Vertex, Inc. (NASDAQ:VERX - Get Free Report) CAO Ryan Leib sold 6,963 shares of the firm's stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $17.39, for a total value of $121,086.57. Following the transaction, the chief accounting officer owned 810 shares of the company's stock, valued at $14,085.90. This represents a 89.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Vertex Trading Down 0.4%
Shares of VERX opened at $17.75 on Friday. The stock has a market capitalization of $2.88 billion, a PE ratio of 34.96 and a beta of 0.77. The company's fifty day moving average is $13.71 and its 200 day moving average is $13.24. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.75 and a current ratio of 0.75. Vertex, Inc. has a fifty-two week low of $10.21 and a fifty-two week high of $20.82.
Vertex (NASDAQ:VERX - Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.22 by $0.04. Vertex had a negative net margin of 5.83% and a positive return on equity of 36.83%. The business had revenue of $213.28 million during the quarter, compared to analyst estimates of $209.72 million. During the same quarter last year, the business earned $0.17 earnings per share. Vertex's quarterly revenue was up 11.0% compared to the same quarter last year. Sell-side analysts expect that Vertex, Inc. will post 0.61 earnings per share for the current fiscal year.
Institutional Trading of Vertex
A number of institutional investors have recently bought and sold shares of VERX. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Vertex during the first quarter worth $37,796,000. Gagnon Securities LLC lifted its holdings in shares of Vertex by 37.3% in the 3rd quarter. Gagnon Securities LLC now owns 1,045,187 shares of the company's stock worth $12,312,000 after acquiring an additional 284,161 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Vertex by 1,906.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 935,668 shares of the company's stock worth $11,125,000 after acquiring an additional 889,042 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Vertex by 8.1% in the 1st quarter. Renaissance Technologies LLC now owns 290,500 shares of the company's stock worth $3,454,000 after acquiring an additional 21,700 shares during the last quarter. Finally, North Star Asset Management Inc. bought a new stake in shares of Vertex in the 2nd quarter worth about $2,899,000. 70.32% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on VERX shares. DA Davidson set a $16.00 target price on shares of Vertex in a research report on Thursday, November 5th. Needham & Company LLC lifted their price target on Vertex from $20.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, November 5th. Morgan Stanley cut Vertex from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $19.00 to $15.00 in a research note on Tuesday, July 21st. Wall Street Zen upgraded Vertex from a "hold" rating to a "buy" rating in a research report on Sunday, October 18th. Finally, Robert W. Baird decreased their price objective on Vertex from $19.00 to $17.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 4th. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $18.79.
Read Our Latest Stock Report on Vertex
About Vertex
(
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Vertex, Inc. provides tax technology and related services to businesses. Founded in 1978 and headquartered in King of Prussia, Pennsylvania, the company develops software that helps organizations manage the complexities of transaction taxes. Its products support tax determination and calculation, compliance and reporting, tax data management, and exemption certificate management. Vertex solutions are designed to integrate with business systems such as enterprise resource planning and e-commerce platforms, helping companies automate tax processes across their operations.
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