John Richard Stamm Sells 2,500 Shares of Vertex, Inc. (NASDAQ:VERX) Stock

Vertex, Inc. (NASDAQ:VERX) Director John Richard Stamm sold 2,500 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $53.81, for a total transaction of $134,525.00. Following the completion of the transaction, the director now owns 15,535 shares in the company, valued at approximately $835,938.35. The trade was a 13.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Vertex Price Performance

Shares of Vertex stock opened at $54.25 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. The company has a market cap of $8.46 billion, a P/E ratio of 301.39, a PEG ratio of 10.18 and a beta of 0.67. The firm’s 50 day moving average price is $44.54 and its 200-day moving average price is $38.77. Vertex, Inc. has a 52-week low of $23.31 and a 52-week high of $55.52.

Vertex (NASDAQ:VERX) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping 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 net margin of 4.73% and a return on equity of 24.92%. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.06 earnings per share. On average, sell-side analysts predict that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Jefferies Financial Group upgraded shares of Vertex from a “hold” rating to a “buy” rating and upped their target price for the stock from $35.00 to $50.00 in a research note on Monday, November 4th. Needham & Company LLC increased their price objective on Vertex from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group lifted 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. Stifel Nicolaus increased their price target on Vertex from $41.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird lifted their price objective on Vertex from $43.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.30.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in VERX. Franklin Resources Inc. boosted its holdings in Vertex by 17.6% in the third quarter. Franklin Resources Inc. now owns 1,690,045 shares of the company’s stock worth $69,444,000 after acquiring an additional 253,263 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of Vertex in the 3rd quarter valued at approximately $2,354,000. Geode Capital Management LLC raised its position in shares of Vertex by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,275,283 shares of the company’s stock valued at $49,121,000 after purchasing an additional 37,592 shares during the last quarter. Barclays PLC boosted its stake in Vertex by 5.4% in the 3rd quarter. Barclays PLC now owns 582,273 shares of the company’s stock worth $22,424,000 after purchasing an additional 29,700 shares in the last quarter. Finally, Pier Capital LLC grew its position in Vertex by 1.8% during the 3rd quarter. Pier Capital LLC now owns 231,390 shares of the company’s stock worth $8,911,000 after purchasing an additional 4,195 shares during the last quarter. 59.10% of the stock is currently owned by hedge funds and other institutional investors.

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.