Vertex, Inc. (NASDAQ:VERX) CFO Sells $895,250.00 in Stock

Vertex, Inc. (NASDAQ:VERX) CFO John R. Schwab sold 25,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $35.81, for a total transaction of $895,250.00. Following the completion of the sale, the chief financial officer now directly owns 53,104 shares of the company’s stock, valued at $1,901,654.24. The transaction was disclosed in a filing with the SEC, which is available at this link.

Vertex Stock Performance

NASDAQ VERX opened at $37.58 on Tuesday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.17 and a current ratio of 1.17. The business’s 50 day moving average price is $36.54 and its 200-day moving average price is $32.62. The company has a market cap of $5.84 billion, a P/E ratio of 939.50, a P/E/G ratio of 10.24 and a beta of 0.69. Vertex, Inc. has a fifty-two week low of $20.48 and a fifty-two week high of $40.05.

Vertex (NASDAQ:VERX) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.02. Vertex had a net margin of 3.20% and a return on equity of 22.32%. The business had revenue of $161.10 million during the quarter, compared to the consensus estimate of $160.66 million. During the same quarter last year, the firm earned $0.04 earnings per share. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. Sell-side analysts predict that Vertex, Inc. will post 0.34 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on VERX shares. JMP Securities boosted their price objective on Vertex from $42.00 to $47.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 31st. Robert W. Baird initiated coverage on shares of Vertex in a report on Tuesday, July 23rd. They set an “outperform” rating and a $43.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 target price on shares of Vertex in a report on Thursday, June 13th. Citigroup boosted their target price on Vertex from $32.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Finally, Baird R W raised Vertex to a “strong-buy” rating in a research note on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $37.30.

Hedge Funds Weigh In On Vertex

Large investors have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. boosted its stake in shares of Vertex by 1.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 51,624 shares of the company’s stock valued at $1,640,000 after purchasing an additional 589 shares during the period. Blue Trust Inc. purchased a new stake in Vertex in the 2nd quarter valued at about $28,000. Ellsworth Advisors LLC increased its position in shares of Vertex by 6.6% during the second quarter. Ellsworth Advisors LLC now owns 16,010 shares of the company’s stock worth $577,000 after acquiring an additional 992 shares during the period. Quest Partners LLC purchased a new position in shares of Vertex during the second quarter worth approximately $37,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Vertex during the second quarter valued at approximately $40,000. Hedge funds and other institutional investors own 59.10% of the company’s stock.

Vertex Company Profile

Vertex, Inc, together with its subsidiaries, provides enterprise tax technology solutions for retail trade, wholesale trade, and manufacturing industries in the United States and internationally. The company offers tax determination; compliance and reporting, including workflow management tools, role-based security, and event logging; tax data management; document management; analytics and insights; pre-built integration that includes mapping data fields, and business logic and configurations; industry-specific solutions; and technology specific solutions, such as chain flow accelerator and SAP-specific tools.