Insider Selling: Vertex, Inc. (NASDAQ:VERX) Insider Sells 14,425 Shares of Stock

Vertex, Inc. (NASDAQ:VERX - Get Free Report) insider Item Second Irr. Trust Fbo Ann sold 14,425 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $35.24, for a total value of $508,337.00. Following the sale, the insider now owns 173,074 shares in the company, valued at approximately $6,099,127.76. This trade represents a 7.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through 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 transaction of $310,179.84.
• 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.
• On Monday, June 16th, Item Second Irr. Trust Fbo Ann sold 78,248 shares of Vertex stock. The stock was sold at an average price of $36.87, for a total value of $2,885,003.76.

Vertex Stock Performance

VERX traded up $0.57 during trading on Friday, reaching $34.56. 856,994 shares of the company were exchanged, compared to its average volume of 1,052,639. Vertex, Inc. has a 52 week low of $30.26 and a 52 week high of $60.71. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.67. The firm has a 50 day moving average of $38.32 and a 200 day moving average of $43.33. The stock has a market cap of $5.48 billion, a P/E ratio of -119.22, a PEG ratio of 4.16 and a beta of 0.75.

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 the consensus estimate 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 company had revenue of $177.06 million during the quarter, compared to the consensus estimate of $176.99 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. The company's revenue for the quarter was up 12.9% compared to the same quarter last year. On average, sell-side analysts forecast that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Analyst Ratings Changes

VERX has been the subject of several analyst reports. Piper Sandler initiated coverage on Vertex in a research note on Monday, June 16th. They issued an "overweight" rating and a $48.00 target price for the company. BNP Paribas assumed coverage on shares of Vertex in a research note on Tuesday, April 22nd. They set an "outperform" rating and a $54.00 price objective for the company. DA Davidson cut 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. Morgan Stanley decreased their target price on shares of Vertex from $60.00 to $55.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Needham & Company LLC restated a "buy" rating and issued a $60.00 target price on shares of Vertex in a report on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Vertex has an average rating of "Moderate Buy" and an average price target of $50.50.

Hedge Funds Weigh In On Vertex

Hedge funds and other institutional investors have recently made changes to their positions in the business. Voya Investment Management LLC increased its position in Vertex by 41.2% in the 1st quarter. Voya Investment Management LLC now owns 169,468 shares of the company's stock valued at $5,933,000 after acquiring an additional 49,430 shares during the period. Osterweis Capital Management Inc. bought a new position in shares of Vertex in the first quarter valued at approximately $8,744,000. Rhumbline Advisers increased its stake in shares of Vertex by 5.6% during the first quarter. Rhumbline Advisers now owns 84,152 shares of the company's stock valued at $2,946,000 after acquiring an additional 4,477 shares during the period. Strs Ohio acquired a new position in shares of Vertex during the first quarter valued at approximately $690,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Vertex by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,935 shares of the company's stock worth $2,869,000 after purchasing an additional 3,461 shares in the last quarter. 70.32% of the stock is currently owned by institutional investors and hedge funds.

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.