Item Second Irr. Trust Fbo Ann Sells 157,874 Shares of Vertex, Inc. (NASDAQ:VERX) Stock

Vertex, Inc. (NASDAQ:VERXGet Free Report) insider Item Second Irr. Trust Fbo Ann sold 157,874 shares of the business’s stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $35.93, for a total value of $5,672,412.82. Following the completion of the sale, the insider now owns 196,841 shares of the company’s stock, valued at $7,072,497.13. The trade was a 44.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

  • On Tuesday, June 17th, Item Second Irr. Trust Fbo Ann sold 145,111 shares of Vertex stock. The stock was sold at an average price of $37.16, for a total transaction of $5,392,324.76.
  • On Monday, June 16th, Item Second Irr. Trust Fbo Ann sold 78,248 shares of Vertex stock. The stock was sold at an average price of $36.87, for a total transaction of $2,885,003.76.

Vertex Trading Down 3.8%

Shares of Vertex stock opened at $35.52 on Friday. The firm has a market capitalization of $5.63 billion, a PE ratio of -122.48, a P/E/G ratio of 4.40 and a beta of 0.75. Vertex, Inc. has a twelve month low of $30.26 and a twelve month high of $60.71. The firm’s 50-day moving average price is $38.78 and its 200 day moving average price is $44.08. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.67.

Vertex (NASDAQ:VERXGet Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The firm had revenue of $177.06 million for the quarter, compared to analyst estimates of $176.99 million. Vertex had a negative net margin of 6.45% and a positive return on equity of 28.14%. Vertex’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the company posted $0.15 EPS. On average, sell-side analysts predict that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group reduced their price target on Vertex from $62.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Morgan Stanley cut their target price on Vertex from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. The Goldman Sachs Group lowered their price target on shares of Vertex from $64.00 to $48.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. DA Davidson lowered their price target on shares of Vertex from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, Piper Sandler started coverage on shares of Vertex in a report on Monday. They issued an “overweight” rating and a $48.00 price target on the stock. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.50.

Get Our Latest Research Report on Vertex

Institutional Trading of Vertex

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Vertex by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 6,858,981 shares of the company’s stock valued at $365,927,000 after acquiring an additional 137,666 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Vertex by 1.5% during the 4th quarter. Neuberger Berman Group LLC now owns 3,527,604 shares of the company’s stock worth $188,198,000 after buying an additional 53,829 shares during the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of Vertex by 30.3% during the 1st quarter. Conestoga Capital Advisors LLC now owns 2,947,740 shares of the company’s stock worth $103,200,000 after buying an additional 686,145 shares during the last quarter. FMR LLC increased its holdings in shares of Vertex by 25.4% during the 4th quarter. FMR LLC now owns 2,868,438 shares of the company’s stock worth $153,031,000 after buying an additional 580,664 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of Vertex by 63.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,429,416 shares of the company’s stock worth $85,054,000 after buying an additional 939,031 shares during the last quarter. Institutional investors and hedge funds own 70.32% of the company’s stock.

Vertex Company Profile

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for Vertex (NASDAQ:VERX)

Receive News & Ratings for Vertex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex and related companies with MarketBeat.com's FREE daily email newsletter.