boosted their target price on Vertex from $41.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Robert W. Baird upped 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. JMP Securities increased their price target on Vertex from $47.00 to $61.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. BMO Capital Markets increased their target price on Vertex from $42.00 to $52.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Finally, Jefferies Financial Group raised Vertex from a “hold” rating to a “buy” rating and increased their target price for the stock from $35.00 to $50.00 in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Vertex currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.30.

Hedge Funds Weigh In On Vertex

Large investors have recently made changes to their positions in the business. Banque Pictet & Cie SA grew 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 worth $34,231,000 after purchasing an additional 803,881 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Vertex during the 2nd quarter valued at $22,173,000. Brown Capital Management LLC purchased a new position in Vertex in the 3rd quarter worth $20,938,000. Premier Fund Managers Ltd raised its stake in Vertex by 787.0% in the 3rd quarter. Premier Fund Managers Ltd now owns 524,775 shares of the company’s stock worth $19,280,000 after acquiring an additional 465,610 shares during the last quarter. Finally, Geneva Capital Management LLC raised its stake in Vertex by 40.1% in the 3rd quarter. Geneva Capital Management LLC now owns 1,450,599 shares of the company’s stock worth $55,863,000 after acquiring an additional 414,945 shares during the last quarter. 59.10% of the stock is currently owned by hedge funds and other institutional investors.

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.