Envestnet Asset Management Inc. Has $5.11 Million Stake in VERRA MOBILITY CORP (NASDAQ:VRRM)

Envestnet Asset Management Inc. cut its stake in shares of VERRA MOBILITY CORP (NASDAQ:VRRM - Free Report) by 17.4% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 226,961 shares of the company's stock after selling 47,794 shares during the period. Envestnet Asset Management Inc. owned approximately 0.14% of VERRA MOBILITY worth $5,109,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Teacher Retirement System of Texas acquired a new position in VERRA MOBILITY during the 1st quarter worth $541,000. Peregrine Capital Management LLC lifted its holdings in shares of VERRA MOBILITY by 3.4% in the first quarter. Peregrine Capital Management LLC now owns 559,909 shares of the company's stock valued at $12,604,000 after buying an additional 18,620 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in shares of VERRA MOBILITY by 10.0% in the first quarter. Illinois Municipal Retirement Fund now owns 95,803 shares of the company's stock valued at $2,157,000 after buying an additional 8,697 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in shares of VERRA MOBILITY by 32.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 11,451 shares of the company's stock valued at $258,000 after buying an additional 2,823 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of VERRA MOBILITY by 30.1% in the first quarter. Exchange Traded Concepts LLC now owns 37,276 shares of the company's stock valued at $839,000 after buying an additional 8,631 shares during the period.

VERRA MOBILITY Trading Up 2.3%

Shares of NASDAQ VRRM traded up $0.55 during midday trading on Friday, hitting $24.97. The stock had a trading volume of 1,364,180 shares, compared to its average volume of 734,383. The company's 50-day simple moving average is $24.52 and its 200 day simple moving average is $23.83. The firm has a market cap of $3.98 billion, a P/E ratio of 124.85, a price-to-earnings-growth ratio of 2.35 and a beta of 0.77. VERRA MOBILITY CORP has a fifty-two week low of $19.51 and a fifty-two week high of $30.71. 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 quarterly earnings data on Wednesday, May 7th. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.01. The business 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 firm's quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 earnings per share. Research analysts anticipate that VERRA MOBILITY CORP will post 1.08 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on VRRM shares. Baird R W raised VERRA MOBILITY from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 22nd. Robert W. Baird upped their target price on VERRA MOBILITY from $27.00 to $28.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. UBS Group dropped their target price on VERRA MOBILITY from $31.50 to $29.50 and set a "buy" rating on the stock in a research report on Thursday, May 8th. 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 research report on Thursday, March 27th. Finally, Wall Street Zen raised VERRA MOBILITY from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 12th. One 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. Based on data from MarketBeat, VERRA MOBILITY presently has a consensus rating of "Buy" and a consensus target price of $27.38.

Insider Activity at VERRA MOBILITY

In other news, insider Jonathan Keyser sold 18,719 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $24.28, for a total value of $454,497.32. Following the sale, the insider directly owned 1,179 shares in the company, valued at $28,626.12. The trade was a 94.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.05% of the stock is currently owned by company insiders.

VERRA MOBILITY Company 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.