Vertex, Inc. (NASDAQ:VERX – Get Rating) General Counsel Bryan T.R. Rowland sold 81,729 shares of the business's stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $16.51, for a total value of $1,349,345.79. Following the transaction, the general counsel now directly owns 3,911 shares of the company's stock, valued at approximately $64,570.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Vertex Trading Down 0.9 %
VERX stock opened at $17.88 on Friday. Vertex, Inc. has a 1-year low of $9.44 and a 1-year high of $19.31. The firm has a market cap of $2.68 billion, a P/E ratio of -198.67, a P/E/G ratio of 14.05 and a beta of 0.51. The business's 50 day moving average is $14.29 and its 200-day moving average is $14.93. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.22.
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Wall Street Analyst Weigh In
VERX has been the subject of several research analyst reports. Bank of America raised Vertex from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $16.00 to $20.00 in a research report on Wednesday. Jefferies Financial Group cut Vertex from a "buy" rating to a "hold" rating and boosted their price objective for the stock from $13.50 to $15.00 in a research report on Thursday, January 5th. Morgan Stanley boosted their price objective on Vertex from $10.00 to $12.00 and gave the stock an "underweight" rating in a research report on Monday, December 19th. The Goldman Sachs Group boosted their price target on Vertex from $21.00 to $24.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Needham & Company LLC boosted their price target on Vertex from $19.00 to $25.00 and gave the company a "buy" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $20.11.
Institutional Investors Weigh In On Vertex
Large investors have recently modified their holdings of the stock. Altshuler Shaham Ltd bought a new stake in shares of Vertex in the 3rd quarter valued at approximately $27,000. Great West Life Assurance Co. Can bought a new stake in Vertex during the 3rd quarter worth approximately $27,000. Ensign Peak Advisors Inc bought a new stake in Vertex during the 1st quarter worth approximately $33,000. Deutsche Bank AG bought a new stake in Vertex during the 4th quarter worth approximately $41,000. Finally, Lazard Asset Management LLC bought a new stake in Vertex during the 4th quarter worth approximately $46,000. 21.53% of the stock is currently owned by institutional investors.
Vertex Company Profile
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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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