Vertex, Inc. (NASDAQ:VERX) CEO David Destefano Sells 109,415 Shares

Vertex, Inc. (NASDAQ:VERX) CEO David Destefano sold 109,415 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $37.70, for a total value of $4,124,945.50. Following the completion of the transaction, the chief executive officer now directly owns 1,066,587 shares in the company, valued at approximately $40,210,329.90. This represents a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Vertex Price Performance

NASDAQ:VERX opened at $37.52 on Friday. The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of 208.44, a PEG ratio of 6.66 and a beta of 0.78. Vertex, Inc. has a 1 year low of $30.26 and a 1 year high of $60.71. The business has a 50 day simple moving average of $37.20 and a 200-day simple moving average of $45.99. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04.

Vertex (NASDAQ:VERX) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The company had revenue of $177.06 million during the quarter, compared to the consensus estimate of $176.99 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. Vertex’s revenue was up 12.9% on a year-over-year basis. During the same period last year, the company earned $0.15 earnings per share. Equities analysts forecast that Vertex, Inc. will post 0.38 EPS for the current year.

Institutional Trading of Vertex

Institutional investors have recently added to or reduced their stakes in the company. Fairman Group LLC bought a new stake in Vertex in the fourth quarter worth about $327,000. Empowered Funds LLC bought a new stake in shares of Vertex during the 4th quarter worth approximately $3,363,000. Triasima Portfolio Management inc. bought a new stake in shares of Vertex during the 4th quarter worth approximately $3,135,000. Principal Financial Group Inc. lifted its position in shares of Vertex by 1,100.4% during the fourth quarter. Principal Financial Group Inc. now owns 572,245 shares of the company’s stock worth $30,530,000 after purchasing an additional 524,572 shares during the last quarter. Finally, Callan Family Office LLC bought a new stake in shares of Vertex during the fourth quarter worth $534,000. Institutional investors own 70.32% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on VERX. DA Davidson lowered their target price on shares of Vertex from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Stifel Nicolaus cut shares of Vertex from a “buy” rating to a “hold” rating and decreased their price target for the stock from $58.00 to $31.00 in a research note on Friday, February 28th. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 target price on shares of Vertex in a research report on Thursday, March 20th. Jefferies Financial Group decreased their target price on Vertex from $62.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, BNP Paribas assumed coverage on Vertex in a research report on Tuesday, April 22nd. They issued an “outperform” rating and a $54.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $50.73.

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.