Vertex, Inc. (NASDAQ:VERX – Get Free Report) CEO David Destefano sold 22,275 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $49.55, for a total transaction of $1,103,726.25. Following the completion of the transaction, the chief executive officer now owns 293,246 shares in the company, valued at $14,530,339.30. This represents a 7.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
David Destefano also recently made the following trade(s):
- On Thursday, November 14th, David Destefano sold 159,107 shares of Vertex stock. The shares were sold at an average price of $49.61, for a total value of $7,893,298.27.
Vertex Price Performance
NASDAQ VERX opened at $49.38 on Tuesday. The firm’s fifty day simple moving average is $41.46 and its two-hundred day simple moving average is $37.43. The firm has a market capitalization of $7.70 billion, a P/E ratio of 274.33, a P/E/G ratio of 9.22 and a beta of 0.67. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29. Vertex, Inc. has a 12-month low of $23.31 and a 12-month high of $52.93.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. Baird R W raised Vertex to a “strong-buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley upped their price objective on shares of Vertex from $50.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. JMP Securities increased their target price on shares of Vertex from $47.00 to $61.00 and gave the stock a “market outperform” rating in a report on Thursday, November 7th. BMO Capital Markets boosted their price target on shares of Vertex from $42.00 to $52.00 and gave the company a “market perform” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group upped their price target on shares of Vertex from $42.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.30.
Check Out Our Latest Report on Vertex
Hedge Funds Weigh In On Vertex
Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in shares of Vertex in the first quarter worth $166,000. Swiss National Bank increased its position in shares of Vertex by 5.4% in the 1st quarter. Swiss National Bank now owns 101,200 shares of the company’s stock valued at $3,214,000 after acquiring an additional 5,200 shares during the period. Vanguard Group Inc. raised its stake in Vertex by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 5,791,215 shares of the company’s stock worth $183,929,000 after acquiring an additional 235,407 shares during the last quarter. Bessemer Group Inc. lifted its position in Vertex by 8.0% during the 1st quarter. Bessemer Group Inc. now owns 248,738 shares of the company’s stock worth $7,900,000 after acquiring an additional 18,335 shares during the period. Finally, Gagnon Advisors LLC grew its stake in Vertex by 100.0% during the 1st quarter. Gagnon Advisors LLC now owns 115,594 shares of the company’s stock valued at $3,671,000 after purchasing an additional 57,797 shares during the last quarter. 59.10% of the stock is owned by hedge funds and other 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.
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