Vertex, Inc. (NASDAQ:VERX) Major Shareholder Sells $11,680,000.00 in Stock

Vertex, Inc. (NASDAQ:VERX) major shareholder Jeffery Westphal sold 800,000 shares of the business’s stock in a transaction on Tuesday, January 11th. The stock was sold at an average price of $14.60, for a total value of $11,680,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Shares of VERX opened at $14.01 on Friday. The stock’s fifty day simple moving average is $17.91 and its 200-day simple moving average is $18.93. The firm has a market capitalization of $2.08 billion, a PE ratio of -1,401.00 and a beta of 0.81. Vertex, Inc. has a 12-month low of $13.28 and a 12-month high of $39.71.

Vertex (NASDAQ:VERX) last released its quarterly earnings data on Wednesday, November 10th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $110.72 million during the quarter, compared to the consensus estimate of $104.92 million. Vertex had a positive return on equity of 12.37% and a negative net margin of 0.15%. During the same quarter in the prior year, the company posted ($0.31) earnings per share. As a group, equities analysts predict that Vertex, Inc. will post 0.18 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VERX. UBS Group AG increased its holdings in Vertex by 469.9% in the third quarter. UBS Group AG now owns 2,724 shares of the company’s stock valued at $52,000 after purchasing an additional 2,246 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Vertex in the third quarter valued at about $207,000. Cresset Asset Management LLC bought a new stake in shares of Vertex in the second quarter worth about $219,000. LPL Financial LLC bought a new stake in shares of Vertex in the third quarter worth about $224,000. Finally, Advisor Group Holdings Inc. increased its holdings in shares of Vertex by 13.2% in the second quarter. Advisor Group Holdings Inc. now owns 10,284 shares of the company’s stock worth $226,000 after acquiring an additional 1,202 shares in the last quarter. Institutional investors and hedge funds own 17.10% of the company’s stock.

A number of equities analysts have commented on VERX shares. Zacks Investment Research lowered Vertex from a “buy” rating to a “hold” rating in a research note on Saturday, November 20th. Bank of America lowered Vertex from a “neutral” rating to an “underperform” rating and cut their price target for the company from $24.00 to $20.00 in a research note on Monday, October 4th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $23.00.

Vertex Company Profile

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.

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