Stocks
VERX

Vertex, Inc. Recognized as Leader in Multiple IDC MarketScape Reports for Tax Technology Solutions

December 16, 2024 — 10:50 am EST

Written by None for Quiver Quantitative->

Vertex, Inc. has been named a Leader in three IDC MarketScape reports for tax automation software, highlighting its industry expertise and growth.

Quiver AI Summary

Vertex, Inc., a leading provider of tax technology solutions, has been recognized as a Leader in three recent IDC MarketScape reports assessing SaaS and cloud-enabled tax automation software for various market segments. CEO David DeStefano highlighted the significance of this recognition, emphasizing the company's mission to empower businesses through innovative tax technology that simplifies compliance amid complex tax regulations. With a strong commitment to supporting global businesses, Vertex continues to enhance its tax solutions to meet the evolving needs of the market, backed by decades of experience. The IDC MarketScape evaluations provide a comprehensive overview of technology suppliers, helping businesses identify strengths and weaknesses in vendors.

Potential Positives

  • Vertex has been recognized as a Leader in three key IDC MarketScape reports for 2024, highlighting its strong position in the tax technology sector.
  • This recognition validates Vertex's mission to empower businesses with leading tax technology, reinforcing its reputation in the industry.
  • The company continues to expand its portfolio and capabilities, demonstrating its commitment to simplify compliance in a complex tax environment.
  • Vertex's recognition aligns with its ongoing investments in intelligent, automated tax management tools essential for businesses facing global tax complexities.

Potential Negatives

  • The press release includes a cautionary statement about forward-looking statements, indicating potential uncertainty about the company’s future performance and aspirations.
  • While Vertex highlights its various recognitions, there is no mention or evidence of recent financial performance improvements, which could raise questions about the sustainability of its market position.

FAQ

What recognition has Vertex, Inc. recently received?

Vertex has been named a Leader in three recent IDC MarketScape reports for SaaS and Cloud-Enabled Tax Automation Software.

Which areas of tax technology did Vertex excel in according to IDC?

Vertex excelled in Sales and Use Tax Automation Software and Value-Added Tax Management Applications for both Enterprise and Small/Midmarket categories.

How does Vertex support businesses in tax compliance?

Vertex provides intelligent, automated tax management tools designed to streamline compliance and optimize tax processes for a dynamic global economy.

Who commented on Vertex's success in the IDC MarketScape reports?

David DeStefano, CEO of Vertex, expressed gratitude for the recognition and emphasized the company's commitment to empowering businesses.

What industries does Vertex cater to with its tax solutions?

Vertex offers tailored solutions for major lines of indirect tax, including sales and consumer use, value added, and payroll across various industries.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.


$VERX Insider Trading Activity

$VERX insiders have traded $VERX stock on the open market 44 times in the past 6 months. Of those trades, 0 have been purchases and 44 have been sales.

Here’s a breakdown of recent trading of $VERX stock by insiders over the last 6 months:

  • DAVID DESTEFANO (PRESIDENT & CEO) has traded it 9 times. They made 0 purchases and 9 sales, selling 622,758 shares.
  • SECOND IRR. TRUST FBO KYLE R. WESTPHAL U/A OF JEFFREY R. WESTPHAL DATED OCTOBER 5, 2001 ITEM has traded it 5 times. They made 0 purchases and 5 sales, selling 305,900 shares.
  • JOHN RICHARD STAMM has traded it 5 times. They made 0 purchases and 5 sales, selling 32,315 shares.
  • BRYAN T.R. ROWLAND (GENERAL COUNSEL) has traded it 3 times. They made 0 purchases and 3 sales, selling 41,196 shares.
  • JEFFREY WESTPHAL has traded it 3 times. They made 0 purchases and 3 sales, selling 5,210,000 shares.
  • SECOND IRR. TRUST FBO JACOB J. WESTPHAL U/A OF JEFFREY R. WESTPHAL DATED OCTOBER 5, 2001 ITEM has traded it 9 times. They made 0 purchases and 9 sales, selling 415,000 shares.
  • SECOND IRR. TRUST FBO ANNE MARIE WESTPHAL U/A OF JEFFREY R. WESTPHAL DATED OCTOBER 5, 2001 ITEM has traded it 7 times. They made 0 purchases and 7 sales, selling 350,000 shares.
  • JOHN R SCHWAB (CHIEF FINANCIAL OFFICER) sold 25,000 shares.
  • ERIC C. ANDERSEN has traded it 2 times. They made 0 purchases and 2 sales, selling 140,000 shares.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$VERX Hedge Fund Activity

We have seen 127 institutional investors add shares of $VERX stock to their portfolio, and 115 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Full Release



KING OF PRUSSIA, Pa., Dec. 16, 2024 (GLOBE NEWSWIRE) --

Vertex, Inc.

