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

Vertex, Inc. (NASDAQ:VERX - Get Free Report) insider Item Second Irr. Trust Fbo Ann sold 157,874 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $35.93, for a total value of $5,672,412.82. Following the transaction, the insider now directly owns 196,841 shares of the company's stock, valued at $7,072,497.13. The trade was a 44.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 value 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 Price Performance

NASDAQ:VERX traded down $1.55 on Friday, reaching $33.97. 3,051,033 shares of the company's stock traded hands, compared to its average volume of 1,038,531. 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 stock has a 50-day simple moving average of $38.69 and a 200-day simple moving average of $43.92. The firm has a market cap of $5.38 billion, a PE ratio of -117.13, a P/E/G ratio of 4.40 and a beta of 0.75. Vertex, Inc. has a 12 month low of $30.26 and a 12 month high of $60.71.

Vertex (NASDAQ:VERX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.15 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.02. The business had revenue of $177.06 million for the quarter, compared to analysts' expectations of $176.99 million. Vertex had a positive return on equity of 28.14% and a negative net margin of 6.45%. The business's quarterly revenue was up 12.9% on a year-over-year basis. During the same period last year, the firm earned $0.15 earnings per share. Equities research analysts forecast that Vertex, Inc. will post 0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group dropped their price target on Vertex from $64.00 to $48.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Piper Sandler assumed coverage on Vertex in a research note on Monday, June 16th. They issued an "overweight" rating and a $48.00 price target on the stock. Morgan Stanley dropped their price target on Vertex from $60.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Robert W. Baird dropped their price target on Vertex from $62.00 to $45.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. Finally, Stifel Nicolaus downgraded Vertex from a "buy" rating to a "hold" rating and dropped their price target for the stock from $58.00 to $31.00 in a research note on Friday, February 28th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Vertex has a consensus rating of "Moderate Buy" and an average target price of $50.50.

Institutional Investors Weigh In On Vertex

Institutional investors and hedge funds have recently bought and sold shares of the business. Summit Investment Advisors Inc. lifted its position in shares of Vertex by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,678 shares of the company's stock worth $303,000 after buying an additional 361 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Vertex by 25.7% in 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 in the last quarter. Cetera Investment Advisers lifted its position in shares of Vertex by 8.3% in the fourth quarter. Cetera Investment Advisers now owns 7,645 shares of the company's stock worth $408,000 after buying an additional 588 shares in the last quarter. Westover Capital Advisors LLC lifted its position in shares of Vertex by 1.2% in the fourth quarter. Westover Capital Advisors LLC now owns 55,427 shares of the company's stock worth $2,957,000 after buying an additional 632 shares in the last quarter. Finally, State of Wyoming lifted its position in shares of Vertex by 16.1% in the first quarter. State of Wyoming now owns 4,669 shares of the company's stock worth $163,000 after buying an additional 649 shares in the last quarter. 70.32% of the stock is owned by institutional investors.

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.