Vertex, Inc. (NASDAQ:VERX) Insider Sells $420,007.50 in Stock

Vertex, Inc. (NASDAQ:VERX) insider Item Second Irr. Trust Fbo Jac sold 8,485 shares of Vertex stock in a transaction on Monday, November 11th. The shares were sold at an average price of $49.50, for a total transaction of $420,007.50. Following the transaction, the insider now owns 782,706 shares in the company, valued at $38,743,947. The trade was a 1.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Thursday, November 7th, Item Second Irr. Trust Fbo Jac sold 26,645 shares of Vertex stock. The shares were sold at an average price of $51.40, for a total value of $1,369,553.00.
• 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 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 value 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 Trading Down 2.2 %

Vertex stock opened at $49.45 on Friday. Vertex, Inc. has a 1 year low of $23.31 and a 1 year high of $52.93. The firm’s 50-day moving average is $40.91 and its 200-day moving average is $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 company has a market cap of $7.69 billion, a P/E ratio of 274.72, a PEG ratio of 9.49 and a beta of 0.67.

Vertex (NASDAQ:VERX) last issued its earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The firm had revenue of $170.40 million for the quarter, compared to analysts’ expectations of $165.70 million. During the same quarter last year, the company posted $0.06 earnings per share. Vertex’s revenue was up 17.5% on a year-over-year basis. On average, equities analysts expect that Vertex, Inc. will post 0.38 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on VERX shares. Robert W. Baird boosted their price target on Vertex from $43.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group upped their target price 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 raised their price target 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. Jefferies Financial Group raised shares of Vertex from a “hold” rating to a “buy” rating and upped their price target for the company from $35.00 to $50.00 in a report on Monday, November 4th. Finally, BMO Capital Markets raised their price objective on shares of Vertex from $42.00 to $52.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.30.

Institutional Trading of Vertex

Several hedge funds have recently made changes to their positions in the stock. Verdence Capital Advisors LLC grew its stake in Vertex by 6.1% during the 3rd quarter. Verdence Capital Advisors LLC now owns 8,313 shares of the company’s stock worth $320,000 after buying an additional 477 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Vertex by 126.2% during the third quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock worth $37,000 after acquiring an additional 540 shares during the last quarter. Oppenheimer Asset Management Inc. grew 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 acquiring an additional 589 shares during the last quarter. KBC Group NV increased its holdings in shares of Vertex by 46.1% in the 3rd quarter. KBC Group NV now owns 2,099 shares of the company’s stock worth $81,000 after acquiring an additional 662 shares during the period. Finally, Ellsworth Advisors LLC lifted its position in Vertex by 4.4% in the 3rd quarter. Ellsworth Advisors LLC now owns 16,707 shares of the company’s stock valued at $643,000 after purchasing an additional 697 shares during the last quarter. Institutional investors own 59.10% of the company’s stock.

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.