Item Second Irr. Trust Fbo Ann Sells 510 Shares of Vertex, Inc. (NASDAQ:VERX) Stock

Vertex, Inc. (NASDAQ:VERX) insider Item Second Irr. Trust Fbo Ann sold 510 shares of Vertex stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $35.00, for a total transaction of $17,850.00. Following the completion of the sale, the insider now owns 187,499 shares of the company’s stock, valued at $6,562,465. This represents a 0.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, June 24th, Item Second Irr. Trust Fbo Ann sold 14,425 shares of Vertex stock. The stock was sold at an average price of $35.24, for a total value of $508,337.00.
• On Friday, June 20th, Item Second Irr. Trust Fbo Ann sold 8,832 shares of Vertex stock. The shares were 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 stock was 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 shares were sold at an average price of $37.16, for a total transaction 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 Trading Down 5.4%

Shares of VERX stock opened at $33.45 on Thursday. 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 stock has a fifty day simple moving average of $38.42 and a two-hundred day simple moving average of $43.47. The firm has a market capitalization of $5.30 billion, a PE ratio of -115.34, a PEG ratio of 4.39 and a beta of 0.75. Vertex, Inc. has a 52-week low of $30.26 and a 52-week high of $60.71.

Vertex (NASDAQ:VERX) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.15 earnings per share 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 business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.15 earnings per share. On average, analysts predict that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VERX has been the topic of several recent research reports. Jefferies Financial Group decreased their price target on shares of Vertex from $62.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Stifel Nicolaus lowered Vertex from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $58.00 to $31.00 in a research note on Friday, February 28th. Piper Sandler initiated coverage on Vertex in a report on Monday, June 16th. They issued an “overweight” rating and a $48.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $60.00 target price on shares of Vertex in a research report on Thursday, March 20th. Finally, Morgan Stanley cut their price target on Vertex from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.50.

Hedge Funds Weigh In On Vertex

A number of hedge funds have recently made changes to their positions in VERX. Rhumbline Advisers boosted its stake in shares of Vertex by 5.1% in the fourth quarter. Rhumbline Advisers now owns 79,675 shares of the company’s stock worth $4,251,000 after acquiring an additional 3,900 shares during the period. Handelsbanken Fonder AB boosted its stake in shares of Vertex by 6.8% in the fourth quarter. Handelsbanken Fonder AB now owns 12,500 shares of the company’s stock worth $667,000 after acquiring an additional 800 shares during the period. Sigma Planning Corp boosted its stake in shares of Vertex by 15.0% in the fourth quarter. Sigma Planning Corp now owns 10,908 shares of the company’s stock worth $582,000 after acquiring an additional 1,421 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Vertex by 36.3% in the fourth quarter. Bank of New York Mellon Corp now owns 234,274 shares of the company’s stock worth $12,499,000 after acquiring an additional 62,446 shares during the period. Finally, Plato Investment Management Ltd bought a new position in shares of Vertex in the fourth quarter worth about $41,000. Institutional investors own 70.32% of the company’s stock.

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.