Item Second Irr. Trust Fbo Kyl Sells 53,843 Shares of Vertex, Inc. (NASDAQ:VERX) Stock

Vertex, Inc. (NASDAQ:VERX) major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $56.48, for a total value of $3,041,052.64. Following the sale, the insider now owns 1,229,257 shares in the company, valued at $69,428,435.36. The trade was a 4.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own at least 10% 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, December 9th, Item Second Irr. Trust Fbo Kyl sold 13,346 shares of Vertex stock. The stock was sold at an average price of $55.13, for a total value of $735,764.98.
• On Wednesday, November 20th, Item Second Irr. Trust Fbo Kyl sold 40,966 shares of Vertex stock. The shares were sold at an average price of $52.16, for a total value of $2,136,786.56.

Vertex Stock Performance

Shares of NASDAQ VERX opened at $57.00 on Friday. Vertex, Inc. has a 1 year low of $24.17 and a 1 year high of $58.22. The firm has a market cap of $8.89 billion, a P/E ratio of 316.67, a PEG ratio of 8.30 and a beta of 0.77. The stock has a fifty day moving average price of $53.74 and a two-hundred day moving average price of $44.26. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04.

Vertex (NASDAQ:VERX) last announced its earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The business had revenue of $170.40 million during the quarter, compared to analysts’ expectations of $165.70 million. During the same quarter last year, the business posted $0.06 earnings per share. The company’s quarterly revenue was up 17.5% on a year-over-year basis. Research analysts forecast that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VERX has been the topic of a number of analyst reports. BMO Capital Markets increased their price objective on shares of Vertex from $42.00 to $52.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Raymond James restated a “market perform” rating on shares of Vertex in a research report on Friday, January 3rd. Morgan Stanley lifted their price target on Vertex from $50.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Robert W. Baird increased their price objective on Vertex from $43.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Jefferies Financial Group upgraded Vertex from a “hold” rating to a “buy” rating and raised their target price for the company from $35.00 to $50.00 in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $55.36.

Hedge Funds Weigh In On Vertex

Several hedge funds have recently made changes to their positions in the business. KBC Group NV lifted its stake in Vertex by 27.1% during the fourth quarter. KBC Group NV now owns 2,668 shares of the company’s stock valued at $142,000 after purchasing an additional 569 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Vertex by 11.4% during the 4th quarter. Blue Trust Inc. now owns 2,516 shares of the company’s stock valued at $134,000 after acquiring an additional 257 shares during the last quarter. Sheets Smith Wealth Management boosted its stake in shares of Vertex by 2.2% during the 4th quarter. Sheets Smith Wealth Management now owns 15,099 shares of the company’s stock worth $806,000 after acquiring an additional 324 shares in the last quarter. Ellsworth Advisors LLC boosted its stake in shares of Vertex by 3.5% during the 4th quarter. Ellsworth Advisors LLC now owns 17,291 shares of the company’s stock worth $922,000 after acquiring an additional 584 shares in the last quarter. Finally, Armstrong Advisory Group Inc. acquired a new position in shares of Vertex in the 4th quarter worth $50,000. Institutional investors and hedge funds own 70.32% of the company’s stock.

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.