Vertex, Inc. (NASDAQ:VERX – Get Rating) CAO Lisa Butler sold 34,968 shares of the stock in a transaction on Monday, June 13th. The stock was sold at an average price of $9.68, for a total transaction of $338,490.24. Following the sale, the chief accounting officer now directly owns 41,314 shares in the company, valued at $399,919.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Vertex stock traded up $0.40 during midday trading on Wednesday, hitting $10.32. 167,695 shares of the stock were exchanged, compared to its average volume of 133,303. Vertex, Inc. has a fifty-two week low of $9.44 and a fifty-two week high of $22.88. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -503.50, a PEG ratio of 36.48 and a beta of 0.85. The stock’s 50-day simple moving average is $12.86 and its 200 day simple moving average is $14.23. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21.
Vertex (NASDAQ:VERX – Get Rating) last announced its earnings results on Tuesday, May 10th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. The company had revenue of $115.00 million during the quarter, compared to analyst estimates of $113.03 million. Vertex had a negative net margin of 0.93% and a positive return on equity of 12.70%. Vertex’s revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.04 earnings per share. Equities analysts anticipate that Vertex, Inc. will post 0.12 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in VERX. Morgan Stanley boosted its stake in Vertex by 1,697.7% during the second quarter. Morgan Stanley now owns 173,636 shares of the company’s stock worth $3,810,000 after buying an additional 163,977 shares during the period. BlackRock Inc. boosted its stake in Vertex by 0.9% during the third quarter. BlackRock Inc. now owns 450,963 shares of the company’s stock worth $8,667,000 after buying an additional 3,910 shares during the period. Goldman Sachs Group Inc. boosted its stake in Vertex by 194.0% during the third quarter. Goldman Sachs Group Inc. now owns 70,365 shares of the company’s stock worth $1,353,000 after buying an additional 46,430 shares during the period. Geode Capital Management LLC boosted its stake in Vertex by 8.2% during the third quarter. Geode Capital Management LLC now owns 253,048 shares of the company’s stock worth $4,863,000 after buying an additional 19,169 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Vertex during the third quarter worth about $605,000. 19.79% of the stock is owned by institutional investors.
A number of research firms have weighed in on VERX. Needham & Company LLC reduced their price objective on shares of Vertex from $30.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, March 10th. JMP Securities reduced their target price on shares of Vertex from $36.00 to $28.00 and set a “market outperform” rating for the company in a research report on Thursday, March 10th. Finally, Jefferies Financial Group reduced their target price on shares of Vertex from $14.50 to $13.50 in a research report on Monday, May 23rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Vertex currently has a consensus rating of “Buy” and an average target price of $20.42.
Vertex Company Profile (Get Rating)
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.