Insider Selling: Vertex, Inc. (NASDAQ:VERX) Insider Sells $1,429,936.98 in Stock

Vertex, Inc. (NASDAQ:VERX) insider 2020 Irrevocable Trust For Ben sold 47,522 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $30.09, for a total transaction of $1,429,936.98. Following the sale, the insider now directly owns 81,361 shares of the company’s stock, valued at approximately $2,448,152.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Vertex Stock Up 1.7 %

VERX stock opened at $30.66 on Thursday. The stock has a market capitalization of $4.73 billion, a P/E ratio of -306.60, a P/E/G ratio of 7.75 and a beta of 0.63. The firm has a 50-day simple moving average of $27.26 and a 200-day simple moving average of $25.76. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.17. Vertex, Inc. has a 52 week low of $17.59 and a 52 week high of $35.38.

Vertex (NASDAQ:VERX) last released its earnings results on Thursday, February 29th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The business had revenue of $154.91 million during the quarter, compared to analysts’ expectations of $146.44 million. Vertex had a negative net margin of 2.29% and a positive return on equity of 16.15%. Equities analysts forecast that Vertex, Inc. will post 0.36 earnings per share for the current fiscal year.

Institutional Trading of Vertex

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quadrature Capital Ltd increased its stake in shares of Vertex by 175.0% during the fourth quarter. Quadrature Capital Ltd now owns 73,909 shares of the company’s stock worth $1,992,000 after purchasing an additional 47,031 shares in the last quarter. Vanguard Group Inc. grew its stake in Vertex by 13.0% during the 4th quarter. Vanguard Group Inc. now owns 5,555,808 shares of the company’s stock valued at $149,673,000 after acquiring an additional 637,075 shares in the last quarter. Bullseye Asset Management LLC grew its stake in Vertex by 12.5% during the 4th quarter. Bullseye Asset Management LLC now owns 45,071 shares of the company’s stock valued at $1,214,000 after acquiring an additional 5,000 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Vertex by 2,245.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 277,883 shares of the company’s stock valued at $7,487,000 after acquiring an additional 266,034 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Vertex by 15.1% during the 4th quarter. Legal & General Group Plc now owns 48,034 shares of the company’s stock valued at $1,294,000 after acquiring an additional 6,290 shares in the last quarter. Hedge funds and other institutional investors own 59.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on VERX shares. BMO Capital Markets increased their target price on shares of Vertex from $30.00 to $35.00 and gave the company a “market perform” rating in a research report on Friday, March 1st. Needham & Company LLC increased their target price on shares of Vertex from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Jefferies Financial Group increased their target price on shares of Vertex from $27.00 to $35.00 and gave the company a “hold” rating in a research report on Friday, March 1st. JMP Securities raised their price target on shares of Vertex from $31.00 to $42.00 and gave the stock a “market outperform” rating in a report on Friday, March 1st. Finally, Citigroup decreased their price target on shares of Vertex from $29.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, January 12th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.78.

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.