Item Second Irr. Trust Fbo Kyl Sells 53,843 Shares of Vertex, Inc. (NASDAQ:VERX) Stock

Vertex, Inc. (NASDAQ:VERX) major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $56.48, for a total transaction of $3,041,052.64. Following the transaction, the insider now directly owns 1,229,257 shares in the company, valued at approximately $69,428,435.36. This trade represents a 4.20 % 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.

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

• On Monday, December 9th, Item Second Irr. Trust Fbo Kyl sold 13,346 shares of Vertex stock. The shares were sold at an average price of $55.13, for a total transaction of $735,764.98.
• On Wednesday, November 20th, Item Second Irr. Trust Fbo Kyl sold 40,966 shares of Vertex stock. The stock was sold at an average price of $52.16, for a total transaction of $2,136,786.56.

Vertex Trading Up 0.7 %

Vertex stock traded up $0.37 during trading hours on Thursday, reaching $57.00. 606,581 shares of the company’s stock were exchanged, compared to its average volume of 896,399. 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 simple moving average is $53.74 and its 200 day simple moving average is $44.26. Vertex, Inc. has a twelve month low of $24.17 and a twelve month high of $58.22. The firm has a market capitalization of $8.89 billion, a PE ratio of 316.67, a PEG ratio of 8.35 and a beta of 0.77.

Vertex (NASDAQ:VERX) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The business had revenue of $170.40 million during the quarter, compared to the consensus estimate of $165.70 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 EPS. Research analysts predict that Vertex, Inc. will post 0.38 earnings per share for the current year.

Institutional Investors Weigh In On Vertex

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC raised its holdings in Vertex by 2.5% in the 3rd quarter. FMR LLC now owns 2,287,774 shares of the company’s stock worth $88,102,000 after acquiring an additional 54,985 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Vertex by 17.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,690,045 shares of the company’s stock valued at $69,444,000 after purchasing an additional 253,263 shares during the last quarter. Geneva Capital Management LLC raised its position in shares of Vertex by 40.1% during the 3rd quarter. Geneva Capital Management LLC now owns 1,450,599 shares of the company’s stock valued at $55,863,000 after buying an additional 414,945 shares in the last quarter. State Street Corp raised its position in Vertex by 36.4% in the 3rd quarter. State Street Corp now owns 1,361,901 shares of the company’s stock worth $52,447,000 after purchasing an additional 363,595 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Vertex by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,275,283 shares of the company’s stock worth $49,121,000 after acquiring an additional 37,592 shares during the period. Institutional investors own 70.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on VERX. JMP Securities restated a “market outperform” rating and set a $61.00 price target on shares of Vertex in a research report on Monday, December 9th. Raymond James reaffirmed a “market perform” rating on shares of Vertex in a research report on Friday, January 3rd. Robert W. Baird upped their price objective on Vertex from $43.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group upped their price target on Vertex from $42.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Citigroup increased their target price on Vertex from $46.00 to $54.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $55.36.

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.