Vertex, Inc. (NASDAQ:VERX) General Counsel Bryan T.R. Rowland Sells 43,228 Shares of Stock

Vertex, Inc. (NASDAQ:VERX) General Counsel Bryan T.R. Rowland sold 43,228 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $35.98, for a total value of $1,555,343.44. Following the completion of the transaction, the general counsel now owns 132 shares of the company’s stock, valued at approximately $4,749.36. This represents a 99.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Vertex Trading Down 1.2 %

NASDAQ:VERX opened at $35.71 on Friday. The company’s 50 day moving average price is $46.33 and its 200-day moving average price is $46.38. Vertex, Inc. has a 52 week low of $27.22 and a 52 week high of $60.71. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of 198.39, a PEG ratio of 6.66 and a beta of 0.87.

Vertex (NASDAQ:VERX) last issued its earnings results on Thursday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.03). Vertex had a return on equity of 24.92% and a net margin of 4.73%. The company had revenue of $178.46 million during the quarter, compared to analysts’ expectations of $176.90 million. On average, equities research analysts forecast that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

VERX has been the subject of several analyst reports. Robert W. Baird cut their target price on Vertex from $62.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. JMP Securities restated a “market outperform” rating and issued a $61.00 price objective on shares of Vertex in a research report on Monday, December 9th. Stifel Nicolaus downgraded shares of Vertex from a “buy” rating to a “hold” rating and lowered their target price for the company from $58.00 to $31.00 in a research note on Friday, February 28th. Raymond James reissued a “market perform” rating on shares of Vertex in a research note on Friday, January 3rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $60.00 price objective on shares of Vertex in a report on Thursday. Five 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.82.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Vertex by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 6,858,981 shares of the company’s stock worth $365,927,000 after acquiring an additional 137,666 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Vertex by 1.5% during the 4th quarter. Neuberger Berman Group LLC now owns 3,527,604 shares of the company’s stock worth $188,198,000 after acquiring an additional 53,829 shares during the last quarter. FMR LLC boosted its stake in shares of Vertex by 25.4% during the 4th quarter. FMR LLC now owns 2,868,438 shares of the company’s stock worth $153,031,000 after acquiring an additional 580,664 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Vertex by 26.0% during the 4th quarter. Franklin Resources Inc. now owns 2,129,099 shares of the company’s stock worth $113,587,000 after acquiring an additional 439,054 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Vertex by 342.5% during the 4th quarter. Invesco Ltd. now owns 1,513,660 shares of the company’s stock worth $80,754,000 after acquiring an additional 1,171,576 shares during the last quarter. Hedge funds and other 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.