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

Vertex, Inc. (NASDAQ:VERX - Get Free Report) insider Item Second Irr. Trust Fbo Ann sold 510 shares of the stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $35.00, for a total value of $17,850.00. Following the completion of the transaction, the insider now directly owns 187,499 shares in the company, valued at $6,562,465. This trade represents a 0.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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 stock was 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 stock was 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 stock was 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

VERX traded up $0.37 during trading on Tuesday, reaching $35.36. The company's stock had a trading volume of 1,830,319 shares, compared to its average volume of 1,048,663. Vertex, Inc. has a 52-week low of $30.26 and a 52-week high of $60.71. The company's fifty day moving average price is $38.53 and its 200-day moving average price is $43.54. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of -121.93, a price-to-earnings-growth ratio of 4.33 and a beta of 0.75. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.98 and a current ratio of 0.98.

Vertex (NASDAQ:VERX - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.15 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.02. Vertex had a positive return on equity of 28.14% and a negative net margin of 6.45%. The company had revenue of $177.06 million for the quarter, compared to analyst estimates of $176.99 million. During the same quarter in the previous year, the company earned $0.15 EPS. The firm's revenue for the quarter was up 12.9% compared to the same quarter last year. On average, equities analysts forecast that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vertex

Hedge funds and other institutional investors have recently modified their holdings of the stock. D. E. Shaw & Co. Inc. lifted its position in shares of Vertex by 28.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 54,115 shares of the company's stock valued at $2,887,000 after acquiring an additional 11,966 shares during the period. Norris Perne & French LLP MI acquired a new stake in shares of Vertex during the 1st quarter valued at approximately $8,203,000. Callan Family Office LLC acquired a new stake in shares of Vertex during the 4th quarter valued at approximately $534,000. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Vertex by 12.8% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 215,102 shares of the company's stock valued at $11,522,000 after acquiring an additional 24,383 shares during the period. Finally, Sei Investments Co. lifted its position in shares of Vertex by 9.4% during the 4th quarter. Sei Investments Co. now owns 86,284 shares of the company's stock valued at $4,603,000 after acquiring an additional 7,430 shares during the period. 70.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on VERX. Stifel Nicolaus cut Vertex from a "buy" rating to a "hold" rating and cut their target price for the stock from $58.00 to $31.00 in a research report on Friday, February 28th. BNP Paribas initiated coverage on Vertex in a report on Tuesday, April 22nd. They set an "outperform" rating and a $54.00 price target on the stock. The Goldman Sachs Group lowered their price target on Vertex from $64.00 to $48.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Piper Sandler initiated coverage on Vertex in a report on Monday, June 16th. They set an "overweight" rating and a $48.00 price target on the stock. Finally, Jefferies Financial Group lowered their price target on Vertex from $62.00 to $48.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price 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.

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