Vertex, Inc. (NASDAQ:VERX) Insider Sells $310,179.84 in Stock

Vertex, Inc. (NASDAQ:VERX - Get Free Report) insider Item Second Irr. Trust Fbo Ann sold 8,832 shares of the company's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $35.12, for a total transaction of $310,179.84. Following the completion of the sale, the insider now owns 188,009 shares of the company's stock, valued at $6,602,876.08. This represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 transaction of $508,337.00.
• On Monday, June 23rd, Item Second Irr. Trust Fbo Ann sold 510 shares of Vertex stock. The stock was sold at an average price of $35.00, for a total value of $17,850.00.
• 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 shares were 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 NASDAQ VERX traded up $0.37 during mid-day trading on Tuesday, hitting $35.36. 1,830,319 shares of the stock were exchanged, compared to its average volume of 1,048,663. The company has a market cap of $5.60 billion, a P/E ratio of 97.19, a PEG ratio of 4.33 and a beta of 0.75. The stock's fifty day simple moving average is $38.62 and its two-hundred day simple moving average is $43.60. 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, Inc. has a twelve month low of $30.26 and a twelve month high of $60.71.

Vertex (NASDAQ:VERX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.02. The firm 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%. Vertex's revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.15 EPS. As a group, analysts forecast that Vertex, Inc. will post 0.38 EPS 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. Summit Investment Advisors Inc. boosted its stake in Vertex by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,678 shares of the company's stock valued at $303,000 after acquiring an additional 361 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in Vertex by 25.7% in the first quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company's stock valued at $68,000 after acquiring an additional 395 shares during the last quarter. Cetera Investment Advisers boosted its stake in Vertex by 8.3% in the fourth quarter. Cetera Investment Advisers now owns 7,645 shares of the company's stock valued at $408,000 after acquiring an additional 588 shares during the last quarter. Westover Capital Advisors LLC boosted its stake in Vertex by 1.2% in the fourth quarter. Westover Capital Advisors LLC now owns 55,427 shares of the company's stock valued at $2,957,000 after acquiring an additional 632 shares during the last quarter. Finally, State of Wyoming boosted its stake in Vertex by 16.1% in the first quarter. State of Wyoming now owns 4,669 shares of the company's stock valued at $163,000 after acquiring an additional 649 shares during the last quarter. 70.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on VERX. Jefferies Financial Group cut their target price 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. Morgan Stanley cut their price objective on shares of Vertex from $60.00 to $55.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. The Goldman Sachs Group cut their price objective on shares of Vertex from $64.00 to $48.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Robert W. Baird cut their price objective on shares of Vertex from $62.00 to $45.00 and set an "outperform" rating for the company in a research report on Friday, February 28th. Finally, DA Davidson cut their price objective 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. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.