Vertex (NASDAQ:VERX) Stock: Insider Ryan Leib Sells 6,963 Shares

Vertex, Inc. (NASDAQ:VERX) CAO Ryan Leib sold 6,963 shares of the stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $17.39, for a total value of $121,086.57. Following the sale, the chief accounting officer directly owned 810 shares of the company’s stock, valued at $14,085.90. The trade was a 89.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Vertex Stock Performance

Vertex stock traded up $0.22 during mid-day trading on Friday, reaching $17.97. 972,918 shares of the company’s stock were exchanged, compared to its average volume of 1,676,706. The business’s fifty day simple moving average is $13.80 and its 200 day simple moving average is $13.24. The firm has a market capitalization of $2.92 billion, a PE ratio of -61.97 and a beta of 0.77. Vertex, Inc. has a one year low of $10.21 and a one year high of $20.82. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.88.

Vertex (NASDAQ:VERX) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. The business had revenue of $213.28 million for the quarter, compared to analysts’ expectations of $209.72 million. Vertex had a positive return on equity of 36.83% and a negative net margin of 5.83%. The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.17 earnings per share. On average, sell-side analysts expect that Vertex, Inc. will post 0.60 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Vertex from a “hold” rating to a “buy” rating in a report on Sunday, October 18th. Stephens reduced their price target on shares of Vertex from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, August 4th. Robert W. Baird decreased their price objective on shares of Vertex from $19.00 to $17.00 and set an “outperform” rating for the company in a report on Tuesday, August 4th. DA Davidson set a $16.00 price target on shares of Vertex in a research note on Thursday, November 5th. Finally, TD Cowen lowered their price target on shares of Vertex from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, October 13th. Six equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $18.79.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Quantinno Capital Management LP boosted its position in Vertex by 275.2% during the first quarter. Quantinno Capital Management LP now owns 141,793 shares of the company’s stock worth $1,686,000 after purchasing an additional 104,006 shares during the period. Corient Private Wealth LP purchased a new position in shares of Vertex in the second quarter worth about $1,766,000. Squarepoint Ops LLC bought a new stake in shares of Vertex in the second quarter valued at approximately $938,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Vertex in the first quarter valued at approximately $37,796,000. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Vertex by 1,906.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 935,668 shares of the company’s stock valued at $11,125,000 after purchasing an additional 889,042 shares during the period. Hedge funds and other institutional investors own 70.32% of the company’s stock.

About Vertex

Vertex, Inc. provides tax technology and related services to businesses. Founded in 1978 and headquartered in King of Prussia, Pennsylvania, the company develops software that helps organizations manage the complexities of transaction taxes. Its products support tax determination and calculation, compliance and reporting, tax data management, and exemption certificate management. Vertex solutions are designed to integrate with business systems such as enterprise resource planning and e-commerce platforms, helping companies automate tax processes across their operations.