Vertex, Inc. (NASDAQ:VERX) General Counsel Bryan T.R. Rowland Sells 3,020 Shares

Vertex, Inc. (NASDAQ:VERX) General Counsel Bryan T.R. Rowland sold 3,020 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $55.08, for a total transaction of $166,341.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Vertex Price Performance

Shares of NASDAQ VERX traded down $0.90 during trading on Wednesday, hitting $54.25. 406,614 shares of the company were exchanged, compared to its average volume of 788,735. The company has a market cap of $8.46 billion, a price-to-earnings ratio of 306.39, a PEG ratio of 10.30 and a beta of 0.67. Vertex, Inc. has a 1 year low of $23.31 and a 1 year high of $55.52. The firm’s fifty day moving average price is $43.84 and its 200 day moving average price is $38.55. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04.

Vertex (NASDAQ:VERX) last issued its earnings results on Wednesday, November 6th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. The company had revenue of $170.40 million for the quarter, compared to analyst estimates of $165.70 million. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The business’s revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.06 EPS. On average, sell-side analysts expect that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on VERX. The Goldman Sachs Group lifted their target price on shares of Vertex from $42.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Jefferies Financial Group raised shares of Vertex from a “hold” rating to a “buy” rating and lifted their target price for the company from $35.00 to $50.00 in a report on Monday, November 4th. Needham & Company LLC lifted their target price on shares of Vertex from $45.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, November 7th. BMO Capital Markets boosted their price objective on shares of Vertex from $42.00 to $52.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Finally, Stifel Nicolaus boosted their price objective 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. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.30.

Institutional Investors Weigh In On Vertex

Institutional investors and hedge funds have recently made changes to their positions in the business. Driehaus Capital Management LLC purchased a new stake in shares of Vertex in the 2nd quarter worth about $22,173,000. Victory Capital Management Inc. lifted its holdings in Vertex by 406.9% in the 3rd quarter. Victory Capital Management Inc. now owns 34,386 shares of the company’s stock valued at $1,324,000 after purchasing an additional 27,602 shares in the last quarter. DRW Securities LLC purchased a new position in Vertex in the 3rd quarter valued at about $840,000. Envestnet Asset Management Inc. lifted its holdings in Vertex by 10.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 248,001 shares of the company’s stock valued at $8,940,000 after purchasing an additional 22,514 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new position in Vertex in the 2nd quarter valued at about $1,824,000. 59.10% 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.