Jeffery Westphal Sells 5,000,000 Shares of Vertex, Inc. (NASDAQ:VERX) Stock

Vertex, Inc. (NASDAQ:VERXGet Rating) major shareholder Jeffery Westphal sold 5,000,000 shares of Vertex stock in a transaction on Friday, July 29th. The stock was sold at an average price of $7.35, for a total transaction of $36,750,000.00. Following the transaction, the insider now directly owns 11,300,000 shares of the company’s stock, valued at $83,055,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

  • On Monday, July 11th, Jeffery Westphal sold 69,562 shares of Vertex stock. The stock was sold at an average price of $11.36, for a total transaction of $790,224.32.
  • On Thursday, July 7th, Jeffery Westphal sold 6,723 shares of Vertex stock. The stock was sold at an average price of $12.03, for a total value of $80,877.69.
  • On Thursday, June 30th, Jeffery Westphal sold 150,000 shares of Vertex stock. The stock was sold at an average price of $11.32, for a total value of $1,698,000.00.

Vertex Stock Up 3.5 %

VERX stock opened at $11.76 on Thursday. The company has a market cap of $1.75 billion, a PE ratio of -588.00, a price-to-earnings-growth ratio of 57.60 and a beta of 0.58. The business has a 50-day simple moving average of $10.95 and a 200 day simple moving average of $12.78. Vertex, Inc. has a 52 week low of $9.44 and a 52 week high of $22.88. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.21.

Vertex (NASDAQ:VERXGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $115.00 million during the quarter, compared to the consensus estimate of $113.03 million. Vertex had a positive return on equity of 12.70% and a negative net margin of 0.93%. Vertex’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.04 earnings per share. Sell-side analysts anticipate that Vertex, Inc. will post 0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Comerica Bank grew its position in Vertex by 2.0% in the second quarter. Comerica Bank now owns 268,698 shares of the company’s stock valued at $2,819,000 after acquiring an additional 5,225 shares during the last quarter. Arizona State Retirement System bought a new position in Vertex in the second quarter valued at about $125,000. Versor Investments LP bought a new position in Vertex in the second quarter valued at about $162,000. Bank of America Corp DE grew its position in Vertex by 33.8% in the first quarter. Bank of America Corp DE now owns 389,007 shares of the company’s stock valued at $5,968,000 after acquiring an additional 98,278 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in Vertex in the first quarter valued at about $556,000. Institutional investors own 19.79% of the company’s stock.

Analysts Set New Price Targets

VERX has been the subject of a number of research reports. Morgan Stanley dropped their target price on Vertex from $12.00 to $10.00 and set an “underweight” rating for the company in a report on Thursday, July 14th. Jefferies Financial Group dropped their target price on Vertex from $14.50 to $13.50 in a report on Monday, May 23rd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Vertex currently has an average rating of “Hold” and a consensus price target of $18.93.

About Vertex

(Get Rating)

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.

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Insider Buying and Selling by Quarter for Vertex (NASDAQ:VERX)

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