Vertex, Inc. (NASDAQ:VERX - Get Free Report) major shareholder Jeffrey Westphal sold 791,133 shares of the business's stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $30.05, for a total value of $23,773,546.65. Following the sale, the insider now owns 1,554,641 shares of the company's stock, valued at approximately $46,716,962.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.
Vertex Stock Up 2.1 %
Shares of VERX opened at $32.57 on Wednesday. Vertex, Inc. has a one year low of $17.59 and a one year high of $35.38. The company has a market cap of $5.03 billion, a P/E ratio of -325.70, a P/E/G ratio of 8.18 and a beta of 0.62. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.60 and a quick ratio of 0.60. The firm has a 50 day simple moving average of $28.50 and a two-hundred day simple moving average of $26.47.
Vertex (NASDAQ:VERX - Get Free Report) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. Vertex had a negative net margin of 2.29% and a positive return on equity of 16.15%. The business had revenue of $154.91 million during the quarter, compared to the consensus estimate of $146.44 million. Research analysts forecast that Vertex, Inc. will post 0.36 EPS for the current fiscal year.
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Several equities research analysts recently issued reports on VERX shares. Needham & Company LLC boosted their price target on Vertex from $35.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, March 1st. JMP Securities boosted their price target on Vertex from $31.00 to $42.00 and gave the company a "market outperform" rating in a research note on Friday, March 1st. The Goldman Sachs Group boosted their price target on Vertex from $33.00 to $39.00 and gave the company a "buy" rating in a research note on Friday, March 1st. Bank of America upgraded Vertex from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $23.00 to $40.00 in a research note on Friday, March 1st. Finally, Jefferies Financial Group boosted their price target on Vertex from $27.00 to $35.00 and gave the company a "hold" rating in a research note on Friday, March 1st. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Vertex has a consensus rating of "Moderate Buy" and an average target price of $35.78.
Get Our Latest Stock Report on Vertex
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. acquired a new position in shares of Vertex during the fourth quarter worth $38,000. Wells Fargo & Company MN increased its holdings in shares of Vertex by 124.1% during the second quarter. Wells Fargo & Company MN now owns 2,024 shares of the company's stock worth $39,000 after buying an additional 1,121 shares in the last quarter. Ensign Peak Advisors Inc acquired a new position in shares of Vertex during the first quarter worth $33,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Vertex during the third quarter worth $49,000. Finally, RiverPark Advisors LLC acquired a new position in shares of Vertex during the third quarter worth $60,000. 59.10% of the stock is currently owned by institutional investors and hedge funds.
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.
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