Vertex, Inc. (NASDAQ:VERX) Director Sells $134,525.00 in Stock

Vertex, Inc. (NASDAQ:VERX) Director John Richard Stamm sold 2,500 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $53.81, for a total value of $134,525.00. Following the completion of the transaction, the director now directly owns 15,535 shares in the company, valued at approximately $835,938.35. This trade represents a 13.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Vertex Trading Down 1.6 %

VERX opened at $54.25 on Thursday. The firm’s fifty day simple moving average is $44.20 and its 200 day simple moving average is $38.66. The stock has a market capitalization of $8.46 billion, a P/E ratio of 301.39, a P/E/G ratio of 10.30 and a beta of 0.67. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29. Vertex, Inc. has a 12 month low of $23.31 and a 12 month high of $55.52.

Vertex (NASDAQ:VERX) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $170.40 million for the quarter, compared to analyst estimates of $165.70 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.06 earnings per share. As a group, research analysts anticipate that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Vertex

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Vertex by 4.2% in the first quarter. Vanguard Group Inc. now owns 5,791,215 shares of the company’s stock valued at $183,929,000 after purchasing an additional 235,407 shares during the last quarter. FMR LLC boosted its stake in shares of Vertex by 2.5% during the 3rd quarter. FMR LLC now owns 2,287,774 shares of the company’s stock worth $88,102,000 after buying an additional 54,985 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Vertex by 17.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,690,045 shares of the company’s stock worth $69,444,000 after buying an additional 253,263 shares during the last quarter. Geneva Capital Management LLC grew its holdings in shares of Vertex by 40.1% in the 3rd quarter. Geneva Capital Management LLC now owns 1,450,599 shares of the company’s stock valued at $55,863,000 after acquiring an additional 414,945 shares in the last quarter. Finally, State Street Corp increased its position in shares of Vertex by 36.4% in the third quarter. State Street Corp now owns 1,361,901 shares of the company’s stock valued at $52,447,000 after acquiring an additional 363,595 shares during the last quarter. Institutional investors and hedge funds own 59.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. BMO Capital Markets increased their target price on Vertex from $42.00 to $52.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. JMP Securities lifted their price objective on shares of Vertex from $47.00 to $61.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 7th. Stifel Nicolaus upped their target price on shares of Vertex from $41.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC lifted their price target on shares of Vertex from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird upped their price objective on shares of Vertex from $43.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.30.

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.