Item Second Irr. Trust Fbo Jac Sells 56,419 Shares of Vertex, Inc. (NASDAQ:VERX) Stock

Vertex, Inc. (NASDAQ:VERX) insider Item Second Irr. Trust Fbo Jac sold 56,419 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $40.77, for a total value of $2,300,202.63. Following the completion of the transaction, the insider now directly owns 932,706 shares in the company, valued at $38,026,423.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Item Second Irr. Trust Fbo Jac also recently made the following trade(s):

• On Friday, October 11th, Item Second Irr. Trust Fbo Jac sold 46,098 shares of Vertex stock. The stock was sold at an average price of $40.48, for a total value of $1,866,047.04.
• On Wednesday, October 9th, Item Second Irr. Trust Fbo Jac sold 49,114 shares of Vertex stock. The shares were sold at an average price of $41.31, for a total value of $2,028,899.34.
• On Monday, October 7th, Item Second Irr. Trust Fbo Jac sold 52,713 shares of Vertex stock. The shares were sold at an average price of $41.02, for a total value of $2,162,287.26.

Vertex Price Performance

VERX opened at $42.71 on Thursday. The business has a fifty day moving average of $37.49 and a 200 day moving average of $35.05. Vertex, Inc. has a 52-week low of $21.92 and a 52-week high of $42.80. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.43. The stock has a market cap of $6.64 billion, a P/E ratio of 355.92, a PEG ratio of 11.74 and a beta of 0.68.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on VERX shares. 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. Baird R W upgraded Vertex to a “strong-buy” rating in a report on Tuesday, July 23rd. Robert W. Baird started coverage on Vertex in a report on Tuesday, July 23rd. They set an “outperform” rating and a $43.00 price target for the company. Finally, JMP Securities raised their price target on Vertex from $42.00 to $47.00 and gave the company a “market outperform” rating in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Vertex currently has a consensus rating of “Moderate Buy” and an average price target of $37.30.

Institutional Investors Weigh In On Vertex

Institutional investors and hedge funds have recently bought and sold shares of the company. Silvercrest Asset Management Group LLC raised its position in shares of Vertex by 13.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 712,926 shares of the company’s stock worth $22,643,000 after acquiring an additional 85,237 shares in the last quarter. Cannon Global Investment Management LLC bought a new position in shares of Vertex in the 1st quarter worth $673,000. Driehaus Capital Management LLC bought a new position in shares of Vertex in the 2nd quarter worth $22,173,000. Allspring Global Investments Holdings LLC bought a new position in shares of Vertex in the 1st quarter worth $12,043,000. Finally, Quadrature Capital Ltd raised its position in shares of Vertex by 24.7% in the 1st 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 in the last quarter. 59.10% of the stock is owned by institutional investors.

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.