Bank of New York Mellon Corp Sells 47,995 Shares of Verra Mobility Corp (NASDAQ:VRRM)

Bank of New York Mellon Corp decreased its holdings in Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 998,166 shares of the company's stock after selling 47,995 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.63% of Verra Mobility worth $22,469,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of VRRM. Aster Capital Management DIFC Ltd grew its position in shares of Verra Mobility by 585.1% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 4,720 shares of the company's stock worth $114,000 after buying an additional 4,031 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Verra Mobility by 6.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,381 shares of the company's stock worth $154,000 after acquiring an additional 409 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Verra Mobility in the 4th quarter worth about $228,000. Hancock Whitney Corp acquired a new stake in shares of Verra Mobility in the 4th quarter worth about $241,000. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Verra Mobility by 32.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,451 shares of the company's stock worth $258,000 after acquiring an additional 2,823 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on VRRM shares. Baird R W upgraded shares of Verra Mobility from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 22nd. Wall Street Zen upgraded shares of Verra Mobility from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 12th. Morgan Stanley lowered their target price on shares of Verra Mobility from $25.00 to $23.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. Robert W. Baird increased their price objective on shares of Verra Mobility from $27.00 to $28.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, UBS Group decreased their price objective on shares of Verra Mobility from $31.50 to $29.50 and set a "buy" rating for the company in a research note on Thursday, May 8th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $27.38.

Insider Buying and Selling at Verra Mobility

In other news, insider Jonathan Keyser sold 18,719 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $24.28, for a total transaction of $454,497.32. Following the completion of the transaction, the insider directly owned 1,179 shares of the company's stock, valued at $28,626.12. This represents a 94.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.05% of the stock is owned by corporate insiders.

Verra Mobility Stock Down 0.6%

NASDAQ:VRRM traded down $0.14 on Monday, hitting $24.50. The stock had a trading volume of 683,742 shares, compared to its average volume of 1,141,991. The company has a debt-to-equity ratio of 3.45, a quick ratio of 2.10 and a current ratio of 2.19. The stock has a market cap of $3.91 billion, a P/E ratio of 122.50, a price-to-earnings-growth ratio of 2.37 and a beta of 0.77. Verra Mobility Corp has a 1 year low of $19.51 and a 1 year high of $31.03. The firm's fifty day simple moving average is $24.45 and its two-hundred day simple moving average is $23.82.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.01. Verra Mobility had a net margin of 3.88% and a return on equity of 51.05%. The firm had revenue of $223.25 million during the quarter, compared to the consensus estimate of $216.94 million. During the same period in the prior year, the firm earned $0.27 EPS. The company's revenue was up 6.5% compared to the same quarter last year. Analysts predict that Verra Mobility Corp will post 1.08 earnings per share for the current year.

Verra Mobility Profile

Verra Mobility Corporation provides smart mobility technology solutions and services in the United States, Australia, Canada, and Europe. It operates through three segments: Commercial Services, Government Solutions, and Parking Solutions. The Commercial Services segment provides automated toll and violations management, and title and registration services to rental car companies, fleet management companies, and other large fleet owners.