Vertex, Inc. (NASDAQ:VERX) Insider Sells $5,392,324.76 in Stock

Vertex, Inc. (NASDAQ:VERX - Get Free Report) insider Item Second Irr. Trust Fbo Ann sold 145,111 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $37.16, for a total value of $5,392,324.76. Following the completion of the transaction, the insider now directly owns 354,715 shares in the company, valued at approximately $13,181,209.40. This trade represents a 29.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 value of $5,672,412.82.
• On Monday, June 16th, Item Second Irr. Trust Fbo Ann sold 78,248 shares of Vertex stock. The shares were sold at an average price of $36.87, for a total value of $2,885,003.76.

Vertex Stock Performance

Shares of VERX traded down $1.55 during mid-day trading on Friday, hitting $33.97. 3,051,033 shares of the company's stock were exchanged, compared to its average volume of 1,038,531. Vertex, Inc. has a fifty-two week low of $30.26 and a fifty-two week high of $60.71. The firm has a market capitalization of $5.38 billion, a P/E ratio of -117.13, a P/E/G ratio of 4.40 and a beta of 0.75. The business's 50 day moving average is $38.69 and its two-hundred day moving average is $43.92. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.67.

Vertex (NASDAQ:VERX - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.15 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.02. The firm had revenue of $177.06 million during 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 firm's revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.15 earnings per share. On average, equities analysts expect that Vertex, Inc. will post 0.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

VERX has been the subject of several analyst reports. Jefferies Financial Group decreased their price objective on Vertex from $62.00 to $48.00 and set a "buy" rating for the company in a report on Friday, February 28th. Piper Sandler initiated coverage on Vertex in a report on Monday, June 16th. They set an "overweight" rating and a $48.00 price objective for the company. Needham & Company LLC reiterated a "buy" rating and set a $60.00 price objective on shares of Vertex in a report on Thursday, March 20th. Stifel Nicolaus downgraded Vertex from a "buy" rating to a "hold" rating and cut their target price for the company from $58.00 to $31.00 in a research report on Friday, February 28th. Finally, BNP Paribas began coverage on Vertex in a research report on Tuesday, April 22nd. They set an "outperform" rating and a $54.00 price target on the stock. Four research 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 company's stock. According to data from MarketBeat.com, Vertex presently has a consensus rating of "Moderate Buy" and an average price target of $50.50.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in VERX. Rhumbline Advisers increased its holdings in Vertex by 5.1% in the fourth quarter. Rhumbline Advisers now owns 79,675 shares of the company's stock valued at $4,251,000 after buying an additional 3,900 shares in the last quarter. Principal Financial Group Inc. boosted its position 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 acquiring an additional 524,572 shares during the last quarter. Handelsbanken Fonder AB boosted its position in Vertex by 6.8% during the fourth quarter. Handelsbanken Fonder AB now owns 12,500 shares of the company's stock worth $667,000 after acquiring an additional 800 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Vertex in the 4th quarter valued at $153,000. Finally, Sigma Planning Corp boosted its holdings in shares of Vertex by 15.0% in the 4th quarter. Sigma Planning Corp now owns 10,908 shares of the company's stock valued at $582,000 after purchasing an additional 1,421 shares during the last quarter. 70.32% of the stock is owned by hedge funds and other institutional investors.

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.