Item Second Irr. Trust Fbo Jac Sells 26,645 Shares of Vertex, Inc. (NASDAQ:VERX) Stock

Vertex, Inc. (NASDAQ:VERX) insider Item Second Irr. Trust Fbo Jac sold 26,645 shares of Vertex stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $51.40, for a total value of $1,369,553.00. Following the sale, the insider now directly owns 906,061 shares in the company, valued at $46,571,535.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Monday, November 11th, Item Second Irr. Trust Fbo Jac sold 8,485 shares of Vertex stock. The stock was sold at an average price of $49.50, for a total value of $420,007.50.
• On Monday, October 14th, Item Second Irr. Trust Fbo Jac sold 56,419 shares of Vertex stock. The stock was sold at an average price of $40.77, for a total value of $2,300,202.63.
• On Friday, October 11th, Item Second Irr. Trust Fbo Jac sold 46,098 shares of Vertex stock. The shares were sold at an average price of $40.48, for a total transaction of $1,866,047.04.
• On Wednesday, October 9th, Item Second Irr. Trust Fbo Jac sold 49,114 shares of Vertex stock. The stock was sold at an average price of $41.31, for a total transaction 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 transaction of $2,162,287.26.

Vertex Price Performance

VERX opened at $49.75 on Wednesday. The company has a fifty day moving average price of $40.62 and a two-hundred day moving average price of $37.00. The firm has a market capitalization of $7.74 billion, a PE ratio of 276.39, a P/E/G ratio of 9.88 and a beta of 0.67. Vertex, Inc. has a 52 week low of $23.31 and a 52 week high of $52.93. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04.

Vertex (NASDAQ:VERX) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The business 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 was up 17.5% on a year-over-year basis. As a group, analysts anticipate that Vertex, Inc. will post 0.36 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Vertex from $41.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC increased their target price on Vertex from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Baird R W upgraded shares of Vertex to a “strong-buy” rating in a research report on Tuesday, July 23rd. BMO Capital Markets raised their price objective on shares of Vertex from $42.00 to $52.00 and gave the company a “market perform” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird upped their target price on shares of Vertex from $43.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Vertex presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.22.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of VERX. Banque Pictet & Cie SA boosted its position in shares of Vertex by 551.9% during the second quarter. Banque Pictet & Cie SA now owns 949,540 shares of the company’s stock worth $34,231,000 after purchasing an additional 803,881 shares in the last quarter. Pembroke Management LTD grew its position in shares of Vertex by 255.3% in the 1st quarter. Pembroke Management LTD now owns 927,129 shares of the company’s stock valued at $29,446,000 after purchasing an additional 666,223 shares during the period. Driehaus Capital Management LLC acquired a new position in shares of Vertex in the 2nd quarter valued at approximately $22,173,000. Brown Capital Management LLC acquired a new stake in Vertex during the 3rd quarter worth approximately $20,938,000. Finally, Premier Fund Managers Ltd lifted its stake in Vertex by 787.0% in the third quarter. Premier Fund Managers Ltd now owns 524,775 shares of the company’s stock valued at $19,280,000 after buying an additional 465,610 shares in the last quarter. Institutional investors own 59.10% of the company’s stock.

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.