Insider Selling: Vertex, Inc. (NASDAQ:VERX) Major Shareholder Sells $735,764.98 in Stock

Vertex, Inc. (NASDAQ:VERX) major shareholder Item Second Irr. Trust Fbo Kyl sold 13,346 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $55.13, for a total transaction of $735,764.98. Following the completion of the transaction, the insider now owns 1,344,754 shares in the company, valued at $74,136,288.02. The trade was a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Wednesday, November 20th, Item Second Irr. Trust Fbo Kyl sold 40,966 shares of Vertex stock. The shares were sold at an average price of $52.16, for a total transaction of $2,136,786.56.

Vertex Price Performance

Shares of VERX opened at $52.39 on Friday. The company has a market cap of $8.17 billion, a P/E ratio of 291.06, a PEG ratio of 10.30 and a beta of 0.77. Vertex, Inc. has a fifty-two week low of $23.31 and a fifty-two week high of $57.74. 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 firm’s 50 day moving average price is $48.17 and its 200 day moving average price is $40.48.

Vertex (NASDAQ:VERX) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The business 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 revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 earnings per share. On average, research analysts forecast that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

VERX has been the subject of several recent analyst reports. BMO Capital Markets raised their target price on Vertex from $42.00 to $52.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Needham & Company LLC boosted their price objective on shares of Vertex from $45.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Jefferies Financial Group raised shares of Vertex from a “hold” rating to a “buy” rating and upped their target price for the company from $35.00 to $50.00 in a research report on Monday, November 4th. The Goldman Sachs Group lifted their price target on shares of Vertex from $42.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird upped their price objective on shares of Vertex from $43.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.30.

Hedge Funds Weigh In On Vertex

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Banque Pictet & Cie SA raised its holdings in Vertex by 551.9% in the second quarter. Banque Pictet & Cie SA now owns 949,540 shares of the company’s stock valued at $34,231,000 after acquiring an additional 803,881 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Vertex in the 2nd quarter valued at approximately $22,173,000. Brown Capital Management LLC acquired a new stake in shares of Vertex in the 3rd quarter valued at $20,938,000. Premier Fund Managers Ltd lifted its position in shares of Vertex by 787.0% during the 3rd quarter. Premier Fund Managers Ltd now owns 524,775 shares of the company’s stock worth $19,280,000 after purchasing an additional 465,610 shares during the last quarter. Finally, Geneva Capital Management LLC grew its stake in shares of Vertex by 40.1% during the third quarter. Geneva Capital Management LLC now owns 1,450,599 shares of the company’s stock worth $55,863,000 after purchasing an additional 414,945 shares in the last quarter. Hedge funds and other institutional investors own 70.32% 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.