Vertex, Inc. (NASDAQ:VERX) Major Shareholder Sells $3,041,052.64 in Stock

Vertex, Inc. (NASDAQ:VERX) major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $56.48, for a total value of $3,041,052.64. Following the completion of the sale, the insider now owns 1,229,257 shares of the company’s stock, valued at $69,428,435.36. This trade represents a 4.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases 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 stock was sold at an average price of $55.13, for a total value 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 value of $2,136,786.56.

Vertex Stock Performance

Shares of Vertex stock opened at $57.44 on Friday. The stock has a market capitalization of $8.96 billion, a price-to-earnings ratio of 319.11, a price-to-earnings-growth ratio of 8.30 and a beta of 0.77. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04. The business has a 50-day moving average of $54.06 and a 200 day moving average of $44.56. Vertex, Inc. has a 12 month low of $24.17 and a 12 month high of $58.35.

Vertex (NASDAQ:VERX) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The business had revenue of $170.40 million during the quarter, compared to analyst estimates of $165.70 million. During the same quarter last year, the firm posted $0.06 earnings per share. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Vertex, Inc. will post 0.38 earnings per share for the current year.

Institutional Trading of Vertex

A number of large investors have recently modified their holdings of VERX. Armstrong Advisory Group Inc. purchased a new position in Vertex in the fourth quarter valued at $50,000. Advisors Asset Management Inc. boosted its stake in shares of Vertex by 126.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock valued at $37,000 after buying an additional 540 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Vertex during the second quarter worth about $40,000. Amalgamated Bank purchased a new stake in shares of Vertex during the second quarter worth approximately $68,000. Finally, KBC Group NV raised its holdings in Vertex by 46.1% in the third quarter. KBC Group NV now owns 2,099 shares of the company’s stock valued at $81,000 after acquiring an additional 662 shares in the last quarter. Hedge funds and other institutional investors own 70.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VERX. Morgan Stanley upped their price objective on shares of Vertex from $50.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Needham & Company LLC increased their price target on shares of Vertex from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group upgraded shares of Vertex from a “hold” rating to a “buy” rating and raised their price target for the stock from $35.00 to $50.00 in a report on Monday, November 4th. The Goldman Sachs Group upped their price objective on Vertex from $42.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, JMP Securities reissued a “market outperform” rating and set a $61.00 target price on shares of Vertex in a research note on Monday, December 9th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.36.

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.