In a filing, Vertex Inc revealed its 13(D) GROUP MEMBER ITEM SECOND IRR. TRUST FBO JAC unloaded Company’s shares for reported $2.3 million on Oct 14 ’24. In the deal valued at $40.77 per share,56,419 shares were sold. As a result of this transaction, ITEM SECOND IRR. TRUST FBO JAC now holds 932,706 shares worth roughly $39.39 million.
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Then, ITEM SECOND IRR. TRUST FBO JAC sold 46,098 shares, generating $1,865,821 in total proceeds. Upon selling the shares at $40.48, the 13(D) GROUP MEMBER now owns 989,125 shares.
Before that, ITEM SECOND IRR. TRUST FBO JAC sold 32,629 shares. Vertex Inc shares valued at $1,296,318 were divested by the 13(D) GROUP MEMBER at a price of $39.73 per share. As a result of the transaction, ITEM SECOND IRR. TRUST FBO JAC now holds 1,035,223 shares, worth roughly $43.72 million.
Jefferies upgraded its Vertex Inc [VERX] rating to a Buy from a a Hold in a research note published on November 04, 2024; the price target was increased to $50 from $35. A number of analysts have revised their coverage, including Robert W. Baird’s analysts, who began to cover the stock in late July with a ‘”an Outperform”‘ rating. BofA Securities also remained covering VERX and has increased its forecast on March 01, 2024 with a “Neutral” recommendation from previously “an Underperform” rating.
Price Performance Review of VERX
On Monday, Vertex Inc [NASDAQ:VERX] saw its stock jump 0.14% to $42.23. Over the last five days, the stock has lost -0.54%. Vertex Inc shares have risen nearly 56.76% since the year began. Nevertheless, the stocks have risen 81.56% over the past one year. While a 52-week high of $43.33 was reached on 11/04/24, a 52-week low of $21.92 was recorded on 01/12/24. SMA at 50 days reached $39.24, while 200 days put it at $33.73.
Levels Of Support And Resistance For VERX Stock
The 24-hour chart illustrates a support level at 41.59, which if violated will result in even more drops to 40.96. On the upside, there is a resistance level at 43.31. A further resistance level may holdings at 44.39. The Relative Strength Index (RSI) on the 14-day chart is 58.29, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.40, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 53.33%. Stochastics %K at 47.25% indicates the stock is a holding.
How much short interest is there in Vertex Inc?
A steep rise in short interest was recorded in Vertex Inc stocks on 2024-10-15, dropping by -0.22 million shares to a total of 6.11 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 6.33 million shares. There was a decline of -3.58%, which implies that there is a negative sentiment for the stock.
