Vertex, Inc. (NASDAQ:VERX) Shares Bought by Truist Financial Corp

Truist Financial Corp grew its stake in shares of Vertex, Inc. (NASDAQ:VERX – Get Rating) by 1.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 90,796 shares of the company’s stock after purchasing an additional 955 shares during the quarter. Truist Financial Corp’s holdings in Vertex were worth $1,241,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ensign Peak Advisors Inc acquired a new stake in Vertex during the first quarter worth approximately $33,000. Captrust Financial Advisors raised its holdings in Vertex by 4,560.0% during the second quarter. Captrust Financial Advisors now owns 4,660 shares of the company’s stock worth $53,000 after purchasing an additional 4,560 shares in the last quarter. US Bancorp DE raised its holdings in Vertex by 547.0% during the first quarter. US Bancorp DE now owns 6,910 shares of the company’s stock worth $106,000 after purchasing an additional 5,842 shares in the last quarter. Ergoteles LLC acquired a new stake in Vertex during the first quarter worth approximately $153,000. Finally, Legal & General Group Plc raised its holdings in Vertex by 52.3% during the second quarter. Legal & General Group Plc now owns 10,337 shares of the company’s stock worth $117,000 after purchasing an additional 3,551 shares in the last quarter. Institutional investors and hedge funds own 21.53% of the company’s stock.

Analyst Upgrades and Downgrades

VERX has been the topic of a number of research reports. Citigroup raised their target price on shares of Vertex to $16.00 in a research report on Thursday, October 27th. Morgan Stanley raised their target price on shares of Vertex from $10.00 to $12.00 and gave the stock an “underweight” rating in a research report on Monday, December 19th. Jefferies Financial Group lowered shares of Vertex from a “buy” rating to a “hold” rating and raised their target price for the stock from $13.50 to $15.00 in a research report on Thursday, January 5th. The Goldman Sachs Group initiated coverage on shares of Vertex in a research report on Friday, October 21st. They set a “buy” rating and a $20.00 target price on the stock. Finally, TheStreet lowered shares of Vertex from a “c-” rating to a “d+” rating in a research report on Wednesday, December 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Vertex has an average rating of “Hold” and a consensus price target of $17.86.

Vertex Stock Performance

NASDAQ:VERX opened at $12.00 on Friday. The firm’s fifty day moving average price is $15.00 and its 200 day moving average price is $14.19. Vertex, Inc. has a 1-year low of $9.44 and a 1-year high of $19.30. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of -240.00, a price-to-earnings-growth ratio of 9.03 and a beta of 0.63.

Vertex (NASDAQ:VERX – Get Rating) last posted its quarterly earnings data on Wednesday, November 9th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.05). The firm had revenue of $126.24 million during the quarter, compared to analysts’ expectations of $122.44 million. Vertex had a negative net margin of 1.61% and a positive return on equity of 13.30%. On average, sell-side analysts expect that Vertex, Inc. will post 0.19 EPS for the current year.

Insiders Place Their Bets

In other Vertex news, major shareholder Jeffery Westphal sold 1,500,000 shares of the business’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $15.15, for a total transaction of $22,725,000.00. Following the sale, the insider now directly owns 9,050,000 shares in the company, valued at approximately $137,107,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Vertex news, Director Kevin L. Robert sold 11,843 shares of the business’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $15.50, for a total transaction of $183,566.50. Following the sale, the director now directly owns 31,510 shares in the company, valued at approximately $488,405. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Jeffery Westphal sold 1,500,000 shares of the business’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $15.15, for a total transaction of $22,725,000.00. Following the sale, the insider now owns 9,050,000 shares in the company, valued at $137,107,500. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,530,563 shares of company stock worth $23,209,841. Corporate insiders own 46.12% of the company’s stock.

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.