Price T Rowe Associates Inc. MD Has $231.07 Million Stock Holdings in Verra Mobility Corp $VRRM

Key Points

• Price T Rowe Associates Inc. MD increased its holdings in Verra Mobility Corp by 12.7% in the first quarter, owning approximately 10.27 million shares worth $231.07 million.
• Multiple institutional investors have significantly modified their positions in Verra Mobility, with Hsbc Holdings PLC increasing its stake by 191.8% during the same quarter.
• Verra Mobility Corp reported earnings of $0.34 per share, exceeding analysts' expectations, and forecasted an EPS of 1.08 for the current fiscal year.

Price T Rowe Associates Inc. MD lifted its holdings in Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 12.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 10,265,348 shares of the company's stock after purchasing an additional 1,153,573 shares during the quarter. Price T Rowe Associates Inc. MD owned about 6.43% of Verra Mobility worth $231,074,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Hsbc Holdings PLC grew its position in shares of Verra Mobility by 191.8% in the 1st quarter. Hsbc Holdings PLC now owns 55,947 shares of the company's stock valued at $1,259,000 after purchasing an additional 36,777 shares during the period. Quantbot Technologies LP acquired a new position in shares of Verra Mobility in the 1st quarter valued at approximately $226,000. Wellington Management Group LLP grew its position in shares of Verra Mobility by 5.1% in the 1st quarter. Wellington Management Group LLP now owns 7,922,473 shares of the company's stock valued at $178,335,000 after purchasing an additional 386,760 shares during the period. Northern Trust Corp boosted its position in Verra Mobility by 3.5% during the 1st quarter. Northern Trust Corp now owns 2,426,306 shares of the company's stock worth $54,616,000 after acquiring an additional 83,168 shares during the last quarter. Finally, Algert Global LLC boosted its position in Verra Mobility by 1,046.0% during the 1st quarter. Algert Global LLC now owns 230,880 shares of the company's stock worth $5,197,000 after acquiring an additional 210,734 shares during the last quarter.

Verra Mobility Trading Up 3.8%

NASDAQ VRRM opened at $25.54 on Friday. The company has a market cap of $4.07 billion, a PE ratio of 106.42, a PEG ratio of 2.99 and a beta of 0.79. 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 Corp has a 12 month low of $19.51 and a 12 month high of $28.25. The stock has a 50 day moving average of $24.77 and a 200-day moving average of $23.65.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.34 earnings per share 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 business had revenue of $236.03 million for the quarter, compared to analysts' expectations of $232.78 million. During the same quarter in the prior year, the business earned $0.31 EPS. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities research analysts anticipate that Verra Mobility Corp will post 1.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wall Street Zen downgraded Verra Mobility from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. UBS Group reduced their price target on Verra Mobility from $31.50 to $29.50 and set a "buy" rating for the company in a research report on Thursday, May 8th. Finally, Robert W. Baird upped their price target on Verra Mobility from $28.00 to $30.00 and gave the stock an "outperform" rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Verra Mobility presently has an average rating of "Buy" and an average target price of $27.88.

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.

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