Transaction tax

David Destefano sells 17,671 shares of Vertex, Inc. (NASDAQ: VERX)

Vertex, Inc. (NASDAQ: VERX – Get a rating) CEO David Destefano sold 17,671 shares of the company in a trade dated Monday, October 10. The stock was sold at an average price of $14.56, for a total transaction of $257,289.76. Following completion of the transaction, the CEO now owns 316,102 shares of the company, valued at $4,602,445.12. The sale was disclosed in a filing with the SEC, which is available via this link.

David Destefano also recently made the following trade(s):

  • On Friday, September 30, David Destefano sold 28,900 Vertex shares. The stock was sold at an average price of $13.94, for a total transaction of $402,866.00.
  • On Wednesday, September 28, David Destefano sold 36,419 Vertex shares. The stock was sold at an average price of $13.59, for a total transaction of $494,934.21.
  • On Monday, September 19, David Destefano sold 26,340 Vertex shares. The stock was sold at an average price of $13.73, for a total transaction of $361,648.20.
  • On Thursday, September 15, David Destefano sold 47,275 Vertex shares. The stock was sold at an average price of $14.51, for a total transaction of $685,960.25.

Vertex shares down 2.1%

VERX traded down $0.31 during Tuesday’s trading, hitting $14.46. The stock recorded trading volume of 247,208 shares, compared to an average trading volume of 139,044 shares. The company has a market capitalization of $2.16 billion, a PE ratio of -205.11, a PEG ratio of 51.72 and a beta of 0.30. Vertex, Inc. has a 12-month low of $9.44 and a 12-month high of $22.28. The company has a debt ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61. The stock has a 50-day simple moving average of $13.68 and a 200-day simple moving average of $12.82.

Summit (NASDAQ:VERX – Get a rating) last announced its results on Tuesday, August 9. The company reported earnings per share of $0.04 for the quarter, beating the consensus estimate of $0.02 by $0.02. The company posted revenue of $119.28 million in the quarter, versus a consensus estimate of $116.79 million. Vertex had a negative net margin of 2.28% and a positive return on equity of 12.50%. Vertex revenue increased 13.7% compared to the same quarter last year. During the same period last year, the company made earnings per share of $0.05. On average, research analysts predict that Vertex, Inc. will post 0.17 earnings per share for the current year.

Changes to analyst ratings

A number of stock analysts have recently released reports on the stock. Morgan Stanley lowered its price target on shares of Vertex from $12.00 to $10.00 and set an “underweight” rating on the stock in a Thursday, July 14 research note. William Blair reiterated an “outperforming” rating on Vertex shares in a Tuesday, August 9 research note. Finally, Citigroup assumed coverage of Vertex shares in a Thursday, September 1, research note. They set a “neutral” rating and a price target of $15.00 on the stock. One financial analyst assigned the stock a sell rating, two assigned a hold rating and three assigned the company’s stock a buy rating. According to MarketBeat, Vertex currently has an average rating of “Hold” and an average price target of $16.75.

Institutional investors weigh in on Vertex

Several institutional investors have recently bought and sold shares of VERX. Ensign Peak Advisors Inc acquired a new stake in Vertex in the first quarter worth approximately $33,000. Hardy Reed LLC acquired a new stake in Vertex in the first quarter worth approximately $53,000. Captrust Financial Advisors increased its holdings of Vertex shares by 4,560.0% in the second quarter. Captrust Financial Advisors now owns 4,660 shares of the company worth $53,000 after purchasing an additional 4,560 shares in the last quarter. US Bancorp DE increased its holdings of Vertex shares by 547.0% in the first quarter. US Bancorp DE now owns 6,910 shares of the company worth $106,000 after buying an additional 5,842 shares in the last quarter. Finally, Legal & General Group Plc increased its equity stake in Vertex by 52.3% in the second quarter. Legal & General Group Plc now owns 10,337 shares in the company worth $117,000 after buying 3,551 additional shares in the last quarter. 20.97% of the shares are currently held by institutional investors and hedge funds.

Vertex Company Profile

(Get a rating)

Vertex, Inc provides tax technology solutions to companies in the retail, communications, rental, and manufacturing industries in the United States and around the world. It offers tax determination, compliance and reporting, tax data management, document management, prebuilt integration, and industry-specific solutions.

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Insider buying and selling by quarter for Vertex (NASDAQ:VERX)

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