Vertex, Inc. (NASDAQ:VERX) Major Shareholder Item Second Irr. Trust Fbo Kyl Sells 53,843 Shares of Stock

Vertex, Inc. (NASDAQ:VERX) major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $56.48, for a total value of $3,041,052.64. Following the completion of the transaction, the insider now owns 1,229,257 shares in the company, valued at approximately $69,428,435.36. This trade represents a 4.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Monday, December 9th, Item Second Irr. Trust Fbo Kyl sold 13,346 shares of Vertex stock. The stock was sold at an average price of $55.13, for a total transaction of $735,764.98.
• On Wednesday, November 20th, Item Second Irr. Trust Fbo Kyl sold 40,966 shares of Vertex stock. The shares were sold at an average price of $52.16, for a total transaction of $2,136,786.56.

Vertex Trading Up 0.7 %

VERX opened at $57.00 on Friday. Vertex, Inc. has a 12-month low of $24.17 and a 12-month high of $58.22. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $8.89 billion, a PE ratio of 316.67, a P/E/G ratio of 8.30 and a beta of 0.77. The firm’s fifty day moving average price is $53.74 and its 200 day moving average price is $44.26.

Vertex (NASDAQ:VERX) last issued its earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The business had revenue of $170.40 million for the quarter, compared to analyst estimates of $165.70 million. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.06 EPS. As a group, research analysts expect that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in shares of Vertex by 11.4% in the 4th quarter. Blue Trust Inc. now owns 2,516 shares of the company’s stock valued at $134,000 after acquiring an additional 257 shares during the last quarter. Sheets Smith Wealth Management boosted its holdings in Vertex by 2.2% in the fourth quarter. Sheets Smith Wealth Management now owns 15,099 shares of the company’s stock worth $806,000 after purchasing an additional 324 shares during the period. Verdence Capital Advisors LLC boosted its holdings in Vertex by 6.1% in the third quarter. Verdence Capital Advisors LLC now owns 8,313 shares of the company’s stock worth $320,000 after purchasing an additional 477 shares during the period. Advisors Asset Management Inc. increased its stake in Vertex by 126.2% during the third quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock valued at $37,000 after purchasing an additional 540 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Vertex by 27.1% during the fourth quarter. KBC Group NV now owns 2,668 shares of the company’s stock worth $142,000 after purchasing an additional 569 shares during the period. Institutional investors own 70.32% of the company’s stock.

Analysts Set New Price Targets

VERX has been the topic of a number of research reports. JMP Securities reissued a “market outperform” rating and issued a $61.00 target price on shares of Vertex in a research note on Monday, December 9th. Raymond James reissued a “market perform” rating on shares of Vertex in a research report on Friday, January 3rd. Jefferies Financial Group raised Vertex from a “hold” rating to a “buy” rating and upped their target price for the stock from $35.00 to $50.00 in a research report on Monday, November 4th. The Goldman Sachs Group raised their target price on Vertex from $42.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Stifel Nicolaus boosted their price target on Vertex from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.36.

About Vertex

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.