Item Second Irr. Trust Fbo Jac Sells 49,114 Shares of Vertex, Inc. (NASDAQ:VERX) Stock

Vertex, Inc. (NASDAQ:VERX) insider Item Second Irr. Trust Fbo Jac sold 49,114 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $41.31, for a total transaction of $2,028,899.34. Following the transaction, the insider now directly owns 1,067,852 shares of the company’s stock, valued at $44,112,966.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• 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 transaction of $2,162,287.26.

Vertex Stock Performance

Shares of VERX opened at $39.65 on Friday. 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 market cap of $6.15 billion, a PE ratio of 991.25, a price-to-earnings-growth ratio of 11.57 and a beta of 0.68. The company’s 50 day simple moving average is $37.23 and its 200-day simple moving average is $34.79. Vertex, Inc. has a 12-month low of $21.92 and a 12-month high of $42.38.

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

Hedge Funds Weigh In On Vertex

A number of hedge funds and other institutional investors have recently bought and sold shares of VERX. Banque Pictet & Cie SA grew its position in Vertex by 551.9% in the 2nd quarter. Banque Pictet & Cie SA now owns 949,540 shares of the company’s stock valued at $34,231,000 after buying an additional 803,881 shares during the last quarter. Pembroke Management LTD lifted its holdings in Vertex by 255.3% in the first quarter. Pembroke Management LTD now owns 927,129 shares of the company’s stock valued at $29,446,000 after acquiring an additional 666,223 shares during the period. Vanguard Group Inc. lifted its holdings in Vertex by 13.0% in the fourth quarter. Vanguard Group Inc. now owns 5,555,808 shares of the company’s stock valued at $149,673,000 after acquiring an additional 637,075 shares during the period. Driehaus Capital Management LLC acquired a new stake in Vertex in the second quarter valued at $22,173,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Vertex in the first quarter valued at $12,043,000. 59.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on VERX. Citigroup lifted their price target on shares of Vertex from $32.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday, June 28th. Baird R W raised shares of Vertex to a “strong-buy” rating in a research note on Tuesday, July 23rd. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of Vertex in a research note on Thursday, June 13th. Robert W. Baird began coverage on shares of Vertex in a research note on Tuesday, July 23rd. They set an “outperform” rating and a $43.00 target price on the stock. Finally, JMP Securities upped their target price on shares of Vertex from $42.00 to $47.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 31st. Four 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $37.30.

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.