Vertex (NASDAQ:VERX) CAO Ryan Leib Sells 6,963 Shares of Company Stock

Vertex, Inc. (NASDAQ:VERX) CAO Ryan Leib sold 6,963 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $17.39, for a total transaction of $121,086.57. Following the sale, the chief accounting officer owned 810 shares in the company, valued at approximately $14,085.90. The trade was a 89.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Vertex Price Performance

Shares of NASDAQ:VERX opened at $17.75 on Friday. The company has a market capitalization of $2.88 billion, a P/E ratio of 34.96 and a beta of 0.77. Vertex, Inc. has a 1-year low of $10.21 and a 1-year high of $20.82. The firm’s 50 day simple moving average is $13.71 and its two-hundred day simple moving average is $13.24. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.75 and a quick ratio of 0.75.

Vertex (NASDAQ:VERX) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $213.28 million during the quarter, compared to analysts’ expectations of $209.72 million. Vertex had a negative net margin of 5.83% and a positive return on equity of 36.83%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 earnings per share. Research analysts expect that Vertex, Inc. will post 0.61 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VERX. TD Cowen cut their price target on Vertex from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, October 13th. Robert W. Baird lowered their price objective on Vertex from $19.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 4th. BMO Capital Markets upped their price objective on Vertex from $14.00 to $15.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 4th. Stephens dropped their price objective on Vertex from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, August 4th. Finally, Wall Street Zen upgraded Vertex from a “hold” rating to a “buy” rating in a research report on Sunday, October 18th. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $18.79.

Hedge Funds Weigh In On Vertex

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Advisors Asset Management Inc. bought a new stake in Vertex in the 3rd quarter valued at $238,000. Banco Santander S.A. boosted its holdings in shares of Vertex by 11.4% during the 3rd quarter. Banco Santander S.A. now owns 194,826 shares of the company’s stock valued at $2,295,000 after purchasing an additional 20,000 shares during the last quarter. Aberdeen Group plc bought a new position in shares of Vertex during the 3rd quarter valued at about $2,820,000. Russell Investments Group Ltd. boosted its holdings in shares of Vertex by 98.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 47,117 shares of the company’s stock valued at $540,000 after purchasing an additional 23,412 shares during the last quarter. Finally, Gagnon Securities LLC grew its position in shares of Vertex by 37.3% during the third quarter. Gagnon Securities LLC now owns 1,045,187 shares of the company’s stock valued at $12,312,000 after purchasing an additional 284,161 shares in the last quarter. Institutional investors own 70.32% of the company’s stock.

About Vertex

Vertex, Inc. provides tax technology and related services to businesses. Founded in 1978 and headquartered in King of Prussia, Pennsylvania, the company develops software that helps organizations manage the complexities of transaction taxes. Its products support tax determination and calculation, compliance and reporting, tax data management, and exemption certificate management. Vertex solutions are designed to integrate with business systems such as enterprise resource planning and e-commerce platforms, helping companies automate tax processes across their operations.