Vertex, Inc. (NASDAQ:VERX - Get Free Report) insider 2020 Irrevocable Trust For Ben sold 30,692 shares of the business's stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $30.22, for a total value of $927,512.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
2020 Irrevocable Trust For Ben also recently made the following trade(s):
- On Monday, March 25th, 2020 Irrevocable Trust For Ben sold 47,522 shares of Vertex stock. The shares were sold at an average price of $30.09, for a total value of $1,429,936.98.
Vertex Trading Up 3.6 %
Vertex stock opened at $31.76 on Friday. The stock has a market cap of $4.90 billion, a P/E ratio of -317.60, a PEG ratio of 7.90 and a beta of 0.63. Vertex, Inc. has a fifty-two week low of $17.59 and a fifty-two week high of $35.38. The firm's fifty day moving average price is $27.39 and its 200-day moving average price is $25.80. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.60 and a current ratio of 0.60.
Vertex (NASDAQ:VERX - Get Free Report) last released its earnings results on Thursday, February 29th. The company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.02. The business had revenue of $154.91 million for the quarter, compared to analysts' expectations of $146.44 million. Vertex had a positive return on equity of 16.15% and a negative net margin of 2.29%. Equities research analysts forecast that Vertex, Inc. will post 0.36 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
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A number of institutional investors have recently added to or reduced their stakes in VERX. Pinebridge Investments L.P. bought a new position in Vertex in the second quarter valued at $27,000. Ensign Peak Advisors Inc purchased a new stake in Vertex during the first quarter valued at about $33,000. Point72 Asset Management L.P. purchased a new stake in Vertex during the fourth quarter valued at about $38,000. Wells Fargo & Company MN boosted its position in Vertex by 124.1% during the second quarter. Wells Fargo & Company MN now owns 2,024 shares of the company's stock valued at $39,000 after buying an additional 1,121 shares during the period. Finally, Deutsche Bank AG purchased a new stake in Vertex during the fourth quarter valued at about $41,000. Institutional investors own 59.10% of the company's stock.
Analysts Set New Price Targets
VERX has been the topic of several research analyst reports. Bank of America upgraded Vertex from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $23.00 to $40.00 in a research note on Friday, March 1st. Citigroup lowered their target price on shares of Vertex from $29.00 to $27.00 and set a "neutral" rating on the stock in a report on Friday, January 12th. The Goldman Sachs Group boosted their target price on shares of Vertex from $33.00 to $39.00 and gave the company a "buy" rating in a report on Friday, March 1st. Needham & Company LLC boosted their target price on shares of Vertex from $35.00 to $45.00 and gave the company a "buy" rating in a report on Friday, March 1st. Finally, BMO Capital Markets boosted their target price on shares of Vertex from $30.00 to $35.00 and gave the company a "market perform" rating in a report on Friday, March 1st. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.78.
Get Our Latest Stock Report on VERX
About Vertex
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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.
Further Reading
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