(NASDAQ:VERX) (“Vertex” or the “Company”), a global provider of tax technology solutions, has been named a Leader in three IDC MarketScape reports:




“We are honored to be named a Leader in multiple segments of the IDC MarketScape for SaaS and Cloud-Enabled Tax Automation Software. It further validates the importance of our mission to empower businesses with leading tax technology,” said Vertex CEO David DeStefano. “This recognition highlights the continuing growth of our portfolio and capabilities as we simplify compliance and address the evolving needs of diverse businesses in an increasingly complex tax environment.”



Vertex remains steadfast in its commitment to enabling compliance, optimizing tax processes and helping businesses navigate the challenges of a dynamic global economy. With decades of experience, Vertex delivers innovative tax technology designed to support complex operations across industries, helping ensure accurate tax determination, and seamlessly integrating with evolving business models.



Previous recognitions of the Company being named to the Leaders Category include:




  • IDC MarketScape: SaaS and Cloud-Enabled Sales and Use Tax Automation Software for Enterprise 2021 Vendor Assessment (doc #US47987421, October 2021)


  • IDC MarketScape: Worldwide SaaS and Cloud Value-Added Tax Software 2021 Vendor Assessment (doc #US47987321, October 2021)


  • IDC MarketScape: Worldwide SaaS and Cloud-Enabled Sales Tax and VAT Automation Applications 2019 Vendor Assessment (doc #US43263718, January 2019)





“For growing businesses facing global tax complexities, investing in intelligent, automated, end-to-end tax management tools is essential,” said Kevin Permenter, Senior Director, Enterprise Applications Research at IDC. “Vertex leverages deep expertise in enterprise-level tax software, offering industry-leading content, real-time reporting capabilities and a customer-focused approach to help navigate and adapt to the evolving landscape of global commerce.”




Click here

to learn how Vertex’s scalable tax automation solutions simplify compliance and support global growth.




About IDC MarketScape



IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of technology and service suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.




About Vertex



Vertex, Inc. is a leading global provider of indirect tax solutions. The Company’s mission is to deliver the most trusted tax technology enabling global businesses to transact, comply and grow with confidence. Vertex provides solutions that can be tailored to specific industries for major lines of indirect tax, including sales and consumer use, value added and payroll. Headquartered in North America, and with offices in South America and Europe, Vertex employs over 1,500 professionals and serves companies across the globe.



For more information, visit

www.vertexinc.com

or follow us on

Twitter

and

LinkedIn

.




Copyright © 2024 Vertex, Inc. All rights reserved. The information contained herein is intended for information purposes only, may change at any time in the future, and is not legal or tax advice. The product direction and potential roadmap information is not a guarantee, may not be incorporated into any contract, and is not a commitment to deliver any material, code, or functionality.  This information should not be relied upon in making purchasing, legal, or tax decisions. The development, release, and timing of any features or functionality described for Vertex's products remains at the sole discretion of Vertex, Inc.  Any statements in this release that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to various risks and uncertainties described in Vertex's filings with the U.S. Securities and Exchange Commission ("SEC") that could cause actual results to differ materially from expectations. Vertex cautions readers not to place undue reliance on these forward-looking statements which Vertex has no obligation to update.




Vertex Company Contact:



Rachel Litcofsky


Manager, Public Relations



mediainquiries@vertexinc.com




Investor Relations Contact:



Joe Crivelli


Vertex, Inc.



investors@vertexinc.com






This article was originally published on Quiver News, read the full story.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

Stocks
Quiver Quantitative logo
Quiver Quantitative Contributor
Track the performance and holdings of backtested trading strategies built on Quiver's datasets-> Build and test your own strategies, using Quiver's data-> Be the first to know the most important updates across all our datasets-> More articles by this author->

Stocks mentioned

VERX

More Related Articles

Info icon

This data feed is not available at this time.

Data is currently not available

  • •

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.