New York State Teachers Retirement System Trims Position in Verra Mobility Corp (NASDAQ:VRRM)

New York State Teachers Retirement System lessened its position in Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 21.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 61,823 shares of the company's stock after selling 17,019 shares during the quarter. New York State Teachers Retirement System's holdings in Verra Mobility were worth $1,392,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on VRRM. Morgan Stanley decreased their price target on shares of Verra Mobility from $25.00 to $23.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. Robert W. Baird lifted their price objective on shares of 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 lowered their target price 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. Finally, Baird R W upgraded Verra Mobility from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Verra Mobility currently has an average rating of "Buy" and a consensus price target of $27.38.

Insider Activity

In other Verra Mobility news, insider Jonathan Keyser sold 18,719 shares of Verra Mobility 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 transaction, the insider owned 1,179 shares of the company's stock, valued at $28,626.12. The trade was a 94.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.05% of the stock is currently owned by company insiders.

Verra Mobility Stock Up 0.2%

VRRM stock traded up $0.06 during midday trading on Thursday, reaching $25.40. 740,736 shares of the company were exchanged, compared to its average volume of 1,157,072. The company has a market cap of $4.05 billion, a price-to-earnings ratio of 127.00, a price-to-earnings-growth ratio of 2.40 and a beta of 0.77. The company has a debt-to-equity ratio of 3.45, a quick ratio of 2.10 and a current ratio of 2.19. Verra Mobility Corp has a 1-year low of $19.51 and a 1-year high of $31.03. The stock's 50-day simple moving average is $24.16 and its 200 day simple moving average is $23.78.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.30 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $216.94 million. During the same period last year, the business earned $0.27 EPS. Verra Mobility's revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities analysts forecast that Verra Mobility Corp will post 1.08 earnings per share 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.