Vertex, Inc. (NASDAQ:VERX) CEO Sells $1,409,665.35 in Stock

Vertex, Inc. (NASDAQ:VERX) CEO David Destefano sold 25,607 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $55.05, for a total value of $1,409,665.35. Following the sale, the chief executive officer now owns 221,932 shares in the company, valued at approximately $12,217,356.60. This represents a 10.34 % decrease in their position. The sale was disclosed in a filing 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 stock was sold at an average price of $49.55, for a total transaction of $1,103,726.25.
• On Thursday, November 14th, David Destefano sold 159,107 shares of Vertex stock. The shares were sold at an average price of $49.61, for a total value of $7,893,298.27.

Vertex Stock Performance

NASDAQ VERX opened at $54.25 on Thursday. The firm’s 50 day simple moving average is $43.84 and its 200 day simple moving average is $38.55. The firm has a market capitalization of $8.46 billion, a price-to-earnings ratio of 301.39, a P/E/G ratio of 10.30 and a beta of 0.67. Vertex, Inc. has a 1 year low of $23.31 and a 1 year high of $55.52. 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 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The company had revenue of $170.40 million for the quarter, compared to the consensus estimate of $165.70 million. During the same quarter last year, the business posted $0.06 EPS. Vertex’s revenue for the quarter was up 17.5% on a year-over-year basis. As a group, research analysts expect that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

VERX has been the topic of several research analyst reports. BMO Capital Markets increased their price objective on shares of Vertex from $42.00 to $52.00 and gave the company a “market perform” rating in a research report on Thursday, November 7th. JMP Securities raised their price objective on shares of Vertex from $47.00 to $61.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 7th. Needham & Company LLC boosted their price objective on Vertex from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Jefferies Financial Group upgraded 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 research note on Monday, November 4th. Finally, Stifel Nicolaus lifted their price objective on shares of Vertex from $41.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. 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 stock. Based on data from MarketBeat, Vertex has an average rating of “Moderate Buy” and a consensus price target of $52.30.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. acquired a new stake in Vertex during the 2nd quarter worth approximately $28,000. Quest Partners LLC acquired a new position in shares of Vertex during the second quarter worth $37,000. Advisors Asset Management Inc. grew its stake in shares of Vertex by 126.2% in the third quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock worth $37,000 after purchasing an additional 540 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Vertex in the second quarter worth $40,000. Finally, Amalgamated Bank acquired a new stake in Vertex in the second quarter valued at $68,000. Institutional investors and hedge funds own 59.10% of the company’s stock.

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.