Investors following Vertex (NASDAQ:VRTX) Inc. (NASDAQ:VERX) may be interested to learn of a recent transaction involving a significant sale of company stock. The ITEM SECOND Irrevocable Trust FBO Anne Marie Westphal, associated with Jeffrey R. Westphal, has sold a total of 27,128 shares of Class A Common Stock on March 26, 2024. This sale amounted to over $820,000, with the shares sold at a weighted average price of $30.271.
The transactions were executed in multiple parts, with prices ranging from $30.05 to $30.53. Following the sale, the trust's holdings in Vertex Inc. amount to 965,073.706 shares of Class A Common Stock. It's noteworthy that this trust is a significant shareholder, being a ten percent owner and part of the 13(D) group.
These details provide transparency into the trading activities of major shareholders and can be pertinent information for current and prospective investors. Vertex Inc., headquartered in King of Prussia, PA, specializes in prepackaged software solutions and is recognized for its contributions to the technology sector.
InvestingPro Insights
Investors keeping an eye on Vertex Inc. (NASDAQ:VERX) have witnessed a noteworthy transaction from a significant shareholder. To further understand the potential impact of this sale on the company's future, let's consider some current metrics from InvestingPro and a couple of InvestingPro Tips that could provide additional context.
InvestingPro Data shows that Vertex Inc. has a market capitalization of $4.9 billion, with a substantial Price / Book ratio of 18.7 as of the last twelve months leading up to Q4 2023. Despite a negative P/E ratio in the same period, indicating a lack of profitability, the company has experienced solid revenue growth of 16.43% and a gross profit margin of 60.9%.
The stock has indeed shown strong performance in the market, with a 1 Month Price Total Return of 25.04% and an impressive 1 Year Price Total Return of 65.5%. This robust market performance aligns with one of the InvestingPro Tips, which notes a significant return over the last week as well as strong returns over the last month and three months.
Moreover, the InvestingPro Tips highlight that analysts have revised their earnings upwards for the upcoming period and predict that the company will be profitable this year. This optimism from analysts could be a driving factor behind the stock's recent gains and might signal confidence in the company's future performance.
For investors interested in a deeper dive into Vertex Inc.'s financial health and future prospects, InvestingPro offers additional insights. There are 14 more InvestingPro Tips available, which provide a comprehensive analysis of the company's financials, market performance, and valuation metrics. To explore these tips and enhance your investment strategy, visit https://www.investing.com/pro/VERX and don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.