Vertex, Inc. (NASDAQ:VERX) Insider Item Second Irr. Trust Fbo Jac Sells 8,485 Shares

Vertex, Inc. (NASDAQ:VERX) insider Item Second Irr. Trust Fbo Jac sold 8,485 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $49.50, for a total value of $420,007.50. Following the transaction, the insider now owns 782,706 shares of the company’s stock, valued at $38,743,947. This trade represents a 1.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Thursday, November 7th, Item Second Irr. Trust Fbo Jac sold 26,645 shares of Vertex stock. The shares were sold at an average price of $51.40, for a total transaction of $1,369,553.00.
• On Monday, October 14th, Item Second Irr. Trust Fbo Jac sold 56,419 shares of Vertex stock. The shares were 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 stock was 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 shares were 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 transaction of $2,162,287.26.

Vertex Trading Down 2.2 %

NASDAQ:VERX opened at $49.45 on Friday. The stock has a fifty day simple moving average of $40.91 and a 200 day simple 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 firm has a market capitalization of $7.69 billion, a price-to-earnings ratio of 274.72, a price-to-earnings-growth ratio of 9.49 and a beta of 0.67. Vertex, Inc. has a 1-year low of $23.31 and a 1-year high of $52.93.

Vertex (NASDAQ:VERX) last announced its earnings results on Wednesday, November 6th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The company had revenue of $170.40 million during the quarter, compared to analysts’ expectations of $165.70 million. During the same period last year, the company posted $0.06 earnings per share. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. Sell-side analysts forecast that Vertex, Inc. will post 0.38 earnings per share for the current year.

Hedge Funds Weigh In On Vertex

Several institutional investors and hedge funds have recently added to or reduced their stakes in VERX. Banque Pictet & Cie SA lifted its holdings in shares of Vertex by 551.9% in the second quarter. Banque Pictet & Cie SA now owns 949,540 shares of the company’s stock valued at $34,231,000 after purchasing an additional 803,881 shares in the last quarter. Pembroke Management LTD raised its position in Vertex by 255.3% during the first quarter. Pembroke Management LTD now owns 927,129 shares of the company’s stock valued at $29,446,000 after buying an additional 666,223 shares during the period. Driehaus Capital Management LLC acquired a new position in Vertex during the second quarter valued at $22,173,000. Brown Capital Management LLC purchased a new stake in Vertex in the 3rd quarter worth about $20,938,000. Finally, Premier Fund Managers Ltd boosted its position in Vertex by 787.0% during the 3rd quarter. Premier Fund Managers Ltd now owns 524,775 shares of the company’s stock worth $19,280,000 after acquiring an additional 465,610 shares during the period. 59.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on VERX. The Goldman Sachs Group increased their price target on Vertex from $42.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. BMO Capital Markets upped their price objective on Vertex from $42.00 to $52.00 and gave the company a “market perform” rating in a report on Thursday, November 7th. JMP Securities lifted their target price on Vertex from $47.00 to $61.00 and gave the stock a “market outperform” rating in a report on Thursday, November 7th. Stifel Nicolaus upped their price target on shares of Vertex from $41.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Morgan Stanley raised their price objective on shares of Vertex from $50.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $52.30.

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.