Vertex, Inc. (NASDAQ:VERX) Major Shareholder Sells $445,914.28 in Stock

Vertex, Inc. (NASDAQ:VERX – Get Rating) major shareholder Jeffery Westphal sold 23,884 shares of Vertex stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $18.67, for a total transaction of $445,914.28. Following the sale, the insider now owns 8,794,868 shares of the company’s stock, valued at $164,200,185.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Jeffery Westphal also recently made the following trade(s):

• On Thursday, March 16th, Jeffery Westphal sold 1,375,164 shares of Vertex stock. The shares were sold at an average price of $17.75, for a total transaction of $24,409,161.00.
• On Wednesday, March 8th, Jeffery Westphal sold 62,857 shares of Vertex stock. The shares were sold at an average price of $18.63, for a total transaction of $1,171,025.91.
• On Thursday, March 2nd, Jeffery Westphal sold 50,000 shares of Vertex stock. The shares were sold at an average price of $15.66, for a total transaction of $783,000.00.
• On Tuesday, February 28th, Jeffery Westphal sold 44,391 shares of Vertex stock. The shares were sold at an average price of $15.82, for a total transaction of $702,265.62.

Vertex Trading Down 0.7 %

Shares of VERX opened at $18.48 on Friday. Vertex, Inc. has a 52-week low of $9.44 and a 52-week high of $19.31. The company has a quick ratio of 0.59, a current ratio of 0.60 and a debt-to-equity ratio of 0.20. The firm’s fifty day moving average is $14.75 and its two-hundred day moving average is $15.11. The stock has a market cap of $2.77 billion, a PE ratio of -205.33, a price-to-earnings-growth ratio of 14.30 and a beta of 0.51.

Institutional Investors Weigh In On Vertex

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its stake in Vertex by 1.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 72,406 shares of the company’s stock worth $820,000 after purchasing an additional 762 shares during the last quarter. Sei Investments Co. boosted its stake in Vertex by 5.7% during the 4th quarter. Sei Investments Co. now owns 14,524 shares of the company’s stock worth $211,000 after purchasing an additional 785 shares during the last quarter. Truist Financial Corp boosted its stake in Vertex by 1.1% during the 3rd quarter. Truist Financial Corp now owns 90,796 shares of the company’s stock worth $1,241,000 after purchasing an additional 955 shares during the last quarter. Legal & General Group Plc boosted its stake in Vertex by 14.3% during the 4th quarter. Legal & General Group Plc now owns 12,633 shares of the company’s stock worth $183,000 after purchasing an additional 1,579 shares during the last quarter. Finally, Natixis Advisors L.P. boosted its stake in Vertex by 7.8% during the 4th quarter. Natixis Advisors L.P. now owns 23,967 shares of the company’s stock worth $348,000 after purchasing an additional 1,744 shares during the last quarter. Institutional investors and hedge funds own 21.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VERX. Morgan Stanley lifted their target price on shares of Vertex from $10.00 to $12.00 and gave the company an “underweight” rating in a report on Monday, December 19th. Bank of America raised shares of Vertex from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $16.00 to $20.00 in a report on Wednesday, March 8th. BMO Capital Markets lifted their target price on shares of Vertex from $16.00 to $19.00 and gave the company a “market perform” rating in a report on Thursday, March 9th. Needham & Company LLC lifted their target price on shares of Vertex from $19.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, March 9th. Finally, Jefferies Financial Group lowered shares of Vertex from a “buy” rating to a “hold” rating and boosted their price target for the stock from $13.50 to $15.00 in a report on Thursday, January 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Vertex currently has a consensus rating of “Hold” and a consensus price target of $20.11.

Vertex Company Profile

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Vertex, Inc provides tax technology solutions for corporations in retail, communication, leasing, and manufacturing industries in the United States and internationally. It offers tax determination, compliance and reporting, tax data management, document management, pre-built integration, and industry-specific solutions.