Item Second Irr. Trust Fbo Ann Sells 145,111 Shares of Vertex, Inc. (NASDAQ:VERX) Stock

Vertex, Inc. (NASDAQ:VERX - Get Free Report) insider Item Second Irr. Trust Fbo Ann sold 145,111 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $37.16, for a total transaction of $5,392,324.76. Following the completion of the transaction, the insider now directly owns 354,715 shares of the company's stock, valued at approximately $13,181,209.40. This represents a 29.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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 stock was sold at an average price of $35.93, for a total transaction of $5,672,412.82.
• 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 transaction of $2,885,003.76.

Vertex Stock Down 3.8%

Shares of Vertex stock traded down $1.42 on Thursday, hitting $35.52. The company had a trading volume of 1,558,093 shares, compared to its average volume of 1,029,671. The firm has a market capitalization of $5.63 billion, a P/E ratio of -122.48, a P/E/G ratio of 4.40 and a beta of 0.75. Vertex, Inc. has a twelve month low of $30.26 and a twelve month high of $60.71. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a 50-day moving average of $38.78 and a 200-day moving average of $44.08.

Vertex (NASDAQ:VERX - Get Free Report) last released its quarterly 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 company had revenue of $177.06 million during the quarter, compared to analysts' expectations 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 quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.15 earnings per share. Research analysts predict that Vertex, Inc. will post 0.38 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. D. E. Shaw & Co. Inc. boosted its holdings in shares of Vertex by 28.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 54,115 shares of the company's stock valued at $2,887,000 after buying an additional 11,966 shares during the period. Principal Financial Group Inc. boosted its holdings in Vertex by 1,100.4% during the fourth quarter. Principal Financial Group Inc. now owns 572,245 shares of the company's stock worth $30,530,000 after purchasing an additional 524,572 shares during the last quarter. Callan Family Office LLC acquired a new position in Vertex during the fourth quarter worth $534,000. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Vertex by 12.8% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 215,102 shares of the company's stock worth $11,522,000 after purchasing an additional 24,383 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Vertex by 9.4% during 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 during the last quarter. Institutional investors and hedge funds own 70.32% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on VERX shares. The Goldman Sachs Group dropped their price target on shares of Vertex from $64.00 to $48.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. Morgan Stanley dropped their price target on shares of Vertex from $60.00 to $55.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. BNP Paribas started coverage on shares of Vertex in a research note on Tuesday, April 22nd. They set an "outperform" rating and a $54.00 price target for the company. Piper Sandler started coverage on shares of Vertex in a research note on Monday. They set an "overweight" rating and a $48.00 price target for the company. Finally, Jefferies Financial Group dropped 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. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Vertex currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.50.

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.