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 Vertex stock in a transaction on Friday, June 20th. The shares were sold at an average price of $35.12, for a total value of $310,179.84. Following the completion of the transaction, the insider now owns 188,009 shares of the company's stock, valued at approximately $6,602,876.08. The trade was a 4.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 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 Stock Performance

Shares of Vertex stock traded up $0.57 on Friday, hitting $34.56. The stock had a trading volume of 856,994 shares, compared to its average volume of 1,052,639. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of -119.22, a price-to-earnings-growth ratio of 4.16 and a beta of 0.75. The business's 50 day moving average is $38.32 and its two-hundred day moving average is $43.33. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.67. 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. 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 for the quarter, compared to analysts' expectations of $176.99 million. During the same quarter last year, the business earned $0.15 EPS. The company's quarterly revenue was up 12.9% compared to the same quarter last year. Analysts forecast that Vertex, Inc. will post 0.38 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Piper Sandler assumed coverage on shares of Vertex in a report on Monday, June 16th. They issued an "overweight" rating and a $48.00 price target for the company. Jefferies Financial Group cut their price objective on shares of Vertex from $62.00 to $48.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. DA Davidson decreased their price objective on Vertex from $55.00 to $50.00 and set a "buy" rating for the company in a report on Monday, April 14th. Needham & Company LLC reiterated a "buy" rating and set a $60.00 target price on shares of Vertex in a report on Thursday, March 20th. Finally, Morgan Stanley decreased their price target on Vertex from $60.00 to $55.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Four 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 data from MarketBeat, Vertex presently has an average rating of "Moderate Buy" and a consensus target price of $50.50.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new stake in shares of Vertex in the 1st quarter valued at approximately $28,000. Steward Partners Investment Advisory LLC bought a new position in Vertex in the 4th quarter valued at approximately $38,000. Mark Sheptoff Financial Planning LLC bought a new position in Vertex in the 4th quarter valued at approximately $40,000. Plato Investment Management Ltd acquired a new stake in Vertex in the fourth quarter valued at approximately $41,000. Finally, Advisors Asset Management Inc. grew its stake in shares of Vertex by 25.7% during 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 during the last quarter. 70.32% of the stock is owned by 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.