Insider Selling: Vertex, Inc. (NASDAQ:VERX) Insider Sells 78,248 Shares of Stock

Vertex, Inc. (NASDAQ:VERX - Get Free Report) insider Item Second Irr. Trust Fbo Ann sold 78,248 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $36.87, for a total transaction of $2,885,003.76. Following the completion of the transaction, the insider now directly owns 499,826 shares in the company, valued at $18,428,584.62. This trade represents a 13.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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 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 transaction of $5,392,324.76.

Vertex Stock Performance

NASDAQ VERX traded down $1.42 during trading on Thursday, hitting $35.52. 1,558,093 shares of the company's stock traded hands, compared to its average volume of 1,029,671. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of -122.48, a PEG ratio of 4.40 and a beta of 0.75. Vertex, Inc. has a 12-month low of $30.26 and a 12-month high of $60.71. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.98 and a current ratio of 0.98. The business 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 announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.02. Vertex had a negative net margin of 6.45% and a positive return on equity of 28.14%. The firm had revenue of $177.06 million for the quarter, compared to the consensus estimate of $176.99 million. During the same period in the prior year, the firm posted $0.15 earnings per share. The company's revenue for the quarter was up 12.9% on a year-over-year basis. As a group, equities research analysts anticipate that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vertex

A number of institutional investors and hedge funds have recently modified their holdings of VERX. Versant Capital Management Inc purchased a new stake in shares of Vertex in the first quarter worth about $28,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Vertex in the fourth quarter worth about $38,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Vertex in the fourth quarter worth about $40,000. Plato Investment Management Ltd purchased a new stake in shares of Vertex in the fourth quarter worth about $41,000. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Vertex by 25.7% in the first quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company's stock worth $68,000 after buying an additional 395 shares in the last quarter. 70.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on VERX shares. Morgan Stanley cut their price target on shares of Vertex from $60.00 to $55.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Robert W. Baird cut their price target 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. BNP Paribas started coverage on shares of Vertex in a report on Tuesday, April 22nd. They issued an "outperform" rating and a $54.00 price target on the stock. Piper Sandler initiated coverage on shares of Vertex in a report on Monday. They issued an "overweight" rating and a $48.00 price target on the stock. Finally, DA Davidson dropped their price objective on shares of Vertex from $55.00 to $50.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Vertex presently has a consensus rating of "Moderate Buy" and a consensus 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.