Vertex, Inc. (NASDAQ:VERX) Insider Item Second Irr. Trust Fbo Jac Sells 26,645 Shares

Vertex, Inc. (NASDAQ:VERXGet Free Report) insider Item Second Irr. Trust Fbo Jac sold 26,645 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $51.40, for a total value of $1,369,553.00. Following the completion of the transaction, the insider now directly owns 906,061 shares in the company, valued at approximately $46,571,535.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

  • On Monday, November 11th, Item Second Irr. Trust Fbo Jac sold 8,485 shares of Vertex stock. The shares were sold at an average price of $49.50, for a total transaction of $420,007.50.
  • On Monday, October 14th, Item Second Irr. Trust Fbo Jac sold 56,419 shares of Vertex stock. The stock was sold at an average price of $40.77, for a total transaction of $2,300,202.63.
  • On Friday, October 11th, Item Second Irr. Trust Fbo Jac sold 46,098 shares of Vertex stock. The shares were sold at an average price of $40.48, for a total transaction of $1,866,047.04.
  • On Wednesday, October 9th, Item Second Irr. Trust Fbo Jac sold 49,114 shares of Vertex stock. The stock was sold at an average price of $41.31, for a total transaction of $2,028,899.34.
  • On Monday, October 7th, Item Second Irr. Trust Fbo Jac sold 52,713 shares of Vertex stock. The shares were sold at an average price of $41.02, for a total value of $2,162,287.26.

Vertex Stock Up 1.7 %

Shares of Vertex stock opened at $50.58 on Thursday. Vertex, Inc. has a 52-week low of $23.31 and a 52-week high of $52.93. The company has a 50 day moving average of $40.91 and a 200 day moving average of $37.09. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $7.87 billion, a P/E ratio of 281.00, a P/E/G ratio of 9.34 and a beta of 0.67.

Vertex (NASDAQ:VERXGet Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. The business had revenue of $170.40 million during the quarter, compared to analysts’ expectations of $165.70 million. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.06 EPS. As a group, research analysts forecast that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Blue Trust Inc. purchased a new stake in Vertex during the second quarter worth approximately $28,000. Quest Partners LLC purchased a new stake in shares of Vertex during the 2nd quarter worth approximately $37,000. Advisors Asset Management Inc. boosted its holdings in shares of Vertex by 126.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock valued at $37,000 after buying an additional 540 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Vertex during the 2nd quarter worth $40,000. Finally, Amalgamated Bank purchased a new stake in Vertex in the second quarter valued at $68,000. Hedge funds and other institutional investors own 59.10% of the company’s stock.

Analyst Ratings Changes

VERX has been the subject of a number of research reports. Jefferies Financial Group raised Vertex from a “hold” rating to a “buy” rating and lifted their price objective for the company from $35.00 to $50.00 in a research note on Monday, November 4th. Morgan Stanley lifted their target price on Vertex from $50.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday. Baird R W raised shares of Vertex to a “strong-buy” rating in a research report on Tuesday, July 23rd. Robert W. Baird lifted their price objective on shares of Vertex from $43.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Stifel Nicolaus upped their target price on shares of Vertex from $41.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Vertex currently has an average rating of “Moderate Buy” and an average price target of $52.30.

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Vertex Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Vertex (NASDAQ:VERX)

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