Vertex, Inc. (NASDAQ:VERX) Insider 2020 Irrevocable Trust For Ben Sells 30,692 Shares

Vertex, Inc. (NASDAQ:VERX) insider 2020 Irrevocable Trust For Ben sold 30,692 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $30.22, for a total value of $927,512.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

2020 Irrevocable Trust For Ben also recently made the following trade(s):

• On Monday, March 25th, 2020 Irrevocable Trust For Ben sold 47,522 shares of Vertex stock. The shares were sold at an average price of $30.09, for a total value of $1,429,936.98.

Vertex Trading Up 3.6 %

VERX opened at $31.76 on Friday. Vertex, Inc. has a 12 month low of $17.59 and a 12 month high of $35.38. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average of $27.39 and a 200 day moving average of $25.80. The firm has a market cap of $4.90 billion, a P/E ratio of -317.60, a P/E/G ratio of 7.90 and a beta of 0.63.

Vertex (NASDAQ:VERX) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The firm had revenue of $154.91 million during the quarter, compared to analyst estimates of $146.44 million. Vertex had a positive return on equity of 16.15% and a negative net margin of 2.29%. As a group, research analysts forecast that Vertex, Inc. will post 0.36 EPS for the current year.

Institutional Trading of Vertex

A number of large investors have recently made changes to their positions in the stock. UBS Group AG increased its stake in Vertex by 5.2% in the 4th quarter. UBS Group AG now owns 8,869 shares of the company’s stock worth $239,000 after buying an additional 441 shares during the period. Arcadia Investment Management Corp MI grew its stake in Vertex by 22.4% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 2,664 shares of the company’s stock worth $62,000 after acquiring an additional 488 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Vertex by 1.3% during the fourth quarter. California State Teachers Retirement System now owns 43,396 shares of the company’s stock worth $1,169,000 after acquiring an additional 544 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Vertex by 2.0% during the third quarter. Bank of New York Mellon Corp now owns 34,526 shares of the company’s stock valued at $798,000 after acquiring an additional 673 shares in the last quarter. Finally, RiverPark Advisors LLC boosted its holdings in shares of Vertex by 28.4% in the fourth quarter. RiverPark Advisors LLC now owns 3,319 shares of the company’s stock valued at $89,000 after purchasing an additional 735 shares during the period. 59.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on VERX. Bank of America upgraded Vertex from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $23.00 to $40.00 in a report on Friday, March 1st. Jefferies Financial Group boosted their target price on Vertex from $27.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, March 1st. The Goldman Sachs Group boosted their price target on Vertex from $33.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, March 1st. JMP Securities raised their price objective on shares of Vertex from $31.00 to $42.00 and gave the stock a “market outperform” rating in a report on Friday, March 1st. Finally, Needham & Company LLC upped their target price on shares of Vertex from $35.00 to $45.00 and gave the company a “buy” rating in a report on Friday, March 1st. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Vertex currently has an average rating of “Moderate Buy” and a consensus price target of $35.78.

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.