Insider Selling: Vertex, Inc. (NASDAQ:VERX) General Counsel Sells 3,020 Shares of Stock

Vertex, Inc. (NASDAQ:VERX) General Counsel Bryan T.R. Rowland sold 3,020 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $55.08, for a total transaction of $166,341.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Vertex Trading Down 1.6 %

Shares of Vertex stock opened at $54.25 on Friday. The company has a market capitalization of $8.46 billion, a P/E ratio of 301.39, a price-to-earnings-growth ratio of 10.18 and a beta of 0.67. The stock has a fifty day simple moving average of $44.20 and a 200 day simple moving average of $38.66. Vertex, Inc. has a 12-month low of $23.31 and a 12-month high of $55.52. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29.

Vertex (NASDAQ:VERX) last announced its earnings results on Wednesday, November 6th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The company had revenue of $170.40 million during the quarter, compared to the consensus estimate of $165.70 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, sell-side analysts anticipate that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vertex

A number of hedge funds and other institutional investors have recently modified their holdings of VERX. Franklin Resources Inc. lifted its holdings in Vertex by 17.6% during the third quarter. Franklin Resources Inc. now owns 1,690,045 shares of the company’s stock worth $69,444,000 after acquiring an additional 253,263 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of Vertex during the 3rd quarter valued at $2,354,000. Geode Capital Management LLC raised its stake in shares of Vertex by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,275,283 shares of the company’s stock worth $49,121,000 after purchasing an additional 37,592 shares during the period. Barclays PLC boosted its holdings in shares of Vertex by 5.4% in the 3rd quarter. Barclays PLC now owns 582,273 shares of the company’s stock worth $22,424,000 after buying an additional 29,700 shares during the last quarter. Finally, Pier Capital LLC grew its position in Vertex by 1.8% during the third quarter. Pier Capital LLC now owns 231,390 shares of the company’s stock valued at $8,911,000 after buying an additional 4,195 shares during the period. Hedge funds and other institutional investors own 59.10% of the company’s stock.

Wall Street Analyst Weigh In

VERX has been the topic of a number of research analyst reports. JMP Securities upped their price target on shares of Vertex from $47.00 to $61.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. Robert W. Baird upped their target price on Vertex from $43.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Stifel Nicolaus lifted their target price on Vertex from $41.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC boosted their target price on shares of Vertex from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group raised shares of Vertex from a “hold” rating to a “buy” rating and lifted their price target for the company from $35.00 to $50.00 in a research note on Monday, November 4th. Three 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.30.

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.