Intech Investment Management LLC Boosts Stock Holdings in Verra Mobility Corp $VRRM

Key Points

• Intech Investment Management LLC increased its holdings in Verra Mobility Corp by 19.6% in Q1, acquiring an additional 13,636 shares, bringing its total to 83,066 shares valued at approximately $1.87 million.
• Verra Mobility reported earnings of $0.34 per share in its latest quarter, exceeding the consensus estimate of $0.33, along with a revenue increase of 6.1% year-over-year, totaling $236.03 million.
• Several institutional investors, including UBS AM, Wellington Management, and Price T Rowe Associates, have significantly increased their stakes in Verra Mobility, indicating strong investor interest in the company.

Intech Investment Management LLC grew its stake in Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 19.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 83,066 shares of the company's stock after acquiring an additional 13,636 shares during the quarter. Intech Investment Management LLC owned 0.05% of Verra Mobility worth $1,870,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. US Bancorp DE boosted its holdings in Verra Mobility by 76.6% in the first quarter. US Bancorp DE now owns 7,782 shares of the company's stock worth $175,000 after acquiring an additional 3,376 shares in the last quarter. Arizona State Retirement System boosted its holdings in Verra Mobility by 4.2% in the first quarter. Arizona State Retirement System now owns 47,252 shares of the company's stock worth $1,064,000 after acquiring an additional 1,891 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its holdings in Verra Mobility by 2.4% in the first quarter. Punch & Associates Investment Management Inc. now owns 1,121,731 shares of the company's stock worth $25,250,000 after acquiring an additional 26,067 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Verra Mobility by 2,258.8% in the first quarter. GAMMA Investing LLC now owns 83,242 shares of the company's stock worth $1,874,000 after acquiring an additional 79,713 shares in the last quarter. Finally, Caxton Associates LLP bought a new stake in Verra Mobility in the first quarter worth $1,639,000.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on VRRM. Robert W. Baird boosted their price target on Verra Mobility from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Wall Street Zen cut Verra Mobility from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $27.88.

Verra Mobility Trading Down 1.3%

Shares of NASDAQ VRRM traded down $0.33 during midday trading on Friday, hitting $24.30. The company's stock had a trading volume of 432,256 shares, compared to its average volume of 1,083,921. The business's 50 day moving average is $24.66 and its two-hundred day moving average is $23.53. The firm has a market cap of $3.88 billion, a P/E ratio of 101.21, a price-to-earnings-growth ratio of 2.82 and a beta of 0.80. Verra Mobility Corp has a 12-month low of $19.51 and a 12-month high of $28.25. The company has a current ratio of 2.28, a quick ratio of 2.21 and a debt-to-equity ratio of 2.93.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. The company had revenue of $236.03 million for the quarter, compared to the consensus estimate of $232.78 million. Verra Mobility had a return on equity of 55.14% and a net margin of 4.30%.Verra Mobility's quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the business posted $0.31 EPS. As a group, equities research analysts expect that Verra Mobility Corp will post 1.08 EPS for the current year.

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.