Jeffrey Westphal Sells 1,225,000 Shares of Vertex, Inc. (NASDAQ:VERX) Stock

Vertex, Inc. (NASDAQ:VERX) major shareholder Jeffrey Westphal sold 1,225,000 shares of the stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $39.42, for a total value of $48,289,500.00. Following the transaction, the insider now directly owns 7,895 shares in the company, valued at $311,220.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Jeffrey Westphal also recently made the following trade(s):

• On Tuesday, July 23rd, Jeffrey Westphal sold 1,500,000 shares of Vertex stock. The shares were sold at an average price of $37.81, for a total value of $56,715,000.00.

Vertex Trading Up 0.5 %

VERX opened at $41.21 on Wednesday. The stock has a 50-day moving average of $37.17 and a 200 day moving average of $34.71. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.43. Vertex, Inc. has a 12 month low of $21.92 and a 12 month high of $42.38. The firm has a market cap of $6.41 billion, a P/E ratio of 1,030.25, a P/E/G ratio of 11.57 and a beta of 0.68.

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

Institutional Investors Weigh In On Vertex

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Vertex by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 5,791,215 shares of the company’s stock worth $183,929,000 after purchasing an additional 235,407 shares during the period. TimesSquare Capital Management LLC raised its holdings in shares of Vertex by 2.3% in the first quarter. TimesSquare Capital Management LLC now owns 1,386,848 shares of the company’s stock worth $44,046,000 after buying an additional 30,523 shares during the period. Banque Pictet & Cie SA lifted its stake in shares of Vertex by 551.9% during the 2nd quarter. Banque Pictet & Cie SA now owns 949,540 shares of the company’s stock worth $34,231,000 after acquiring an additional 803,881 shares during the last quarter. Pembroke Management LTD boosted its holdings in Vertex by 255.3% during the 1st 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. Finally, William Blair Investment Management LLC grew its position in Vertex by 8.1% in the 2nd quarter. William Blair Investment Management LLC now owns 782,715 shares of the company’s stock valued at $28,217,000 after acquiring an additional 58,678 shares during the last quarter. Institutional investors own 59.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on VERX shares. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price objective on shares of Vertex in a research note on Thursday, June 13th. Robert W. Baird started coverage on shares of Vertex in a report on Tuesday, July 23rd. They issued an “outperform” rating and a $43.00 target price for the company. Baird R W upgraded shares of Vertex to a “strong-buy” rating in a research report on Tuesday, July 23rd. JMP Securities upped their price objective on Vertex from $42.00 to $47.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 31st. Finally, Citigroup upped their price target on Vertex from $32.00 to $36.00 and gave the stock a “neutral” rating in a research note on Friday, June 28th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Vertex presently has an average rating of “Moderate Buy” and a consensus price target of $37.30.

Vertex Company Profile

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.