Vertex, Inc. (NASDAQ:VERX) Insider Sells $508,337.00 in Stock

Vertex, Inc. (NASDAQ:VERX - Get Free Report) insider Item Second Irr. Trust Fbo Ann sold 14,425 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $35.24, for a total value of $508,337.00. Following the sale, the insider now directly owns 173,074 shares of the company's stock, valued at $6,099,127.76. The trade was a 7.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Item Second Irr. Trust Fbo Ann also recently made the following trade(s):

• On Monday, June 23rd, Item Second Irr. Trust Fbo Ann sold 510 shares of Vertex stock. The shares were sold at an average price of $35.00, for a total value of $17,850.00.
• On Friday, June 20th, Item Second Irr. Trust Fbo Ann sold 8,832 shares of Vertex stock. The shares were 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 shares were 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 Up 1.1%

VERX traded up $0.37 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. The stock has a 50 day moving average of $38.62 and a two-hundred day moving average of $43.60. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.67. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 97.19, a P/E/G ratio of 4.33 and a beta of 0.75. Vertex, Inc. has a fifty-two week low of $30.26 and a fifty-two week high of $60.71.

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, beating analysts' consensus estimates of $0.13 by $0.02. The firm had revenue of $177.06 million during the quarter, compared to the consensus estimate of $176.99 million. Vertex had a positive return on equity of 28.14% and a negative net margin of 6.45%. The firm's quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.15 earnings per share. As a group, analysts forecast that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Vertex

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. lifted its stake in Vertex by 28.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 54,115 shares of the company's stock valued at $2,887,000 after buying an additional 11,966 shares during the last quarter. Norris Perne & French LLP MI purchased a new stake in shares of Vertex during the first quarter worth approximately $8,203,000. Callan Family Office LLC purchased a new stake in shares of Vertex during the fourth quarter worth approximately $534,000. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Vertex by 12.8% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 215,102 shares of the company's stock worth $11,522,000 after acquiring an additional 24,383 shares during the period. Finally, Sei Investments Co. grew its holdings in Vertex by 9.4% during the fourth quarter. Sei Investments Co. now owns 86,284 shares of the company's stock worth $4,603,000 after acquiring an additional 7,430 shares during the period. Hedge funds and other institutional investors own 70.32% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on VERX. Morgan Stanley dropped their target price on Vertex from $60.00 to $55.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. BNP Paribas initiated coverage on Vertex in a research report on Tuesday, April 22nd. They set an "outperform" rating and a $54.00 price objective for the company. Piper Sandler initiated coverage on Vertex in a research report on Monday, June 16th. They set an "overweight" rating and a $48.00 price objective for the company. Jefferies Financial Group lowered their price objective on Vertex from $62.00 to $48.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Finally, The Goldman Sachs Group lowered their price objective on Vertex from $64.00 to $48.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target 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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