Vertex, Inc. (NASDAQ:VERX) Major Shareholder Item Second Irr. Trust Fbo Kyl Sells 40,966 Shares

Vertex, Inc. (NASDAQ:VERX) major shareholder Item Second Irr. Trust Fbo Kyl sold 40,966 shares of Vertex stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $52.16, for a total transaction of $2,136,786.56. Following the completion of the transaction, the insider now owns 1,389,134 shares of the company’s stock, valued at $72,457,229.44. This trade represents a 2.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, August 26th, Item Second Irr. Trust Fbo Kyl sold 158,900 shares of Vertex stock. The shares were sold at an average price of $37.27, for a total value of $5,922,203.00.

Vertex Trading Up 2.1 %

Shares of Vertex stock traded up $1.11 on Thursday, hitting $53.42. 704,481 shares of the company’s stock traded hands, compared to its average volume of 788,067. Vertex, Inc. has a one year low of $23.31 and a one year high of $53.77. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $8.33 billion, a PE ratio of 296.72, a price-to-earnings-growth ratio of 9.61 and a beta of 0.67. The firm’s 50-day moving average price is $42.38 and its two-hundred day moving average price is $37.83.

Vertex (NASDAQ:VERX) last released its earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. The firm had revenue of $170.40 million for the quarter, compared to analyst estimates of $165.70 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.06 earnings per share. On average, research analysts expect that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Blue Trust Inc. bought a new stake in shares of Vertex in the 2nd quarter valued at $28,000. Advisors Asset Management Inc. grew its stake in Vertex by 126.2% in the third quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock valued at $37,000 after acquiring an additional 540 shares during the period. Quest Partners LLC bought a new stake in shares of Vertex in the second quarter worth about $37,000. Canada Pension Plan Investment Board bought a new position in shares of Vertex during the 2nd quarter valued at about $40,000. Finally, Amalgamated Bank bought a new position in Vertex in the second quarter valued at approximately $68,000. Institutional investors and hedge funds own 59.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on VERX shares. Stifel Nicolaus increased their target price on Vertex from $41.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC increased their price objective on shares of Vertex from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. JMP Securities boosted their target price on shares of Vertex from $47.00 to $61.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 7th. Morgan Stanley upped their target price on shares of Vertex from $50.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Robert W. Baird raised their price target on shares of Vertex from $43.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus 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.