Vertex, Inc. (NASDAQ:VERX) CEO David Destefano Sells 47,275 Shares of Stock

Vertex, Inc. (NASDAQ:VERXGet Rating) CEO David Destefano sold 47,275 shares of the firm’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $14.51, for a total value of $685,960.25. Following the sale, the chief executive officer now owns 520,305 shares in the company, valued at $7,549,625.55. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

David Destefano also recently made the following trade(s):

  • On Monday, September 19th, David Destefano sold 26,340 shares of Vertex stock. The shares were sold at an average price of $13.73, for a total transaction of $361,648.20.

Vertex Price Performance

NASDAQ:VERX opened at $13.71 on Tuesday. Vertex, Inc. has a 52-week low of $9.44 and a 52-week high of $22.28. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. The firm has a market cap of $2.04 billion, a P/E ratio of -195.83, a PEG ratio of 48.95 and a beta of 0.37. The business’s 50-day moving average price is $12.67 and its 200 day moving average price is $12.80.

Vertex (NASDAQ:VERXGet Rating) last released its earnings results on Tuesday, August 9th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.02 by $0.02. The business had revenue of $119.28 million during the quarter, compared to analyst estimates of $116.79 million. Vertex had a negative net margin of 2.28% and a positive return on equity of 12.50%. The business’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 earnings per share. As a group, sell-side analysts predict that Vertex, Inc. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on VERX shares. Jefferies Financial Group dropped their price target on shares of Vertex from $14.50 to $13.50 in a research note on Monday, May 23rd. William Blair restated an “outperform” rating on shares of Vertex in a research note on Tuesday, August 9th. Morgan Stanley dropped their price objective on Vertex from $12.00 to $10.00 and set an “underweight” rating on the stock in a report on Thursday, July 14th. Finally, Citigroup began coverage on Vertex in a report on Thursday, September 1st. They issued a “neutral” rating and a $15.00 price target on the stock. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $17.21.

Institutional Trading of Vertex

Institutional investors and hedge funds have recently bought and sold shares of the stock. Washington Harbour Partners LP purchased a new position in shares of Vertex in the fourth quarter worth approximately $4,311,000. Palisade Capital Management LLC NJ lifted its stake in Vertex by 47.7% in the 1st quarter. Palisade Capital Management LLC NJ now owns 780,038 shares of the company’s stock worth $11,966,000 after acquiring an additional 251,756 shares in the last quarter. Virginia Retirement Systems ET AL boosted its position in Vertex by 76.9% during the 1st quarter. Virginia Retirement Systems ET AL now owns 23,000 shares of the company’s stock worth $353,000 after acquiring an additional 10,000 shares during the period. New York State Common Retirement Fund grew its stake in Vertex by 57.9% during the 1st quarter. New York State Common Retirement Fund now owns 197,171 shares of the company’s stock valued at $3,025,000 after acquiring an additional 72,271 shares in the last quarter. Finally, William Blair Investment Management LLC increased its holdings in shares of Vertex by 2.2% in the 1st quarter. William Blair Investment Management LLC now owns 875,051 shares of the company’s stock valued at $13,423,000 after purchasing an additional 18,908 shares during the period. Institutional investors and hedge funds own 20.97% of the company’s stock.

Vertex Company Profile

(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.

See Also

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

Receive News & Ratings for Vertex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex and related companies with MarketBeat.com's FREE daily email newsletter.