Vertex, Inc. (NASDAQ:VERX) Major Shareholder Sells $735,764.98 in Stock

Vertex, Inc. (NASDAQ:VERX) major shareholder Item Second Irr. Trust Fbo Kyl sold 13,346 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $55.13, for a total value of $735,764.98. Following the completion of the sale, the insider now owns 1,344,754 shares of the company’s stock, valued at approximately $74,136,288.02. The trade was a 0.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Item Second Irr. Trust Fbo Kyl also recently made the following trade(s):

• On Wednesday, November 20th, Item Second Irr. Trust Fbo Kyl sold 40,966 shares of Vertex stock. The shares were sold at an average price of $52.16, for a total value of $2,136,786.56.

Vertex Trading Up 0.5 %

Shares of Vertex stock opened at $54.90 on Thursday. Vertex, Inc. has a twelve month low of $23.31 and a twelve month high of $57.74. 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 business has a 50-day moving average price of $47.67 and a 200-day moving average price of $40.25. The firm has a market cap of $8.56 billion, a price-to-earnings ratio of 305.00, a PEG ratio of 10.57 and a beta of 0.77.

Vertex (NASDAQ:VERX) last released its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $165.70 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 EPS. Equities research analysts anticipate that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Vertex

Several large investors have recently bought and sold shares of the business. Blue Trust Inc. purchased a new position in shares of Vertex in the 2nd quarter worth $28,000. Advisors Asset Management Inc. lifted its holdings in shares of 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 acquiring an additional 540 shares during the last quarter. Quest Partners LLC bought a new position in shares of Vertex in the 2nd quarter valued at about $37,000. Canada Pension Plan Investment Board purchased a new position in Vertex in the second quarter worth about $40,000. Finally, Amalgamated Bank bought a new stake in Vertex during the second quarter worth approximately $68,000. Institutional investors own 59.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on VERX. Robert W. Baird raised their target price on shares of Vertex from $43.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Stifel Nicolaus raised their price objective on shares of Vertex from $41.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group lifted their target price on shares of Vertex from $42.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group upgraded Vertex from a “hold” rating to a “buy” rating and increased their price target for the stock from $35.00 to $50.00 in a research note on Monday, November 4th. Finally, Morgan Stanley raised their price target on Vertex from $50.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $52.30.

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.