Insider Selling: Vertex, Inc. (NASDAQ:VERX) Major Shareholder Sells $2,136,786.56 in Stock

Vertex, Inc. (NASDAQ:VERX) major shareholder Item Second Irr. Trust Fbo Kyl sold 40,966 shares of Vertex stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $52.16, for a total value of $2,136,786.56. Following the transaction, the insider now owns 1,389,134 shares of the company’s stock, valued at $72,457,229.44. The trade was a 2.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, August 26th, Item Second Irr. Trust Fbo Kyl sold 158,900 shares of Vertex stock. The shares were sold at an average price of $37.27, for a total value of $5,922,203.00.

Vertex Price Performance

NASDAQ:VERX opened at $53.83 on Friday. The stock has a 50 day moving average of $43.09 and a two-hundred day moving average of $38.10. Vertex, Inc. has a 12 month low of $23.31 and a 12 month high of $54.50. The firm has a market cap of $8.40 billion, a P/E ratio of 299.06, a price-to-earnings-growth ratio of 10.03 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 (NASDAQ:VERX) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. The firm had revenue of $170.40 million during the quarter, compared to analysts’ expectations of $165.70 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.06 earnings per share. On average, analysts expect that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vertex

Several hedge funds and other institutional investors have recently modified their holdings of VERX. Vanguard Group Inc. raised its holdings in Vertex by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 5,791,215 shares of the company’s stock valued at $183,929,000 after acquiring an additional 235,407 shares during the last quarter. FMR LLC increased its holdings in shares of Vertex by 2.5% in the third quarter. FMR LLC now owns 2,287,774 shares of the company’s stock valued at $88,102,000 after purchasing an additional 54,985 shares during the last quarter. Geneva Capital Management LLC lifted its position in Vertex by 40.1% during the third quarter. Geneva Capital Management LLC now owns 1,450,599 shares of the company’s stock worth $55,863,000 after buying an additional 414,945 shares in the last quarter. State Street Corp boosted its stake in Vertex by 36.4% during the third quarter. State Street Corp now owns 1,361,901 shares of the company’s stock worth $52,447,000 after buying an additional 363,595 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Vertex by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,275,283 shares of the company’s stock valued at $49,121,000 after buying an additional 37,592 shares in the last quarter. 59.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VERX has been the topic of a number of analyst reports. Morgan Stanley raised their price objective on shares of Vertex from $50.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Jefferies Financial Group raised shares of Vertex from a “hold” rating to a “buy” rating and lifted their price objective for the company from $35.00 to $50.00 in a report on Monday, November 4th. Robert W. Baird increased their target price on shares of Vertex from $43.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Needham & Company LLC lifted their price target on Vertex from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group upped their price target on Vertex from $42.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.