Insider Selling: Vertex, Inc. (NASDAQ:VERX) Director Sells 2,500 Shares of Stock

Vertex, Inc. (NASDAQ:VERX) Director John Richard Stamm sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $53.81, for a total value of $134,525.00. Following the completion of the sale, the director now owns 15,535 shares of the company’s stock, valued at approximately $835,938.35. This trade represents a 13.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Vertex Stock Down 1.5 %

NASDAQ VERX traded down $0.84 on Wednesday, hitting $54.31. The stock had a trading volume of 54,182 shares, compared to its average volume of 787,096. Vertex, Inc. has a 52-week low of $23.31 and a 52-week high of $55.52. The business’s fifty day moving average price is $43.84 and its 200 day moving average price is $38.55. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $8.47 billion, a price-to-earnings ratio of 306.39, a price-to-earnings-growth ratio of 10.30 and a beta of 0.67.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on VERX shares. BMO Capital Markets increased their target price on Vertex from $42.00 to $52.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Jefferies Financial Group raised Vertex from a “hold” rating to a “buy” rating and raised their price target for the stock from $35.00 to $50.00 in a research report on Monday, November 4th. Needham & Company LLC increased their price objective on Vertex from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. The Goldman Sachs Group raised their price target on Vertex from $42.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley lifted their price target on Vertex from $50.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. 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 stock. According to MarketBeat.com, Vertex currently has an average rating of “Moderate Buy” and an average target price of $52.30.

Institutional Investors Weigh In On Vertex

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. acquired a new position in Vertex during the second quarter worth approximately $28,000. Quest Partners LLC acquired a new stake in shares of Vertex during the second quarter worth $37,000. Advisors Asset Management Inc. grew its position in Vertex by 126.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock valued at $37,000 after buying an additional 540 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Vertex during the 2nd quarter valued at about $40,000. Finally, Amalgamated Bank acquired a new position in shares of Vertex in the second quarter worth about $68,000. 59.10% of the stock is currently owned by institutional investors and hedge funds.

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.