Item Second Irr. Trust Fbo Ann Sells 14,425 Shares of Vertex, Inc. (NASDAQ:VERX) Stock

Vertex, Inc. (NASDAQ:VERX) insider Item Second Irr. Trust Fbo Ann sold 14,425 shares of the company’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $35.24, for a total transaction of $508,337.00. Following the transaction, the insider now owns 173,074 shares in the company, valued at $6,099,127.76. This represents a 7.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Monday, June 23rd, Item Second Irr. Trust Fbo Ann sold 510 shares of Vertex stock. The shares were sold at an average price of $35.00, for a total value of $17,850.00.
• On Friday, June 20th, Item Second Irr. Trust Fbo Ann sold 8,832 shares of Vertex stock. The stock was sold at an average price of $35.12, for a total value of $310,179.84.
• On Wednesday, June 18th, Item Second Irr. Trust Fbo Ann sold 157,874 shares of Vertex stock. The shares were sold at an average price of $35.93, for a total value of $5,672,412.82.
• 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 shares were sold at an average price of $36.87, for a total transaction of $2,885,003.76.

Vertex Stock Performance

NASDAQ VERX opened at $33.45 on Thursday. The company has a market capitalization of $5.30 billion, a PE ratio of -115.34, a price-to-earnings-growth ratio of 4.39 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. Vertex, Inc. has a 52-week low of $30.26 and a 52-week high of $60.71. The company has a 50-day simple moving average of $38.42 and a 200 day simple moving average of $43.47.

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 the consensus estimate of $0.13 by $0.02. The company had revenue of $177.06 million during the quarter, compared to analyst estimates of $176.99 million. Vertex had a negative net margin of 6.45% and a positive return on equity of 28.14%. Vertex’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 EPS. On average, research analysts predict that Vertex, Inc. will post 0.38 EPS for the current year.

Institutional Trading of Vertex

A number of large investors have recently bought and sold shares of the company. Voya Investment Management LLC grew its stake in shares of Vertex by 41.2% during the 1st quarter. Voya Investment Management LLC now owns 169,468 shares of the company’s stock worth $5,933,000 after acquiring an additional 49,430 shares during the period. Osterweis Capital Management Inc. purchased a new stake in Vertex during the first quarter valued at about $8,744,000. Rhumbline Advisers lifted its holdings in Vertex by 5.6% during the first quarter. Rhumbline Advisers now owns 84,152 shares of the company’s stock valued at $2,946,000 after purchasing an additional 4,477 shares during the last quarter. Strs Ohio bought a new position in Vertex during the first quarter worth about $690,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Vertex by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,935 shares of the company’s stock worth $2,869,000 after purchasing an additional 3,461 shares in the last quarter. 70.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Stifel Nicolaus lowered Vertex from a “buy” rating to a “hold” rating and dropped their target price for the company from $58.00 to $31.00 in a report on Friday, February 28th. Piper Sandler initiated coverage on Vertex in a research note on Monday, June 16th. They set an “overweight” rating and a $48.00 price objective on the stock. The Goldman Sachs Group reduced their target price on shares of Vertex from $64.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 target price on shares of Vertex in a report on Thursday, March 20th. Finally, Jefferies Financial Group cut their price target on shares of Vertex from $62.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Vertex has an average rating of “Moderate Buy” and a consensus price target of $50.50.

About Vertex

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.