Vertex, Inc. (NASDAQ:VERX) General Counsel Sells $1,555,343.44 in Stock

Vertex, Inc. (NASDAQ:VERX - Get Free Report) General Counsel Bryan T.R. Rowland sold 43,228 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $35.98, for a total transaction of $1,555,343.44. Following the transaction, the general counsel now owns 132 shares in the company, valued at $4,749.36. This trade represents a 99.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Vertex Stock Up 0.5 %

Shares of VERX traded up $0.19 during mid-day trading on Tuesday, reaching $35.54. The company's stock had a trading volume of 1,074,667 shares, compared to its average volume of 960,923. The company has a market cap of $5.62 billion, a price-to-earnings ratio of 197.44, a price-to-earnings-growth ratio of 6.66 and a beta of 0.87. The business has a fifty day moving average of $45.99 and a 200 day moving average of $46.52. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. Vertex, Inc. has a 1 year low of $27.22 and a 1 year high of $60.71.

Vertex (NASDAQ:VERX - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.03). The business had revenue of $178.46 million for the quarter, compared to analyst estimates of $176.90 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. As a group, analysts forecast that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

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Analyst Ratings Changes

VERX has been the subject of several research reports. Morgan Stanley lifted their price target on shares of Vertex from $57.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Needham & Company LLC restated a "buy" rating and issued a $60.00 target price on shares of Vertex in a research note on Thursday, March 20th. JMP Securities reiterated a "market outperform" rating and set a $61.00 price target on shares of Vertex in a research report on Monday, December 9th. Jefferies Financial Group cut their price target on Vertex from $62.00 to $48.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Finally, Raymond James restated a "market perform" rating on shares of Vertex in a research note on Friday, January 3rd. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.82.

Hedge Funds Weigh In On Vertex

Several institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. grew its stake in shares of Vertex by 11.4% in the 4th quarter. Blue Trust Inc. now owns 2,516 shares of the company's stock valued at $134,000 after buying an additional 257 shares in the last quarter. Sheets Smith Wealth Management increased its stake in shares of Vertex by 2.2% during the 4th quarter. Sheets Smith Wealth Management now owns 15,099 shares of the company's stock worth $806,000 after purchasing an additional 324 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of Vertex by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,678 shares of the company's stock valued at $303,000 after purchasing an additional 361 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Vertex by 126.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 968 shares of the company's stock valued at $37,000 after purchasing an additional 540 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Vertex by 27.1% in the fourth quarter. KBC Group NV now owns 2,668 shares of the company's stock worth $142,000 after purchasing an additional 569 shares in the last quarter. 70.32% of the stock is currently owned by hedge funds and other 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.