Jeffery Westphal Sells 23,884 Shares of Vertex, Inc. (NASDAQ:VERX) Stock

Vertex, Inc. (NASDAQ:VERX – Get Rating) major shareholder Jeffery Westphal sold 23,884 shares of the company’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $18.67, for a total value of $445,914.28. Following the transaction, the insider now directly owns 8,794,868 shares of the company’s stock, valued at $164,200,185.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 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 stock was sold at an average price of $17.75, for a total value of $24,409,161.00.
• On Wednesday, March 8th, Jeffery Westphal sold 62,857 shares of Vertex stock. The stock was sold at an average price of $18.63, for a total value of $1,171,025.91.
• On Thursday, March 2nd, Jeffery Westphal sold 50,000 shares of Vertex stock. The stock was sold at an average price of $15.66, for a total value of $783,000.00.
• On Tuesday, February 28th, Jeffery Westphal sold 44,391 shares of Vertex stock. The stock was sold at an average price of $15.82, for a total value of $702,265.62.

Vertex Stock Performance

VERX opened at $18.48 on Friday. Vertex, Inc. has a 12-month low of $9.44 and a 12-month high of $19.31. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of -205.33, a PEG ratio of 14.24 and a beta of 0.51. The business has a 50 day moving average of $14.75 and a 200-day moving average of $15.10. The company has a quick ratio of 0.59, a current ratio of 0.60 and a debt-to-equity ratio of 0.20.

Analyst Ratings Changes

VERX has been the subject of several recent research reports. BMO Capital Markets upped their price objective on Vertex from $16.00 to $19.00 and gave the stock a “market perform” rating in a research report on Thursday, March 9th. Needham & Company LLC increased their price target on Vertex from $19.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, March 9th. Jefferies Financial Group cut Vertex from a “buy” rating to a “hold” rating and increased their price target for the company from $13.50 to $15.00 in a research report on Thursday, January 5th. Morgan Stanley increased their price target on Vertex from $10.00 to $12.00 and gave the company an “underweight” rating in a research report on Monday, December 19th. Finally, Raymond James increased their price target on Vertex from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, March 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.11.

Institutional Trading of Vertex

A number of hedge funds have recently made changes to their positions in the business. State of Wyoming acquired a new stake in shares of Vertex in the fourth quarter valued at approximately $49,000. Lazard Asset Management LLC bought a new position in shares of Vertex during the fourth quarter worth approximately $46,000. Laurion Capital Management LP bought a new position in shares of Vertex during the fourth quarter worth approximately $1,088,000. Legal & General Group Plc increased its stake in shares of Vertex by 14.3% during the fourth 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 period. Finally, Norges Bank bought a new position in shares of Vertex during the fourth quarter worth approximately $590,000. 21.53% of the stock is owned by institutional investors and hedge funds.

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.