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 Vertex stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $51.40, for a total transaction of $1,369,553.00. Following the completion of the transaction, the insider now directly owns 906,061 shares of the company’s stock, valued at $46,571,535.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 transaction of $420,007.50.
• 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 shares were 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 value 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 value of $2,162,287.26.

Vertex Price Performance

Shares of Vertex stock traded up $0.46 during mid-day trading on Tuesday, reaching $49.75. 1,235,598 shares of the stock were exchanged, compared to its average volume of 785,133. The firm has a 50-day simple moving average of $40.36 and a 200 day simple moving average of $36.86. The company has a market cap of $7.74 billion, a price-to-earnings ratio of 273.83, a price-to-earnings-growth ratio of 14.86 and a beta of 0.67. Vertex, Inc. has a fifty-two week low of $23.31 and a fifty-two week high of $52.93. The company has a current ratio of 1.04, a quick ratio of 1.17 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. The business had revenue of $170.40 million for the quarter, compared to analyst estimates of $165.70 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. Vertex’s revenue was up 17.5% compared to the same quarter last year. During the same period last year, the firm posted $0.06 earnings per share. On average, sell-side analysts predict that Vertex, Inc. will post 0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Vertex

Several institutional investors and hedge funds have recently modified their holdings of VERX. Silvercrest Asset Management Group LLC lifted its position in Vertex by 13.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 712,926 shares of the company’s stock worth $22,643,000 after acquiring an additional 85,237 shares during the period. Driehaus Capital Management LLC purchased a new position in shares of Vertex in the second quarter valued at $22,173,000. Quadrature Capital Ltd boosted its position in shares of Vertex by 24.7% in the first quarter. Quadrature Capital Ltd now owns 92,167 shares of the company’s stock worth $2,927,000 after acquiring an additional 18,258 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Vertex by 10.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 248,001 shares of the company’s stock worth $8,940,000 after buying an additional 22,514 shares during the period. Finally, Federated Hermes Inc. acquired a new stake in shares of Vertex during the second quarter worth $1,824,000. 59.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on VERX. Stifel Nicolaus lifted their price objective 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. JMP Securities increased their target price on Vertex from $47.00 to $61.00 and gave the company a “market outperform” rating in a report on Thursday, November 7th. Robert W. Baird boosted their target price on Vertex from $43.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Jefferies Financial Group upgraded Vertex from a “hold” rating to a “buy” rating and upped their price target for the stock 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 research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.22.

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.