Item Second Irr. Trust Fbo Jac Sells 46,098 Shares of Vertex, Inc. (NASDAQ:VERX) Stock

Vertex, Inc. (NASDAQ:VERX) insider Item Second Irr. Trust Fbo Jac sold 46,098 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $40.48, for a total value of $1,866,047.04. Following the transaction, the insider now directly owns 989,125 shares in the company, valued at approximately $40,039,780. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, October 14th, Item Second Irr. Trust Fbo Jac sold 56,419 shares of Vertex stock. The shares were sold at an average price of $40.77, for a total value of $2,300,202.63.
• On Wednesday, October 9th, Item Second Irr. Trust Fbo Jac sold 49,114 shares of Vertex stock. The shares were 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 value of $2,162,287.26.

Vertex Price Performance

Shares of NASDAQ:VERX opened at $42.71 on Thursday. The company has a market cap of $6.64 billion, a P/E ratio of 355.92, a P/E/G ratio of 11.74 and a beta of 0.68. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.43. Vertex, Inc. has a 52 week low of $21.92 and a 52 week high of $42.80. The business has a fifty day simple moving average of $37.49 and a 200-day simple moving average of $35.05.

Vertex (NASDAQ:VERX) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. Vertex had a return on equity of 22.32% and a net margin of 3.20%. The business had revenue of $161.10 million during the quarter, compared to the consensus estimate of $160.66 million. During the same quarter in the previous year, the business earned $0.04 earnings per share. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. Equities research analysts forecast that Vertex, Inc. will post 0.34 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Baird R W raised Vertex to a “strong-buy” rating in a research report on Tuesday, July 23rd. Robert W. Baird assumed coverage on Vertex in a research report on Tuesday, July 23rd. They set an “outperform” rating and a $43.00 price objective for the company. JMP Securities increased their price objective on Vertex from $42.00 to $47.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 31st. Finally, Citigroup increased their price objective on Vertex from $32.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.30.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VERX. Vanguard Group Inc. lifted its stake in shares of Vertex by 4.2% during the first quarter. Vanguard Group Inc. now owns 5,791,215 shares of the company’s stock worth $183,929,000 after purchasing an additional 235,407 shares in the last quarter. TimesSquare Capital Management LLC lifted its stake in shares of Vertex by 2.3% during the first quarter. TimesSquare Capital Management LLC now owns 1,386,848 shares of the company’s stock worth $44,046,000 after purchasing an additional 30,523 shares in the last quarter. Banque Pictet & Cie SA lifted its stake in shares of Vertex by 551.9% during the second quarter. Banque Pictet & Cie SA now owns 949,540 shares of the company’s stock worth $34,231,000 after purchasing an additional 803,881 shares in the last quarter. Pembroke Management LTD lifted its stake in shares of Vertex by 255.3% during the first quarter. Pembroke Management LTD now owns 927,129 shares of the company’s stock worth $29,446,000 after purchasing an additional 666,223 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its stake in shares of Vertex by 8.1% during the second quarter. William Blair Investment Management LLC now owns 782,715 shares of the company’s stock worth $28,217,000 after purchasing an additional 58,678 shares in the last quarter. Institutional investors and hedge funds own 59.10% 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.