Vertex, Inc. (NASDAQ:VERX) Shares Sold by Algert Global LLC

Algert Global LLC lowered its position in shares of Vertex, Inc. (NASDAQ:VERX) by 47.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,626 shares of the company’s stock after selling 17,904 shares during the quarter. Algert Global LLC’s holdings in Vertex were worth $708,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Blue Trust Inc. bought a new position in Vertex during the second quarter worth $28,000. Quest Partners LLC bought a new position in Vertex during the 2nd quarter worth $37,000. Canada Pension Plan Investment Board acquired a new stake in Vertex in the second quarter worth $40,000. Amalgamated Bank bought a new stake in Vertex in the second quarter valued at $68,000. Finally, Sandia Investment Management LP acquired a new position in shares of Vertex during the first quarter valued at $159,000. Institutional investors own 59.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Baird R W upgraded shares of Vertex to a “strong-buy” rating in a research report on Tuesday, July 23rd. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price objective on shares of Vertex in a report on Thursday, June 13th. Robert W. Baird initiated coverage on Vertex in a research report on Tuesday, July 23rd. They issued an “outperform” rating and a $43.00 target price on the stock. JMP Securities boosted their price target on Vertex from $42.00 to $47.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 31st. Finally, Citigroup raised their price target on Vertex from $32.00 to $36.00 and gave the company a “neutral” rating in a report on Friday, June 28th. Four 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.30.

Insider Transactions at Vertex

In related news, major shareholder Jeffrey Westphal sold 1,500,000 shares of Vertex stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $37.81, for a total value of $56,715,000.00. Following the transaction, the insider now directly owns 1,054,641 shares in the company, valued at $39,875,976.21. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director John Richard Stamm sold 16,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $35.95, for a total transaction of $575,200.00. Following the sale, the director now owns 21,635 shares in the company, valued at $777,778.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Jeffrey Westphal sold 1,500,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $37.81, for a total transaction of $56,715,000.00. Following the completion of the transaction, the insider now directly owns 1,054,641 shares of the company’s stock, valued at $39,875,976.21. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,699,900 shares of company stock valued at $64,107,653 in the last three months. 45.00% of the stock is currently owned by corporate insiders.

Vertex Price Performance

Shares of NASDAQ VERX opened at $40.48 on Friday. Vertex, Inc. has a twelve month low of $21.92 and a twelve month high of $42.38. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.43. The firm has a 50-day moving average of $37.10 and a two-hundred day moving average of $34.52. The company has a market capitalization of $6.30 billion, a price-to-earnings ratio of 1,012.00, a PEG ratio of 11.75 and a beta of 0.68.

Vertex (NASDAQ:VERX) last released its earnings results on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. The business had revenue of $161.10 million during the quarter, compared to analyst estimates of $160.66 million. Vertex had a net margin of 3.20% and a return on equity of 22.32%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 earnings per share. As a group, analysts expect that Vertex, Inc. will post 0.34 earnings per share for the current fiscal year.

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.