Vertex, Inc. (NASDAQ:VERX) Insider Item Second Irr. Trust Fbo Ann Sells 78,248 Shares of Stock

Vertex, Inc. (NASDAQ:VERX) insider Item Second Irr. Trust Fbo Ann sold 78,248 shares of the firm’s stock in a transaction 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 SEC, which is available through 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 shares were 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 transaction of $5,392,324.76.

Vertex Stock Performance

NASDAQ VERX opened at $35.52 on Thursday. The business’s 50 day moving average price is $38.83 and its 200-day moving average price is $44.21. Vertex, Inc. has a fifty-two week low of $30.26 and a fifty-two week high of $60.71. The company has a market cap of $5.63 billion, a P/E ratio of -122.48, a P/E/G ratio of 4.58 and a beta of 0.75. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.98 and a current ratio of 0.98.

Vertex (NASDAQ:VERX) last announced its earnings results on Wednesday, May 7th. The company reported $0.15 earnings per share 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 the consensus estimate of $176.99 million. Vertex had a negative net margin of 6.45% and a positive return on equity of 28.14%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 earnings per share. Sell-side analysts predict that Vertex, Inc. will post 0.38 earnings per share for the current year.

Analyst Ratings Changes

VERX has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $60.00 price target on shares of Vertex in a report on Thursday, March 20th. Piper Sandler assumed coverage on Vertex in a research note on Monday. They set an “overweight” rating and a $48.00 target price on the stock. Jefferies Financial Group lowered their price target on Vertex from $62.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Morgan Stanley cut their price objective on shares of Vertex from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Finally, DA Davidson lowered their target price 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. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Vertex presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.50.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. D. E. Shaw & Co. Inc. boosted its holdings in Vertex by 28.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 54,115 shares of the company’s stock valued at $2,887,000 after acquiring an additional 11,966 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Vertex by 1,100.4% during the fourth quarter. Principal Financial Group Inc. now owns 572,245 shares of the company’s stock valued at $30,530,000 after purchasing an additional 524,572 shares during the period. Callan Family Office LLC bought a new position in shares of Vertex in the fourth quarter worth about $534,000. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Vertex by 12.8% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 215,102 shares of the company’s stock valued at $11,522,000 after buying an additional 24,383 shares in the last quarter. Finally, Sei Investments Co. grew its stake in Vertex by 9.4% in the fourth quarter. Sei Investments Co. now owns 86,284 shares of the company’s stock worth $4,603,000 after purchasing an additional 7,430 shares in the last quarter. Hedge funds and other institutional investors 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.