Vertex, Inc. (NASDAQ:VERX) Insider Item Second Irr. Trust Fbo Jac Sells 56,419 Shares

Vertex, Inc. (NASDAQ:VERX) insider Item Second Irr. Trust Fbo Jac sold 56,419 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $40.77, for a total transaction of $2,300,202.63. Following the transaction, the insider now owns 932,706 shares of the company’s stock, valued at $38,026,423.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• 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 transaction 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 transaction of $2,028,899.34.
• On Monday, October 7th, Item Second Irr. Trust Fbo Jac sold 52,713 shares of Vertex stock. The stock was sold at an average price of $41.02, for a total transaction of $2,162,287.26.

Vertex Stock Up 0.4 %

Shares of NASDAQ VERX opened at $41.26 on Wednesday. Vertex, Inc. has a one year low of $21.92 and a one year high of $42.38. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.17 and a quick ratio of 1.17. The firm’s 50 day simple moving average is $37.39 and its two-hundred day simple moving average is $34.99. The stock has a market capitalization of $6.40 billion, a P/E ratio of 1,031.50, a PEG ratio of 11.33 and a beta of 0.68.

Vertex (NASDAQ:VERX) last issued its quarterly earnings results 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 net margin of 3.20% and a return on equity of 22.32%. The business had revenue of $161.10 million for the quarter, compared to analysts’ expectations of $160.66 million. During the same period last year, the business earned $0.04 earnings per share. The business’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, analysts expect that Vertex, Inc. will post 0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Westwind Capital bought a new position in shares of Vertex in the third quarter worth approximately $7,180,000. Handelsbanken Fonder AB grew its holdings in shares of Vertex by 37.6% in the third quarter. Handelsbanken Fonder AB now owns 11,700 shares of the company’s stock worth $451,000 after purchasing an additional 3,200 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Vertex in the third quarter worth approximately $444,000. Driehaus Capital Management LLC bought a new position in shares of Vertex in the second quarter worth approximately $22,173,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Vertex by 269.4% in the second quarter. The Manufacturers Life Insurance Company now owns 34,378 shares of the company’s stock worth $1,239,000 after purchasing an additional 25,072 shares during the last quarter. 59.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

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.