Insider Selling: Vertex, Inc. (NASDAQ:VERX) Insider Sells 78,248 Shares of Stock

Vertex, Inc. (NASDAQ:VERX) insider Item Second Irr. Trust Fbo Ann sold 78,248 shares of Vertex stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $36.87, for a total value of $2,885,003.76. Following the completion of the transaction, the insider now directly owns 499,826 shares in the company, valued at approximately $18,428,584.62. This represents a 13.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, June 18th, Item Second Irr. Trust Fbo Ann sold 157,874 shares of Vertex stock. The stock was sold at an average price of $35.93, for a total value of $5,672,412.82.
• 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 value of $5,392,324.76.

Vertex Price Performance

Shares of VERX stock opened at $33.97 on Friday. The stock’s fifty day simple moving average is $38.69 and its 200 day simple moving average is $43.92. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $5.38 billion, a price-to-earnings ratio of -117.13, a P/E/G ratio of 4.40 and a beta of 0.75. Vertex, Inc. has a one year low of $30.26 and a one year high of $60.71.

Vertex (NASDAQ:VERX) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. The business had revenue of $177.06 million for the quarter, compared to analyst estimates of $176.99 million. Vertex had a positive return on equity of 28.14% and a negative net margin of 6.45%. Vertex’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.15 EPS. On average, analysts expect that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on VERX shares. DA Davidson dropped their price target on Vertex from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Robert W. Baird lowered their price target on Vertex from $62.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. BNP Paribas assumed coverage on Vertex in a research note on Tuesday, April 22nd. They set an “outperform” rating and a $54.00 price target on the stock. Stifel Nicolaus lowered Vertex from a “buy” rating to a “hold” rating and lowered their price target for the company from $58.00 to $31.00 in a research note on Friday, February 28th. Finally, Morgan Stanley lowered their price target on Vertex from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $50.50.

Institutional Trading of Vertex

Several institutional investors have recently bought and sold shares of VERX. Versant Capital Management Inc acquired a new stake in Vertex in the 1st quarter valued at $28,000. Steward Partners Investment Advisory LLC acquired a new position in Vertex in the fourth quarter worth $38,000. Mark Sheptoff Financial Planning LLC acquired a new position in Vertex in the fourth quarter worth $40,000. Plato Investment Management Ltd acquired a new position in Vertex in the fourth quarter worth $41,000. Finally, Advisors Asset Management Inc. boosted its stake in Vertex by 25.7% in the first quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock worth $68,000 after purchasing an additional 395 shares in the last quarter. Institutional investors and hedge funds own 70.32% 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.