Bryan T.R. Rowland Sells 43,228 Shares of Vertex, Inc. (NASDAQ:VERX) Stock

Vertex, Inc. (NASDAQ:VERX) General Counsel Bryan T.R. Rowland sold 43,228 shares of Vertex stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $35.98, for a total transaction of $1,555,343.44. Following the completion of the sale, the general counsel now owns 132 shares in the company, valued at approximately $4,749.36. This represents a 99.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Vertex Price Performance

VERX stock opened at $35.71 on Friday. Vertex, Inc. has a 12 month low of $27.22 and a 12 month high of $60.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29. The company has a 50-day moving average price of $46.33 and a 200 day moving average price of $46.38. The stock has a market cap of $5.65 billion, a PE ratio of 198.39, a P/E/G ratio of 6.66 and a beta of 0.87.

Vertex (NASDAQ:VERX) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). The firm had revenue of $178.46 million for the quarter, compared to analysts’ expectations of $176.90 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. Equities research analysts anticipate that Vertex, Inc. will post 0.38 earnings per share for the current year.

Wall Street Analyst Weigh In

VERX has been the topic of a number of research reports. Stifel Nicolaus downgraded shares of Vertex from a “buy” rating to a “hold” rating and reduced their price target for the company from $58.00 to $31.00 in a report on Friday, February 28th. Jefferies Financial Group reduced their target price on shares of Vertex from $62.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Citigroup boosted their target price on shares of Vertex from $46.00 to $54.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Morgan Stanley boosted their target price on shares of Vertex from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, JMP Securities restated a “market outperform” rating and issued a $61.00 target price on shares of Vertex in a report on Monday, December 9th. Five equities 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, the company has an average rating of “Moderate Buy” and an average target price of $49.82.

Institutional Investors Weigh In On Vertex

Large investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC purchased a new stake in Vertex in the 4th quarter valued at about $38,000. Mark Sheptoff Financial Planning LLC purchased a new stake in Vertex in the 4th quarter valued at about $40,000. Plato Investment Management Ltd purchased a new stake in Vertex in the 4th quarter valued at about $41,000. Armstrong Advisory Group Inc. purchased a new stake in Vertex in the 4th quarter valued at about $50,000. Finally, Advisors Asset Management Inc. boosted its position in Vertex by 126.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock valued at $37,000 after buying an additional 540 shares during the period. 70.32% of the stock is owned by hedge funds and other institutional investors.

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.