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

Vertex, Inc. (NASDAQ:VERX) Director John Richard Stamm sold 2,500 shares of Vertex stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $53.81, for a total transaction of $134,525.00. Following the transaction, the director now 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 filing with the SEC, which is available through the SEC website.

Vertex Price Performance

Vertex stock opened at $54.25 on Friday. Vertex, Inc. has a 52-week low of $23.31 and a 52-week high of $55.52. 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 firm’s fifty day moving average is $44.54 and its 200 day moving average is $38.77. The company has a market cap of $8.46 billion, a price-to-earnings ratio of 301.39, a PEG ratio of 10.18 and a beta of 0.67.

Vertex (NASDAQ:VERX) last announced 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. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The firm had revenue of $170.40 million during the quarter, compared to the consensus estimate of $165.70 million. During the same quarter last year, the firm earned $0.06 EPS. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. Sell-side analysts forecast that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Vertex

Large investors have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its stake in Vertex by 406.9% during the third quarter. Victory Capital Management Inc. now owns 34,386 shares of the company’s stock worth $1,324,000 after buying an additional 27,602 shares during the period. Driehaus Capital Management LLC purchased a new position in shares of Vertex during the 2nd quarter worth about $22,173,000. DRW Securities LLC bought a new position in Vertex during the 3rd quarter valued at about $840,000. Envestnet Asset Management Inc. raised its position in Vertex by 10.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 248,001 shares of the company’s stock worth $8,940,000 after purchasing an additional 22,514 shares during the period. Finally, Federated Hermes Inc. bought a new stake in Vertex in the second quarter worth about $1,824,000. Institutional investors own 59.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. BMO Capital Markets raised their price target on Vertex from $42.00 to $52.00 and gave the company a “market perform” rating in a report on Thursday, November 7th. Morgan Stanley lifted their target price on Vertex from $50.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. 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 research note on Thursday, November 7th. Jefferies Financial Group upgraded 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 research report on Monday, November 4th. Finally, Stifel Nicolaus upped their target price on shares of Vertex from $41.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Vertex currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.30.

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.