Insider Selling: Vertex, Inc. (NASDAQ:VERX) General Counsel Sells 43,228 Shares of Stock

Vertex, Inc. (NASDAQ:VERX) General Counsel Bryan T.R. Rowland sold 43,228 shares of Vertex stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $35.98, for a total transaction of $1,555,343.44. Following the completion of the sale, the general counsel now directly owns 132 shares in the company, valued at approximately $4,749.36. This represents a 99.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Vertex Price Performance

Shares of VERX stock traded down $0.45 during trading hours on Friday, reaching $35.71. The stock had a trading volume of 1,844,434 shares, compared to its average volume of 955,792. The stock’s fifty day simple moving average is $46.66 and its 200 day simple moving average is $46.40. The firm has a market capitalization of $5.65 billion, a PE ratio of 198.39, a PEG ratio of 6.66 and a beta of 0.87. Vertex, Inc. has a 12 month low of $27.22 and a 12 month high of $60.71. 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 quarterly earnings results on Thursday, February 27th. The company reported $0.10 EPS 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 the consensus estimate of $176.90 million. Vertex had a net margin of 4.73% and a return on equity of 24.92%. On average, equities research analysts predict that Vertex, Inc. will post 0.38 EPS for the current year.

Hedge Funds Weigh In On Vertex

A number of institutional investors have recently added to or reduced their stakes in VERX. Advisors Asset Management Inc. grew its holdings in shares of Vertex by 126.2% during the third quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock worth $37,000 after purchasing an additional 540 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Vertex during the fourth quarter valued at approximately $38,000. Mark Sheptoff Financial Planning LLC purchased a new position in Vertex in the 4th quarter worth approximately $40,000. Plato Investment Management Ltd bought a new position in shares of Vertex in the 4th quarter worth $41,000. Finally, Armstrong Advisory Group Inc. purchased a new stake in shares of Vertex during the 4th quarter valued at $50,000. 70.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. DA Davidson decreased their price target on shares of Vertex from $62.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Citigroup raised their target price on Vertex from $46.00 to $54.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Morgan Stanley upped their price target on Vertex from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday. Raymond James reissued a “market perform” rating on shares of Vertex in a report on Friday, January 3rd. Finally, The Goldman Sachs Group lowered their price objective on Vertex from $64.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.82.

Vertex Company Profile

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.