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 first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 998,166 shares of the company's stock after selling 47,995 shares during the period. Bank of New York Mellon Corp owned about 0.63% of Verra Mobility worth $22,469,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Verra Mobility by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 17,612,101 shares of the company's stock valued at $425,861,000 after purchasing an additional 159,348 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Verra Mobility by 10.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,111,775 shares of the company's stock valued at $220,323,000 after purchasing an additional 837,648 shares during the period. Westwood Holdings Group Inc. increased its holdings in shares of Verra Mobility by 28.7% in the 4th quarter. Westwood Holdings Group Inc. now owns 4,460,793 shares of the company's stock valued at $107,862,000 after purchasing an additional 994,775 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Verra Mobility by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,268,729 shares of the company's stock valued at $79,037,000 after purchasing an additional 71,031 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Verra Mobility by 1.7% in the 4th quarter. Northern Trust Corp now owns 2,343,138 shares of the company's stock valued at $56,657,000 after purchasing an additional 39,777 shares during the period.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on VRRM. Morgan Stanley dropped their target price on 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 Verra Mobility from $27.00 to $28.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Baird R W upgraded Verra Mobility from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 22nd. Wall Street Zen upgraded Verra Mobility from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 12th. Finally, UBS Group dropped their price objective on Verra Mobility from $31.50 to $29.50 and set a "buy" rating on the stock in a report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $27.38.

Verra Mobility Stock Down 0.9%

NASDAQ:VRRM traded down $0.23 during mid-day trading on Friday, reaching $24.64. The stock had a trading volume of 654,286 shares, compared to its average volume of 1,141,798. The business's 50 day moving average is $24.44 and its 200 day moving average is $23.82. Verra Mobility Corp has a fifty-two week low of $19.51 and a fifty-two week high of $31.03. The stock has a market cap of $3.93 billion, a P/E ratio of 123.20, a PEG ratio of 2.40 and a beta of 0.77. The company has a debt-to-equity ratio of 3.45, a current ratio of 2.19 and a quick ratio of 2.10.

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

Insider Transactions at Verra Mobility

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

About Verra Mobility

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.