Vertex, Inc. (NASDAQ:VERX) Insider Sells $551,498.37 in Stock

Vertex, Inc. (NASDAQ:VERX – Get Rating) insider Item Second Irr. Trust Fbo Ann sold 30,153 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $18.29, for a total transaction of $551,498.37. Following the completion of the transaction, the insider now directly owns 324,266 shares of the company’s stock, valued at approximately $5,930,825.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Item Second Irr. Trust Fbo Ann also recently made the following trade(s):

• On Wednesday, March 15th, Item Second Irr. Trust Fbo Ann sold 27,417 shares of Vertex stock. The shares were sold at an average price of $18.42, for a total transaction of $505,021.14.
• On Monday, March 13th, Item Second Irr. Trust Fbo Ann sold 17,376 shares of Vertex stock. The shares were sold at an average price of $18.21, for a total transaction of $316,416.96.
• On Friday, March 10th, Item Second Irr. Trust Fbo Ann sold 2,938 shares of Vertex stock. The stock was sold at an average price of $18.07, for a total transaction of $53,089.66.

Vertex Stock Performance

Shares of Vertex stock opened at $18.48 on Friday. The firm’s fifty day simple moving average is $14.75 and its 200-day simple moving average is $15.11. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of -205.33, a PEG ratio of 14.30 and a beta of 0.51. Vertex, Inc. has a 12 month low of $9.44 and a 12 month high of $19.31. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.60 and a quick ratio of 0.59.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Vertex from $10.00 to $12.00 and gave the stock an “underweight” rating in a research note on Monday, December 19th. TheStreet downgraded shares of Vertex from a “c-” rating to a “d+” rating in a research note on Wednesday, December 28th. Needham & Company LLC lifted their price target on shares of Vertex from $19.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, March 9th. Jefferies Financial Group downgraded shares of Vertex from a “buy” rating to a “hold” rating and lifted their price target for the stock from $13.50 to $15.00 in a research note on Thursday, January 5th. Finally, Raymond James lifted their price target on shares of Vertex from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, March 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $20.11.

Hedge Funds Weigh In On Vertex

Institutional investors have recently modified their holdings of the business. Altshuler Shaham Ltd acquired a new position in shares of Vertex in the 3rd quarter valued at $27,000. Great West Life Assurance Co. Can acquired a new position in shares of Vertex in the 3rd quarter valued at $27,000. Ensign Peak Advisors Inc acquired a new position in shares of Vertex in the 1st quarter valued at $33,000. Deutsche Bank AG acquired a new position in shares of Vertex in the 4th quarter valued at $41,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Vertex in the 4th quarter valued at $46,000. 21.53% of the stock is owned by institutional investors and hedge funds.

About Vertex

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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.