Jeffrey Westphal Sells 1,225,000 Shares of Vertex, Inc. (NASDAQ:VERX) Stock

Vertex, Inc. (NASDAQ:VERX) major shareholder Jeffrey Westphal sold 1,225,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $39.42, for a total transaction of $48,289,500.00. Following the transaction, the insider now directly owns 7,895 shares in the company, valued at approximately $311,220.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Jeffrey Westphal also recently made the following trade(s):

• On Tuesday, July 23rd, Jeffrey Westphal sold 1,500,000 shares of Vertex stock. The stock was sold at an average price of $37.81, for a total value of $56,715,000.00.

Vertex Stock Up 0.5 %

VERX stock opened at $41.21 on Wednesday. The stock has a market capitalization of $6.41 billion, a PE ratio of 1,030.25, a price-to-earnings-growth ratio of 11.57 and a beta of 0.68. Vertex, Inc. has a 52 week low of $21.92 and a 52 week high of $42.38. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.43. The firm has a 50 day moving average of $37.17 and a 200 day moving average of $34.71.

Vertex (NASDAQ:VERX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02. Vertex had a net margin of 3.20% and a return on equity of 22.32%. The business had revenue of $161.10 million during the quarter, compared to the consensus estimate of $160.66 million. During the same period in the previous year, the firm posted $0.04 earnings per share. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. Sell-side analysts forecast that Vertex, Inc. will post 0.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of VERX. Blue Trust Inc. acquired a new stake in shares of Vertex during the second quarter worth about $28,000. Quest Partners LLC purchased a new position in Vertex during the 2nd quarter worth approximately $37,000. Canada Pension Plan Investment Board acquired a new stake in Vertex during the 2nd quarter valued at approximately $40,000. Amalgamated Bank purchased a new stake in shares of Vertex in the 2nd quarter valued at $68,000. Finally, Sandia Investment Management LP acquired a new stake in shares of Vertex in the first quarter worth $159,000. 59.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. JMP Securities increased their price target on Vertex from $42.00 to $47.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 31st. Robert W. Baird assumed coverage on Vertex in a research note on Tuesday, July 23rd. They set an “outperform” rating and a $43.00 price objective for the company. Baird R W upgraded Vertex to a “strong-buy” rating in a research note on Tuesday, July 23rd. Needham & Company LLC reissued a “buy” rating and set a $45.00 price target on shares of Vertex in a research report on Thursday, June 13th. Finally, Citigroup raised their price target on shares of Vertex from $32.00 to $36.00 and gave the company a “neutral” rating in a report on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Vertex presently has an average rating of “Moderate Buy” and an average price target of $37.30.

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.