Bryan T.R. Rowland Sells 43,228 Shares of Vertex, Inc. (NASDAQ:VERX) Stock

Vertex, Inc. (NASDAQ:VERX) General Counsel Bryan T.R. Rowland sold 43,228 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $35.98, for a total value of $1,555,343.44. Following the sale, the general counsel now directly owns 132 shares of the company’s stock, valued at $4,749.36. The trade was a 99.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Vertex Price Performance

Shares of NASDAQ:VERX opened at $35.71 on Friday. The business’s 50 day moving average is $46.33 and its 200-day moving average is $46.45. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $5.65 billion, a PE ratio of 198.39, a PEG ratio of 6.66 and a beta of 0.87. Vertex, Inc. has a 1-year low of $27.22 and a 1-year high of $60.71.

Vertex (NASDAQ:VERX) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.03). The business had revenue of $178.46 million during the quarter, compared to the consensus estimate of $176.90 million. Vertex had a net margin of 4.73% and a return on equity of 24.92%. Sell-side analysts predict that Vertex, Inc. will post 0.38 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VERX. Vanguard Group Inc. boosted its holdings in Vertex by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 6,858,981 shares of the company’s stock valued at $365,927,000 after purchasing an additional 137,666 shares in the last quarter. Neuberger Berman Group LLC grew its position in Vertex by 1.5% in the fourth quarter. Neuberger Berman Group LLC now owns 3,527,604 shares of the company’s stock valued at $188,198,000 after acquiring an additional 53,829 shares during the period. FMR LLC raised its stake in Vertex by 25.4% during the fourth quarter. FMR LLC now owns 2,868,438 shares of the company’s stock worth $153,031,000 after acquiring an additional 580,664 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Vertex by 26.0% during the fourth quarter. Franklin Resources Inc. now owns 2,129,099 shares of the company’s stock valued at $113,587,000 after acquiring an additional 439,054 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Vertex by 342.5% during the fourth quarter. Invesco Ltd. now owns 1,513,660 shares of the company’s stock valued at $80,754,000 after acquiring an additional 1,171,576 shares during the period. Institutional investors and hedge funds own 70.32% of the company’s stock.

Wall Street Analyst Weigh In

VERX has been the subject of several recent analyst reports. Morgan Stanley upped their price objective on shares of Vertex from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday. DA Davidson decreased their price target on shares of Vertex from $62.00 to $55.00 and set a “buy” rating for the company in a report on Friday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price target on shares of Vertex in a research report on Thursday. Raymond James reissued a “market perform” rating on shares of Vertex in a research report on Friday, January 3rd. Finally, Stifel Nicolaus lowered Vertex from a “buy” rating to a “hold” rating and lowered their target price for the company from $58.00 to $31.00 in a report on Friday, February 28th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.82.

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.