The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Vertex Inc shares valued at $23,773,547 were sold by Westphal Jeffrey on Apr 05 ’24. At $30.05 per share, Westphal Jeffrey sold 791,133 shares. The insider’s holdings dropped to 1,554,641 shares worth approximately $45.72 million following the completion of this transaction.
Also, 2020 IRREVOCABLE TRUST FOR BEN sold 30,692 shares, netting a total of over 927,543 in proceeds. Following the sale of shares at $30.22 each, the insider now holds 0 shares.
Before that, 2020 IRREVOCABLE TRUST FOR BEN had sold 50,669 shares from its account. In a trade valued at $1,531,927, the 13(D) GROUP MEMBER traded Vertex Inc shares for $30.23 each. Upon closing the transaction, the insider’s holdings decreased to 50,669 shares, worth approximately $0.9 million.
As published in a research note from BofA Securities on March 01, 2024, Vertex Inc [VERX] has been rated up from an Underperform to a Neutral and the price target has been revised to $40. As of March 09, 2023, BofA Securities has increased its “an Underperform” rating to a “Neutral” for VERX. Earlier on February 09, 2023, Raymond James initiated its rating. Their recommendation was “an Outperform” for VERX stock.
Analyzing VERX Stock Performance
During the last five days, there has been a surge of approximately 1.24%. Over the course of the year, Vertex Inc shares have jumped approximately 9.17%. Shares of the company reached a 52-week high of $35.38 on 03/01/24 and a 52-week low of $23.31 on 01/12/24. A 50-day SMA is recorded $29.44, while a 200-day SMA reached $25.15. Nevertheless, trading volume fell to 1.17 million shares from 4.45 million shares the previous day.
Support And Resistance Levels for Vertex Inc (VERX)
According to the 24-hour chart, there is a support level at 28.51, which, if violated, would cause prices to drop to 27.61. In the upper region, resistance lies at 29.88. The next price resistance is at 30.36. RSI (Relative Strength Index) is 46.92 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.48, which suggests the price will decrease in the coming days. Percent R is at 61.53%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
