Insider Selling: Vertex, Inc. (NASDAQ:VERX) Insider Sells 47,522 Shares of Stock

Vertex, Inc. (NASDAQ:VERX) insider 2020 Irrevocable Trust For Ben sold 47,522 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $30.09, for a total transaction of $1,429,936.98. Following the completion of the sale, the insider now owns 81,361 shares of the company’s stock, valued at approximately $2,448,152.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Vertex Stock Performance

Shares of NASDAQ VERX opened at $30.66 on Thursday. The company has a market cap of $4.73 billion, a PE ratio of -306.60, a price-to-earnings-growth ratio of 7.75 and a beta of 0.63. Vertex, Inc. has a 12 month low of $17.59 and a 12 month high of $35.38. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.60 and a quick ratio of 0.60. The company has a 50-day simple moving average of $27.26 and a 200-day simple moving average of $25.76.

Vertex (NASDAQ:VERX) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The business had revenue of $154.91 million during the quarter, compared to the consensus estimate of $146.44 million. Vertex had a negative net margin of 2.29% and a positive return on equity of 16.15%. On average, equities analysts anticipate that Vertex, Inc. will post 0.36 earnings per share for the current year.

Institutional Investors Weigh In On Vertex

Hedge funds and other institutional investors have recently modified their holdings of the company. Invesco Ltd. grew its holdings in shares of Vertex by 85.7% during the third quarter. Invesco Ltd. now owns 425,192 shares of the company’s stock worth $9,822,000 after buying an additional 196,169 shares in the last quarter. Comerica Bank purchased a new stake in Vertex in the third quarter valued at approximately $4,763,000. Charles Schwab Investment Management Inc. grew its holdings in Vertex by 1,195.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 222,675 shares of the company’s stock valued at $5,144,000 after purchasing an additional 205,489 shares during the period. Meridian Wealth Partners LLC purchased a new stake in Vertex in the third quarter valued at approximately $2,907,000. Finally, Barclays PLC grew its holdings in Vertex by 43.4% in the third quarter. Barclays PLC now owns 23,112 shares of the company’s stock valued at $534,000 after purchasing an additional 6,994 shares during the period. 59.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on VERX shares. Citigroup reduced their price objective on shares of Vertex from $29.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, January 12th. BMO Capital Markets raised their price objective on shares of Vertex from $30.00 to $35.00 and gave the company a “market perform” rating in a research note on Friday, March 1st. Bank of America upgraded shares of Vertex from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $23.00 to $40.00 in a research note on Friday, March 1st. Needham & Company LLC raised their target price on shares of Vertex from $35.00 to $45.00 and gave the company a “buy” rating in a report on Friday, March 1st. Finally, JMP Securities raised their target price on shares of Vertex from $31.00 to $42.00 and gave the company a “market outperform” rating in a report on Friday, March 1st. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.78.

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.