Perpetual Ltd Cuts Holdings in Verra Mobility Corp (NASDAQ:VRRM)

Perpetual Ltd lessened its stake in Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 40.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 163,443 shares of the company's stock after selling 109,455 shares during the period. Perpetual Ltd owned about 0.10% of Verra Mobility worth $3,679,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its position in Verra Mobility by 245.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,309 shares of the company's stock valued at $56,000 after purchasing an additional 1,640 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Verra Mobility by 6.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,822,236 shares of the company's stock valued at $44,062,000 after buying an additional 102,575 shares during the period. Cornerstone Investment Partners LLC grew its holdings in Verra Mobility by 39.3% during the 4th quarter. Cornerstone Investment Partners LLC now owns 20,818 shares of the company's stock worth $503,000 after acquiring an additional 5,871 shares during the period. Aigen Investment Management LP acquired a new position in shares of Verra Mobility in the 4th quarter valued at about $303,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Verra Mobility during the 4th quarter valued at about $5,218,000.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Baird R W raised Verra Mobility from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. Robert W. Baird boosted their target price on shares of Verra Mobility from $27.00 to $28.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. UBS Group cut their target price on shares of Verra Mobility from $31.50 to $29.50 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Finally, 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. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $27.38.

Insider Transactions at Verra Mobility

In other news, insider Jonathan Keyser sold 18,719 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $24.28, for a total value of $454,497.32. Following the completion of the sale, the insider directly 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 SEC, which is available through this hyperlink. Company insiders own 1.05% of the company's stock.

Verra Mobility Stock Up 0.9%

Shares of NASDAQ:VRRM traded up $0.22 during trading on Tuesday, reaching $25.61. 323,581 shares of the stock were exchanged, compared to its average volume of 1,158,162. Verra Mobility Corp has a 1-year low of $19.51 and a 1-year high of $31.03. The stock has a fifty day moving average of $23.69 and a two-hundred day moving average of $23.70. The company has a debt-to-equity ratio of 3.45, a current ratio of 2.19 and a quick ratio of 2.10. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of 128.36, a price-to-earnings-growth ratio of 2.44 and a beta of 0.76.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.01. The firm had revenue of $223.25 million for the quarter, compared to the consensus estimate of $216.94 million. Verra Mobility had a net margin of 3.88% and a return on equity of 51.05%. The business's revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.27 earnings per share. Research analysts anticipate that Verra Mobility Corp will post 1.08 earnings per share for the current fiscal year.

Verra Mobility 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.