Item Second Irr. Trust Fbo Ann Sells 157,874 Shares of Vertex, Inc. (NASDAQ:VERX) Stock

Vertex, Inc. (NASDAQ:VERX - Get Free Report) insider Item Second Irr. Trust Fbo Ann sold 157,874 shares of Vertex stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $35.93, for a total transaction of $5,672,412.82. Following the completion of the transaction, the insider now owns 196,841 shares in the company, valued at $7,072,497.13. This trade represents a 44.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 transaction of $2,885,003.76.

Vertex Price Performance

Shares of Vertex stock 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 company has a debt-to-equity ratio of 1.67, a current ratio of 0.98 and a quick ratio of 0.98. The firm's fifty day moving average price is $38.78 and its 200 day moving average price is $44.08. Vertex, Inc. has a twelve month low of $30.26 and a twelve month high of $60.71. The company has a market cap of $5.63 billion, a PE ratio of -122.48, a PEG ratio of 4.40 and a beta of 0.75.

Vertex (NASDAQ:VERX - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.15 earnings per share 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 business had revenue of $177.06 million for the quarter, compared to analyst estimates of $176.99 million. During the same period in the previous year, the business earned $0.15 EPS. The firm's revenue was up 12.9% on a year-over-year basis. Analysts forecast that Vertex, Inc. will post 0.38 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of Vertex from $64.00 to $48.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Robert W. Baird decreased their price target on shares of Vertex from $62.00 to $45.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. Needham & Company LLC restated a "buy" rating and issued a $60.00 price target on shares of Vertex in a research report on Thursday, March 20th. DA Davidson decreased their price target on shares of Vertex from $55.00 to $50.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Jefferies Financial Group decreased their price target 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. Four research 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 company's stock. According to MarketBeat, Vertex presently has an average rating of "Moderate Buy" and an average target price of $50.50.

Hedge Funds Weigh In On Vertex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Vertex by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 6,858,981 shares of the company's stock valued at $365,927,000 after buying an additional 137,666 shares in the last quarter. Neuberger Berman Group LLC boosted its position in Vertex by 1.5% in the fourth quarter. Neuberger Berman Group LLC now owns 3,527,604 shares of the company's stock valued at $188,198,000 after buying an additional 53,829 shares in the last quarter. Conestoga Capital Advisors LLC boosted its position in Vertex by 30.3% in the first quarter. Conestoga Capital Advisors LLC now owns 2,947,740 shares of the company's stock valued at $103,200,000 after buying an additional 686,145 shares in the last quarter. FMR LLC boosted its position in Vertex by 25.4% in the fourth quarter. FMR LLC now owns 2,868,438 shares of the company's stock valued at $153,031,000 after buying an additional 580,664 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its position in Vertex by 63.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,429,416 shares of the company's stock valued at $85,054,000 after buying an additional 939,031 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.