Vertex, Inc. (NASDAQ:VERX) Major Shareholder Item Second Irr. Trust Fbo Kyl Sells 40,966 Shares

Vertex, Inc. (NASDAQ:VERX) major shareholder Item Second Irr. Trust Fbo Kyl sold 40,966 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $52.16, for a total transaction of $2,136,786.56. Following the completion of the transaction, the insider now owns 1,389,134 shares in the company, valued at approximately $72,457,229.44. This trade represents a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases 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 transaction of $5,922,203.00.

Vertex Trading Up 0.9 %

NASDAQ VERX traded up $0.46 during trading hours on Friday, hitting $53.90. The company’s stock had a trading volume of 92,238 shares, compared to its average volume of 785,001. The firm has a market capitalization of $8.41 billion, a P/E ratio of 296.72, a PEG ratio of 9.61 and a beta of 0.67. The stock has a fifty day moving average of $42.38 and a 200 day moving average of $37.83. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. Vertex, Inc. has a twelve month low of $23.31 and a twelve month high of $54.00.

Vertex (NASDAQ:VERX) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.16 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $165.70 million. During the same quarter last year, the business posted $0.06 EPS. The firm’s revenue was up 17.5% compared to the same quarter last year. Equities research analysts forecast that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Institutional Trading of Vertex

A number of large investors have recently bought and sold shares of VERX. SG Americas Securities LLC acquired a new stake in shares of Vertex during the first quarter worth $166,000. Vanguard Group Inc. raised its holdings in shares of Vertex by 4.2% during the first quarter. Vanguard Group Inc. now owns 5,791,215 shares of the company’s stock worth $183,929,000 after acquiring an additional 235,407 shares during the period. Bessemer Group Inc. raised its holdings in shares of Vertex by 8.0% during the first quarter. Bessemer Group Inc. now owns 248,738 shares of the company’s stock worth $7,900,000 after acquiring an additional 18,335 shares during the period. Quadrature Capital Ltd raised its holdings in shares of Vertex by 24.7% during the first quarter. Quadrature Capital Ltd now owns 92,167 shares of the company’s stock worth $2,927,000 after acquiring an additional 18,258 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in shares of Vertex during the first quarter worth $192,000. 59.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. 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. Jefferies Financial Group upgraded shares of Vertex from a “hold” rating to a “buy” rating and upped their target price for the stock from $35.00 to $50.00 in a research report on Monday, November 4th. Robert W. Baird upped their target price on shares of Vertex from $43.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. JMP Securities upped their target price on shares of Vertex from $47.00 to $61.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 7th. Finally, BMO Capital Markets upped their target price on shares of Vertex from $42.00 to $52.00 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. Three equities 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’s stock. According to data from MarketBeat.com, Vertex has an average rating of “Moderate Buy” and a consensus price target 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.