Insider Selling: Vertex, Inc. (NASDAQ:VERX) Insider Sells $17,850.00 in Stock

Vertex, Inc. (NASDAQ:VERX) insider Item Second Irr. Trust Fbo Ann sold 510 shares of the firm’s stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $35.00, for a total transaction of $17,850.00. Following the sale, the insider now owns 187,499 shares in the company, valued at approximately $6,562,465. This trade represents a 0.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Tuesday, June 24th, Item Second Irr. Trust Fbo Ann sold 14,425 shares of Vertex stock. The shares were sold at an average price of $35.24, for a total value of $508,337.00.
• On Friday, June 20th, Item Second Irr. Trust Fbo Ann sold 8,832 shares of Vertex stock. The shares were sold at an average price of $35.12, for a total value of $310,179.84.
• On Wednesday, June 18th, Item Second Irr. Trust Fbo Ann sold 157,874 shares of Vertex stock. The stock was 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 shares were sold at an average price of $37.16, for a total value of $5,392,324.76.
• On Monday, June 16th, Item Second Irr. Trust Fbo Ann sold 78,248 shares of Vertex stock. The stock was sold at an average price of $36.87, for a total value of $2,885,003.76.

Vertex Stock Performance

Vertex stock opened at $33.99 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.67. The firm has a market cap of $5.39 billion, a P/E ratio of -117.20, a P/E/G ratio of 4.16 and a beta of 0.75. Vertex, Inc. has a 1-year low of $30.26 and a 1-year high of $60.71. The firm has a 50-day moving average of $38.32 and a 200-day moving average of $43.33.

Vertex (NASDAQ:VERX) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.02. The business had revenue of $177.06 million during the quarter, compared to analysts’ expectations of $176.99 million. Vertex had a positive return on equity of 28.14% and a negative net margin of 6.45%. The business’s revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the business posted $0.15 EPS. Sell-side analysts expect that Vertex, Inc. will post 0.38 EPS for the current year.

Institutional Trading of Vertex

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC purchased a new position in Vertex during the 4th quarter valued at $38,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Vertex during the 4th quarter valued at about $40,000. Plato Investment Management Ltd bought a new stake in shares of Vertex during the 4th quarter valued at about $41,000. Versant Capital Management Inc purchased a new position in shares of Vertex during the first quarter valued at about $28,000. Finally, Assetmark Inc. bought a new position in Vertex in the fourth quarter worth about $79,000. Hedge funds and other institutional investors own 70.32% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Piper Sandler initiated coverage on shares of Vertex in a research report on Monday, June 16th. They set an “overweight” rating and a $48.00 price target on the stock. Robert W. Baird reduced their target price on shares of Vertex from $62.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. Jefferies Financial Group lowered their price target on shares of Vertex from $62.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Needham & Company LLC restated a “buy” rating and set a $60.00 price target on shares of Vertex in a research report on Thursday, March 20th. Finally, DA Davidson reduced their price objective on Vertex from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.50.

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.