Item Second Irr. Trust Fbo Jac Sells 26,645 Shares of Vertex, Inc. (NASDAQ:VERX) Stock

Vertex, Inc. (NASDAQ:VERX) insider Item Second Irr. Trust Fbo Jac sold 26,645 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $51.40, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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, November 11th, Item Second Irr. Trust Fbo Jac sold 8,485 shares of Vertex stock. The stock was sold at an average price of $49.50, for a total value of $420,007.50.
• On Monday, October 14th, Item Second Irr. Trust Fbo Jac sold 56,419 shares of Vertex stock. The shares were sold at an average price of $40.77, for a total value of $2,300,202.63.
• On Friday, October 11th, Item Second Irr. Trust Fbo Jac sold 46,098 shares of Vertex stock. The stock was 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 transaction 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 Up 1.7 %

Shares of VERX opened at $50.58 on Thursday. The stock has a 50 day moving average price of $40.91 and a 200 day moving average price of $37.09. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $7.87 billion, a price-to-earnings ratio of 281.00, a PEG ratio of 9.34 and a beta of 0.67. Vertex, Inc. has a one year low of $23.31 and a one year high of $52.93.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of VERX. SG Americas Securities LLC acquired a new stake in shares of Vertex in the first quarter valued at approximately $166,000. Oppenheimer Asset Management Inc. raised its holdings in shares of Vertex by 1.2% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 51,624 shares of the company’s stock worth $1,640,000 after acquiring an additional 589 shares during the period. Swiss National Bank boosted its position in shares of Vertex by 5.4% during the 1st quarter. Swiss National Bank now owns 101,200 shares of the company’s stock valued at $3,214,000 after acquiring an additional 5,200 shares during the last quarter. Pembroke Management LTD grew its holdings in shares of 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 purchasing an additional 666,223 shares during the period. Finally, Vanguard Group Inc. increased its position in Vertex by 4.2% during the first quarter. Vanguard Group Inc. now owns 5,791,215 shares of the company’s stock worth $183,929,000 after purchasing an additional 235,407 shares during the last quarter. 59.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VERX has been the topic of several recent analyst reports. Morgan Stanley increased their target price on shares of Vertex from $50.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday. Robert W. Baird upped their price target on Vertex from $43.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. JMP Securities raised their price objective on Vertex from $47.00 to $61.00 and gave the company a “market outperform” rating in a report on Thursday, November 7th. The Goldman Sachs Group upped their target price on Vertex from $42.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Stifel Nicolaus lifted their price target on shares of Vertex from $41.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Three 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’s stock. According to data from MarketBeat, Vertex currently has an average rating of “Moderate Buy” and an average target price 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.