Vertex, Inc. (NASDAQ:VERX) Major Shareholder Jeffrey Westphal Sells 2,485,000 Shares of Stock

Vertex, Inc. (NASDAQ:VERX) major shareholder Jeffrey Westphal sold 2,485,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $48.90, for a total value of $121,516,500.00. Following the completion of the transaction, the insider now directly owns 7,895 shares in the company, valued at approximately $386,065.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Jeffrey Westphal also recently made the following trade(s):

• On Thursday, October 3rd, Jeffrey Westphal sold 1,225,000 shares of Vertex stock. The shares were sold at an average price of $39.42, for a total value of $48,289,500.00.

Vertex Stock Performance

Shares of Vertex stock opened at $50.58 on Thursday. The firm has a market capitalization of $7.87 billion, a P/E ratio of 281.00, a price-to-earnings-growth ratio of 9.34 and a beta of 0.67. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29. The business’s fifty day simple moving average is $40.91 and its 200 day simple moving average is $37.09. Vertex, Inc. has a 12 month low of $23.31 and a 12 month high of $52.93.

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

Institutional Investors Weigh In On Vertex

Several large investors have recently modified their holdings of the stock. Blue Trust Inc. bought a new stake in Vertex during the 2nd quarter valued at $28,000. Advisors Asset Management Inc. grew its position in Vertex by 126.2% in the third quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock worth $37,000 after acquiring an additional 540 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Vertex during the 2nd quarter valued at about $37,000. Canada Pension Plan Investment Board purchased a new position in Vertex in the 2nd quarter worth $40,000. Finally, Amalgamated Bank purchased a new position in Vertex in the 2nd quarter worth approximately $68,000. Hedge funds and other institutional investors own 59.10% of the company’s stock.

Analyst Ratings Changes

VERX has been the topic of a number of research reports. Baird R W upgraded Vertex to a “strong-buy” rating in a report on Tuesday, July 23rd. Stifel Nicolaus lifted their price objective on shares of Vertex from $41.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Morgan Stanley upped their target price on shares of Vertex from $50.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday. Robert W. Baird boosted their price objective on Vertex from $43.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, JMP Securities raised their target price on Vertex from $47.00 to $61.00 and gave the company a “market outperform” rating in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.30.

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.