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Vertex, Inc. ( NASDAQ:VERX – Get Free Report ) shares hit a new 52-week high on Thursday . The company traded as high as $53.04 and last traded at $52.98, with a volume of 143372 shares traded. The stock had previously closed at $52.31. Analyst Ratings Changes Several analysts have commented on VERX shares. BMO Capital Markets lifted their target price on shares of Vertex from $42.00 to $52.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group increased their price target on Vertex from $42.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, November 7th. JMP Securities upped their price objective on shares of Vertex from $47.00 to $61.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. Robert W. Baird upped their price objective on shares of Vertex from $43.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC increased their price target on shares of Vertex from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Vertex presently has an average rating of “Moderate Buy” and a consensus target price of $52.30. View Our Latest Analysis on VERX Vertex Stock Up 0.7 % Vertex ( NASDAQ:VERX – Get Free Report ) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The business had revenue of $170.40 million for the quarter, compared to analyst estimates of $165.70 million. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter last year, the business earned $0.06 earnings per share. Sell-side analysts anticipate that Vertex, Inc. will post 0.38 EPS for the current fiscal year. Insider Buying and Selling at Vertex In other Vertex news, major shareholder Jeffrey Westphal sold 1,225,000 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $39.42, for a total value of $48,289,500.00. Following the sale, the insider now directly owns 7,895 shares in the company, valued at $311,220.90. This trade represents a 99.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website . Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 158,900 shares of Vertex stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $37.27, for a total transaction of $5,922,203.00. Following the sale, the insider now owns 1,430,100 shares in the company, valued at approximately $53,299,827. This trade represents a 10.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here . Insiders sold 4,330,722 shares of company stock valued at $197,009,011 in the last quarter. Company insiders own 44.58% of the company’s stock. Hedge Funds Weigh In On Vertex Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Banque Pictet & Cie SA raised its stake in shares of Vertex by 551.9% during the second quarter. Banque Pictet & Cie SA now owns 949,540 shares of the company’s stock worth $34,231,000 after buying an additional 803,881 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in Vertex in the second quarter valued at approximately $22,173,000. Brown Capital Management LLC bought a new stake in Vertex in the third quarter valued at approximately $20,938,000. Premier Fund Managers Ltd boosted its holdings in shares of Vertex by 787.0% in the third quarter. Premier Fund Managers Ltd now owns 524,775 shares of the company’s stock valued at $19,280,000 after buying an additional 465,610 shares during the period. Finally, Geneva Capital Management LLC boosted its holdings in shares of Vertex by 40.1% in the third quarter. Geneva Capital Management LLC now owns 1,450,599 shares of the company’s stock valued at $55,863,000 after buying an additional 414,945 shares during the period. 59.10% of the stock is currently owned by institutional investors and hedge funds. About Vertex ( Get Free Report ) Vertex, Inc, together with its subsidiaries, provides enterprise tax technology solutions for retail trade, wholesale trade, and manufacturing industries in the United States and internationally. The company offers tax determination; compliance and reporting, including workflow management tools, role-based security, and event logging; tax data management; document management; analytics and insights; pre-built integration that includes mapping data fields, and business logic and configurations; industry-specific solutions; and technology specific solutions, such as chain flow accelerator and SAP-specific tools. See Also Five stocks we like better than Vertex What Are the U.K. Market Holidays? How to Invest and Trade Tesla Investors Continue to Profit From the Trump Trade How to Calculate Return on Investment (ROI) MicroStrategy’s Stock Dip vs. Coinbase’s Potential Rally Insider Selling Explained: Can it Inform Your Investing Choices? 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WASHINGTON (AP) — Lawmakers, meet your latest lobbyists: online influencers from TikTok. The platform is once again bringing influencers to Washington, this time to lobby members of Congress to reject a fast-moving bill that would force TikTok's Beijing-based parent company to sell or be banned in the United States. On Tuesday, some influencers began a two-day advocacy event in support of TikTok, which arranged their trip ahead of a House floor vote on the legislation on Wednesday. But unlike a similar lobbying event the company put together last March when talks of a TikTok ban reached a fever pitch, this year’s effort appeared more rushed as the company scrambles to counter the legislation, which advanced rapidly on Capitol Hill. Summer Lucille, a TikTok content creator with 1.4 million followers who is visiting Washington this week, said if TikTok is banned, she “don’t know what it will do” to her business, a plus-sized boutique in Charlotte, North Carolina. “It will be devastating,” Lucille said in an interview arranged by the platform. In an unusual showing of bipartisanship, a House panel unanimously approved the measure last week. President Joe Biden has said he will sign the legislation if lawmakers pass it. But it’s unclear what will happen in the Senate, where several bills aimed at banning TikTok have stalled. The legislation faces other roadblocks. Former president and current presidential candidate Donald Trump, who holds sway over both House and Senate Republicans, has voiced opposition to the bill, saying it would empower Meta-owned Facebook, which he continues to lambast over his 2020 election loss. The bill also faces pushback from some progressive lawmakers in the House as well as civil liberties groups who argue it infringes on the First Amendment. TikTok could be banned if ByteDance, the parent company, doesn’t sell its stakes in the platform and other applications it owns within six months of the bill’s enactment. The fight over the platform takes place as U.S.