Vertex, Inc. (NASDAQ:VERX) Insider Item Second Irr. Trust Fbo Jac Sells 26,645 Shares of Stock

Vertex, Inc. (NASDAQ:VERX) insider Item Second Irr. Trust Fbo Jac sold 26,645 shares of Vertex stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $51.40, for a total value of $1,369,553.00. Following the transaction, the insider now directly owns 906,061 shares in the company, valued at approximately $46,571,535.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, November 11th, Item Second Irr. Trust Fbo Jac sold 8,485 shares of Vertex stock. The stock was sold at an average price of $49.50, for a total transaction of $420,007.50.
• On Monday, October 14th, Item Second Irr. Trust Fbo Jac sold 56,419 shares of Vertex stock. The stock was sold at an average price of $40.77, for a total transaction of $2,300,202.63.
• On Friday, October 11th, Item Second Irr. Trust Fbo Jac sold 46,098 shares of Vertex stock. The stock was sold at an average price of $40.48, for a total value of $1,866,047.04.
• On Wednesday, October 9th, Item Second Irr. Trust Fbo Jac sold 49,114 shares of Vertex stock. The stock was sold at an average price of $41.31, for a total value of $2,028,899.34.
• On Monday, October 7th, Item Second Irr. Trust Fbo Jac sold 52,713 shares of Vertex stock. The shares were sold at an average price of $41.02, for a total transaction of $2,162,287.26.

Vertex Price Performance

Shares of NASDAQ:VERX opened at $49.75 on Wednesday. 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 business has a 50 day moving average price of $40.62 and a 200 day moving average price of $37.00. The company has a market cap of $7.74 billion, a price-to-earnings ratio of 276.39, a PEG ratio of 9.88 and a beta of 0.67. Vertex, Inc. has a twelve month low of $23.31 and a twelve month high of $52.93.

Vertex (NASDAQ:VERX) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. The business had revenue of $170.40 million for the quarter, compared to the consensus estimate of $165.70 million. Vertex had a net margin of 4.73% and a return on equity of 24.92%. Vertex’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the company posted $0.06 earnings per share. Research analysts predict that Vertex, Inc. will post 0.36 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in VERX. Blue Trust Inc. acquired a new stake in Vertex during the second quarter worth about $28,000. Advisors Asset Management Inc. lifted its position in shares of Vertex by 126.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock worth $37,000 after acquiring an additional 540 shares during the period. Quest Partners LLC acquired a new stake in shares of Vertex during the 2nd quarter worth approximately $37,000. Canada Pension Plan Investment Board acquired a new position in shares of Vertex in the second quarter valued at $40,000. Finally, Amalgamated Bank bought a new position in Vertex in the second quarter worth $68,000. Institutional investors and hedge funds own 59.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on VERX. Stifel Nicolaus raised their price target on shares of Vertex from $41.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, November 7th. BMO Capital Markets raised their target price on Vertex from $42.00 to $52.00 and gave the company a “market perform” rating in a report on Thursday, November 7th. Jefferies Financial Group upgraded Vertex from a “hold” rating to a “buy” rating and upped their price target for the stock from $35.00 to $50.00 in a research note on Monday, November 4th. JMP Securities raised their price objective on Vertex from $47.00 to $61.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their target price on Vertex from $42.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Vertex currently has an average rating of “Moderate Buy” and an average target price of $51.22.

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.