John Richard Stamm Sells 2,500 Shares of Vertex, Inc. (NASDAQ:VERX) Stock

Vertex, Inc. (NASDAQ:VERX) Director John Richard Stamm sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $53.81, for a total transaction of $134,525.00. Following the transaction, the director now directly owns 15,535 shares of the company’s stock, valued at approximately $835,938.35. This represents a 13.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Vertex Price Performance

Shares of NASDAQ:VERX opened at $54.25 on Friday. 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 stock has a market cap of $8.46 billion, a PE ratio of 301.39, a PEG ratio of 10.18 and a beta of 0.67. The company’s fifty day moving average is $44.20 and its 200 day moving average is $38.66. Vertex, Inc. has a 52 week low of $23.31 and a 52 week high of $55.52.

Vertex (NASDAQ:VERX) last released its quarterly earnings data 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 return on equity of 24.92% and a net margin of 4.73%. The firm had revenue of $170.40 million for the quarter, compared to the consensus estimate of $165.70 million. During the same quarter in the previous year, the business earned $0.06 earnings per share. The company’s quarterly revenue was up 17.5% on a year-over-year basis. Research analysts anticipate that Vertex, Inc. will post 0.38 earnings per share for the current year.

Analysts Set New Price Targets

VERX has been the subject of several analyst reports. 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. The Goldman Sachs Group boosted their target price on Vertex from $42.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Stifel Nicolaus upped their target price on Vertex from $41.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. BMO Capital Markets lifted their price target on Vertex from $42.00 to $52.00 and gave the company a “market perform” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC upped their price objective on shares of Vertex from $45.00 to $60.00 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.30.

Institutional Trading of Vertex

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. bought a new position in shares of Vertex in the second quarter worth approximately $28,000. Advisors Asset Management Inc. boosted its position in Vertex by 126.2% during 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 during the period. Quest Partners LLC bought a new stake in Vertex in the 2nd quarter worth $37,000. Canada Pension Plan Investment Board purchased a new position in shares of Vertex in the second quarter valued at about $40,000. Finally, Amalgamated Bank bought a new position in shares of Vertex during the second quarter valued at about $68,000. Institutional investors own 59.10% of the company’s stock.

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.