-China relations have shifted to that of strategic rivalry, especially in areas such as advanced technologies and data security, seen as essential to each country’s economic prowess and national security. The shift, which started during the Trump years and has continued under Biden, has placed restrictions on export of advanced technologies and outflow of U.S. monies to China, as well as access to the U.S. market by certain Chinese businesses. The Biden administration also has cited human rights concerns in blacklisting a number of Chinese companies accused of assisting the state surveillance campaign against ethnic minorities. TikTok isn’t short on lobbyists. Its Beijing-based parent company ByteDance has a strong lobbying apparatus in Washington that includes dozens of lobbyists from well-known consulting and legal firms as well as influential insiders, such as former members of Congress and ex-aides to powerful lawmakers, according to the Foundation for Defense of Democracies. TikTok CEO Shou Zi Chew will also be in Washington this week and plans to meet with lawmakers, according to a company spokesperson who said Chew’s visit was previously scheduled. But influencers, who have big followings on social media and can share personal stories of how the platform boosted their businesses — or simply gave them a voice — are still perhaps one of the most powerful tools the company has in its arsenal. A TikTok spokesperson said dozens of influencers will attend the two-day event, including some who came last year. The spokesperson did not immediately respond to questions about how many new people would be attending this year’s lobbying blitz. The company is briefing them ahead of meetings with their representatives and media interviews. Lucille, who runs the boutique in North Carolina, says has seen a substantial surge in revenue because of her TikTok page. The 34-year-old began making TikTok content focusing on plus-sized fashion in March 2022, more than a decade after she started her business. She quickly amassed thousands of followers after posting a nine-second video about her boutique. Because of her popularity on the platform, her business has more online exposure and customers, some of whom have visited from as far as Europe. She says she also routinely hears from followers who are finding support through her content about fashion and confidence. JT Laybourne, an influencer who also came to Washington, said he joined TikTok in early 2019 after getting some negative comments on videos he posted on Instagram while singing in the car with his children. Laybourne, who lives in Salt Lake City, Utah, said he was attracted to the short-form video platform because it was easy to create videos that contained music. Like Lucille, he quickly gained traction on the app. He says he also received more support from TikTok users, who reacted positively to content he produced on love and positivity. Laybourne says the community he built on the platform rallied around his family when he had to undergo heart surgery in 2020. Following the surgery, he said he used the platform to help raise $1 million for the American Heart Association in less than two years. His family now run an apparel company that gets most of its traffic from TikTok. “I will fight tooth-and-nail for this app,” he said. But whether the opposition the company is mounting through lobbyists or influencers will be enough to derail the bill is yet to be seen. On Tuesday, House lawmakers received a briefing on national security concerns regarding TikTok from the FBI, Justice Department and intelligence officials. AP Journalist Didi Tang contributed to this report. This story was originally published on March 12, 2024. It was updated on December 23, 2024 to clarify a quote by TikTok content creator Summer Lucille.UnitedHealthcare CEO kept a low public profile. Then he was shot to death in New York
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AP News Summary at 4:24 p.m. EST
IT has been over 20 years since I have seen rural people so animated about any political issue. In the early 2000s, the countryside went to London for a series of protest marches with September 2002 seeing a reported 400,000 people march through London for the Liberty and Livelihood March. Last month, farmers again travelled to London to voice their opposition to the changes to Inheritance Tax which were announced in the autumn Budget. The Metropolitan Police estimate that 13,000 people attended the protest rally in Westminster to demonstrate how widely the proposed changes would actually affect the farming industry. Over recent weeks the Government figures into how many farms will be affected have been looked at by other bodies and the conclusion is that the data upon which the policy was based was widely inaccurate. That fact comes as no surprise to any farmer or farming advisor, or indeed anyone with any basic agricultural industry understanding, and I think this, combined with previous assurances regarding taxation goes some way to explaining the depth of feeling in the agricultural community about this issue. For the casual observer not involved in agriculture, I am aware that it is very easy to dismiss the protests as “farmers whinging about having to pay some tax” and wonder why there should be any assistance with inheritance tax for farms. I can understand this assessment, and what the farmers’ lobbying groups now need to concentrate on is explaining the impact on real-life farmers, real-life farms and the look of the countryside that the proposed changes would bring. Without family farms, the UK’s food security becomes ever more vulnerable. The lack of support for the UK’s horticultural industry has led to a very worrying reliance on imports of fruit and vegetables. The same could soon be the case for all agricultural produce and the impact this would have upon our economy and countryside is a frightening prospect. The lobbying of the government to re-visit the data upon which the policies were based continues and every family farmer across the country is hoping that this will lead to a re-think in relation to the proposed changes in both Agricultural Property Relief and Business Property Relief. In the meantime, the normal farming calendar continues and animals have to be fed, cows milked, hedges cut, fences and buildings repaired, crops tended, all in addition to worrying about the likely timing of death of family members and how much to spend on accountancy and legal advice. Despite the raft of media coverage over the Whitehall farmer protests there was one part of the story which was not very widely reported. The organisers of the Farming Rally asked participants to bring British produce to donate to City Harvest food bank. Large quantities of quality British Food were taken to London and donated to City Harvest. This food was then distributed to 400 food banks, hostels and soup kitchens across London. Even when their businesses are under threat Farmers still are thinking of others and want to feed the nation!Mannatech Stock Soars to 52-Week High, Hits $10.6