Vertex, Inc. (NASDAQ:VERX) General Counsel Sells $1,555,343.44 in Stock

Vertex, Inc. (NASDAQ:VERX) General Counsel Bryan T.R. Rowland sold 43,228 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $35.98, for a total value of $1,555,343.44. Following the completion of the sale, the general counsel now directly owns 132 shares of the company’s stock, valued at approximately $4,749.36. This trade represents a 99.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Vertex Trading Down 1.2 %

Shares of VERX stock opened at $35.71 on Monday. The firm has a 50-day moving average price of $46.33 and a 200 day moving average price of $46.52. Vertex, Inc. has a twelve month low of $27.22 and a twelve month high of $60.71. The company has a market capitalization of $5.65 billion, a price-to-earnings ratio of 198.39, a PEG ratio of 6.66 and a beta of 0.87. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29.

Vertex (NASDAQ:VERX) last announced its earnings results on Thursday, February 27th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.03). The firm had revenue of $178.46 million during the quarter, compared to analyst estimates of $176.90 million. Vertex had a net margin of 4.73% and a return on equity of 24.92%. Research analysts forecast that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

VERX has been the subject of a number of recent analyst reports. Raymond James reissued a “market perform” rating on shares of Vertex in a report on Friday, January 3rd. Citigroup lifted their price target on Vertex from $46.00 to $54.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Robert W. Baird cut their price target on Vertex from $62.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. Morgan Stanley lifted their price target on Vertex from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, The Goldman Sachs Group cut their price target on Vertex from $64.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Vertex currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.82.

Institutional Trading of Vertex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VERX. Victory Capital Management Inc. grew 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 buying an additional 27,602 shares during the period. KBC Group NV grew its holdings in Vertex by 46.1% in the 3rd quarter. KBC Group NV now owns 2,099 shares of the company’s stock valued at $81,000 after buying an additional 662 shares during the period. Quest Partners LLC grew its holdings in Vertex by 344.5% in the 3rd quarter. Quest Partners LLC now owns 4,529 shares of the company’s stock valued at $174,000 after buying an additional 3,510 shares during the period. Jennison Associates LLC grew its holdings in Vertex by 36.0% in the 3rd quarter. Jennison Associates LLC now owns 469,526 shares of the company’s stock valued at $18,081,000 after buying an additional 124,169 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in Vertex by 126.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock valued at $37,000 after buying an additional 540 shares during the period. Hedge funds and other institutional investors own 70.32% of the company’s stock.

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.