Vertex, Inc. (NASDAQ:VERX) Insider Jeffrey Westphal Sells 575,000 Shares

Vertex, Inc. (NASDAQ:VERX) insider Jeffrey Westphal sold 575,000 shares of Vertex stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $53.01, for a total transaction of $30,480,750.00. Following the completion of the sale, the insider now owns 7,895 shares in the company, valued at $418,513.95. The trade was a 98.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Jeffrey Westphal also recently made the following trade(s):

• On Monday, November 11th, Jeffrey Westphal sold 2,485,000 shares of Vertex stock. The shares were sold at an average price of $48.90, for a total transaction of $121,516,500.00.
• On Thursday, October 3rd, Jeffrey Westphal sold 1,225,000 shares of Vertex stock. The shares were sold at an average price of $39.42, for a total transaction of $48,289,500.00.

Vertex Stock Down 0.7 %

Shares of VERX opened at $53.06 on Thursday. Vertex, Inc. has a 52 week low of $23.31 and a 52 week high of $57.74. The firm has a market cap of $8.28 billion, a P/E ratio of 294.78, a price-to-earnings-growth ratio of 9.83 and a beta of 0.77. The firm’s 50-day simple moving average is $48.66 and its 200 day simple moving average is $40.88. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04.

Vertex (NASDAQ:VERX) last posted its quarterly earnings data 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 firm had revenue of $170.40 million during 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%. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 EPS. On average, analysts forecast that Vertex, Inc. will post 0.38 earnings per share for the current year.

Institutional Trading of Vertex

A number of institutional investors have recently bought and sold shares of VERX. Banque Pictet & Cie SA lifted its holdings in shares of Vertex by 551.9% during the 2nd quarter. Banque Pictet & Cie SA now owns 949,540 shares of the company’s stock worth $34,231,000 after acquiring an additional 803,881 shares during the period. Driehaus Capital Management LLC bought a new stake in shares of Vertex during the 2nd quarter worth approximately $22,173,000. Brown Capital Management LLC bought a new stake in shares of Vertex during the 3rd quarter worth approximately $20,938,000. Premier Fund Managers Ltd lifted its holdings 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 acquiring an additional 465,610 shares during the period. Finally, Geneva Capital Management LLC lifted its holdings 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 worth $55,863,000 after acquiring an additional 414,945 shares during the period. Institutional investors own 70.32% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Needham & Company LLC lifted 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. Robert W. Baird boosted their price objective on shares of Vertex from $43.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Morgan Stanley boosted their price objective on shares of Vertex from $50.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group boosted their price objective on shares of Vertex from $42.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, JMP Securities restated a “market outperform” rating and set a $61.00 price objective on shares of Vertex in a research note on Monday, December 9th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Vertex currently has an average rating of “Moderate Buy” and a consensus target price of $54.70.

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.