Vertex, Inc. (NASDAQ:VERX) Insider Sells $927,512.24 in Stock

Vertex, Inc. (NASDAQ:VERX) insider 2020 Irrevocable Trust For Ben sold 30,692 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $30.22, for a total value of $927,512.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

2020 Irrevocable Trust For Ben also recently made the following trade(s):

• On Monday, March 25th, 2020 Irrevocable Trust For Ben sold 47,522 shares of Vertex stock. The shares were sold at an average price of $30.09, for a total value of $1,429,936.98.

Vertex Trading Up 3.6 %

NASDAQ VERX traded up $1.10 during trading on Thursday, hitting $31.76. The stock had a trading volume of 832,642 shares, compared to its average volume of 547,906. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of -306.60, a P/E/G ratio of 7.77 and a beta of 0.63. Vertex, Inc. has a one year low of $17.59 and a one year high of $35.38. The stock has a 50 day simple moving average of $27.26 and a 200 day simple moving average of $25.76.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VERX. Quadrature Capital Ltd raised its position in shares of Vertex by 175.0% in the fourth quarter. Quadrature Capital Ltd now owns 73,909 shares of the company’s stock worth $1,992,000 after acquiring an additional 47,031 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Vertex by 13.0% in the 4th quarter. Vanguard Group Inc. now owns 5,555,808 shares of the company’s stock worth $149,673,000 after acquiring an additional 637,075 shares during the last quarter. Bullseye Asset Management LLC lifted its holdings in Vertex by 12.5% during the 4th quarter. Bullseye Asset Management LLC now owns 45,071 shares of the company’s stock worth $1,214,000 after buying an additional 5,000 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Vertex by 2,245.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 277,883 shares of the company’s stock valued at $7,487,000 after purchasing an additional 266,034 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Vertex by 15.1% in the 4th quarter. Legal & General Group Plc now owns 48,034 shares of the company’s stock valued at $1,294,000 after purchasing an additional 6,290 shares during the last quarter. 59.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on VERX shares. Jefferies Financial Group increased their price target on Vertex from $27.00 to $35.00 and gave the company a “hold” rating in a report on Friday, March 1st. The Goldman Sachs Group upped their price objective on Vertex from $33.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Bank of America upgraded Vertex from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $23.00 to $40.00 in a research note on Friday, March 1st. Needham & Company LLC upped their price objective on Vertex from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Finally, Citigroup reduced their price objective on Vertex from $29.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, January 12th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Vertex has an average rating of “Moderate Buy” and an average target price of $35.78.

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.