Insider Selling: Vertex, Inc. (NASDAQ:VERX) Insider Sells 510 Shares of Stock

Vertex, Inc. (NASDAQ:VERX - Get Free Report) insider Item Second Irr. Trust Fbo Ann sold 510 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was 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 owns 187,499 shares of the company's stock, valued at $6,562,465. The trade was a 0.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 shares were sold at an average price of $35.24, for a total transaction 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 transaction of $310,179.84.
• On Wednesday, June 18th, Item Second Irr. Trust Fbo Ann sold 157,874 shares of Vertex stock. The shares were sold at an average price of $35.93, for a total transaction 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 shares were sold at an average price of $36.87, for a total value of $2,885,003.76.

Vertex Price Performance

Shares of VERX traded up $0.57 during trading hours on Friday, reaching $34.56. The company had a trading volume of 856,994 shares, compared to its average volume of 1,052,639. 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, Inc. has a 12-month low of $30.26 and a 12-month high of $60.71. The firm has a 50 day simple moving average of $38.32 and a 200-day simple moving average of $43.33. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of -119.22, a PEG ratio of 4.16 and a beta of 0.75.

Vertex (NASDAQ:VERX - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $177.06 million during the quarter, compared to analysts' expectations of $176.99 million. During the same period in the previous year, the firm posted $0.15 earnings per share. Vertex's revenue was up 12.9% on a year-over-year basis. Research analysts expect that Vertex, Inc. will post 0.38 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on VERX. Robert W. Baird cut their price target on Vertex from $62.00 to $45.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. Jefferies Financial Group cut their target price on shares of Vertex from $62.00 to $48.00 and set a "buy" rating on the stock in a report on Friday, February 28th. DA Davidson reduced their price target on shares of Vertex from $55.00 to $50.00 and set a "buy" rating for the company in a research report on Monday, April 14th. The Goldman Sachs Group dropped their price objective on shares of Vertex from $64.00 to $48.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Finally, BNP Paribas initiated coverage on shares of Vertex in a report on Tuesday, April 22nd. They issued an "outperform" rating and a $54.00 target price for the company. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $50.50.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC purchased a new position in Vertex during the fourth quarter worth $38,000. Mark Sheptoff Financial Planning LLC acquired a new position in Vertex in the 4th quarter valued at about $40,000. Plato Investment Management Ltd purchased a new position in Vertex in the 4th quarter valued at about $41,000. Versant Capital Management Inc acquired a new stake in shares of Vertex during the 1st quarter worth about $28,000. Finally, Assetmark Inc. purchased a new stake in shares of Vertex during the fourth quarter worth about $79,000. 70.32% of the stock is owned by hedge funds and other institutional investors.

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.