Item Second Irr. Trust Fbo Ann Sells 157,874 Shares of Vertex, Inc. (NASDAQ:VERX) Stock

Vertex, Inc. (NASDAQ:VERX) insider Item Second Irr. Trust Fbo Ann sold 157,874 shares of the firm’s stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $35.93, for a total value of $5,672,412.82. Following the completion of the transaction, the insider now directly owns 196,841 shares of the company’s stock, valued at approximately $7,072,497.13. This trade represents a 44.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, June 17th, Item Second Irr. Trust Fbo Ann sold 145,111 shares of Vertex stock. The stock was sold at an average price of $37.16, for a total value of $5,392,324.76.
• On Monday, June 16th, Item Second Irr. Trust Fbo Ann sold 78,248 shares of Vertex stock. The stock was sold at an average price of $36.87, for a total value of $2,885,003.76.

Vertex Stock Performance

Shares of NASDAQ:VERX opened at $33.97 on Friday. Vertex, Inc. has a twelve month low of $30.26 and a twelve month high of $60.71. The firm has a market cap of $5.38 billion, a PE ratio of -117.13, a price-to-earnings-growth ratio of 4.40 and a beta of 0.75. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.98 and a current ratio of 0.98. The business has a fifty day moving average of $38.69 and a 200-day moving average of $43.92.

Vertex (NASDAQ:VERX) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The firm had revenue of $177.06 million during the quarter, compared to analyst estimates of $176.99 million. Vertex had a positive return on equity of 28.14% and a negative net margin of 6.45%. The company’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. On average, equities research analysts predict that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Analyst Ratings Changes

VERX has been the subject of several research reports. Piper Sandler initiated coverage on Vertex in a research report on Monday, June 16th. They issued an “overweight” rating and a $48.00 target price for the company. BNP Paribas began coverage on Vertex in a research note on Tuesday, April 22nd. They set an “outperform” rating and a $54.00 price objective for the company. Jefferies Financial Group dropped their price objective on Vertex from $62.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price objective on shares of Vertex in a research note on Thursday, March 20th. Finally, DA Davidson dropped their price objective on Vertex from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.50.

Institutional Trading of Vertex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Vertex by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 6,858,981 shares of the company’s stock worth $365,927,000 after purchasing an additional 137,666 shares during the period. Neuberger Berman Group LLC increased its position in Vertex by 1.5% in the fourth quarter. Neuberger Berman Group LLC now owns 3,527,604 shares of the company’s stock worth $188,198,000 after purchasing an additional 53,829 shares during the period. Conestoga Capital Advisors LLC grew its position in shares of Vertex by 30.3% during the 1st quarter. Conestoga Capital Advisors LLC now owns 2,947,740 shares of the company’s stock worth $103,200,000 after buying an additional 686,145 shares during the period. FMR LLC grew its position in shares of Vertex by 25.4% during the 4th quarter. FMR LLC now owns 2,868,438 shares of the company’s stock worth $153,031,000 after buying an additional 580,664 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its position in shares of Vertex by 63.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,429,416 shares of the company’s stock worth $85,054,000 after buying an additional 939,031 shares during the period. 70.32% of the stock is currently owned by institutional investors and hedge funds.

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.