Motley Fool Asset Management LLC Acquires 17,060 Shares of Verra Mobility Corp (NASDAQ:VRRM)

Key Points

• Motley Fool Asset Management LLC increased its stake in Verra Mobility Corp by 27.9%, acquiring an additional 17,060 shares during the first quarter, bringing its total holdings to 78,260 shares valued at approximately $1.76 million.
• Verra Mobility reported $0.34 earnings per share for the latest quarter, surpassing estimates and achieving a revenue of $236.03 million, a 6.1% increase year-over-year.
• Several brokerages have recently adjusted their ratings on Verra Mobility, with UBS reducing their price target to $29.50 while Baird upgraded the stock to a strong-buy rating.

Motley Fool Asset Management LLC raised its position in shares of Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 27.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,260 shares of the company's stock after purchasing an additional 17,060 shares during the period. Motley Fool Asset Management LLC's holdings in Verra Mobility were worth $1,762,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN raised its holdings in shares of Verra Mobility by 7.2% during the 4th quarter. Wells Fargo & Company MN now owns 197,604 shares of the company's stock worth $4,778,000 after buying an additional 13,236 shares in the last quarter. Bank of Montreal Can increased its holdings in Verra Mobility by 10.1% in the 4th quarter. Bank of Montreal Can now owns 20,938 shares of the company's stock worth $506,000 after purchasing an additional 1,915 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Verra Mobility in the 4th quarter worth about $1,436,000. Raymond James Financial Inc. acquired a new position in Verra Mobility in the 4th quarter worth about $5,218,000. Finally, Rockefeller Capital Management L.P. increased its holdings in Verra Mobility by 23.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 619,241 shares of the company's stock worth $14,974,000 after purchasing an additional 118,375 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages have issued reports on VRRM. Baird R W raised Verra Mobility from a "hold" rating to a "strong-buy" rating in a 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 report on Thursday, May 8th. UBS Group lowered their target price on Verra Mobility from $31.50 to $29.50 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, Wall Street Zen cut Verra Mobility from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $27.38.

Verra Mobility Trading Down 2.0%

VRRM stock traded down $0.48 during midday trading on Thursday, hitting $24.12. The stock had a trading volume of 651,121 shares, compared to its average volume of 1,132,609. The company has a current ratio of 2.28, a quick ratio of 2.21 and a debt-to-equity ratio of 2.93. The firm has a market cap of $3.85 billion, a P/E ratio of 100.50, a price-to-earnings-growth ratio of 2.84 and a beta of 0.79. The business has a fifty day moving average price of $24.74 and a two-hundred day moving average price of $23.76. Verra Mobility Corp has a 1-year low of $19.51 and a 1-year high of $28.25.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.01. Verra Mobility had a return on equity of 55.14% and a net margin of 4.30%. The company had revenue of $236.03 million for the quarter, compared to the consensus estimate of $232.78 million. During the same period in the previous year, the business earned $0.31 EPS. The firm's revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts predict that Verra Mobility Corp will post 1.08 earnings per share for the current fiscal 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.