Teacher Retirement System of Texas Buys New Shares in Verra Mobility Corp (NASDAQ:VRRM)

Teacher Retirement System of Texas purchased a new position in Verra Mobility Corp (NASDAQ:VRRM - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,016 shares of the company's stock, valued at approximately $541,000.

A number of other hedge funds have also made changes to their positions in the stock. Aster Capital Management DIFC Ltd increased its holdings in Verra Mobility by 585.1% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 4,720 shares of the company's stock worth $114,000 after buying an additional 4,031 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Verra Mobility by 6.8% in the fourth 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 during the period. Headlands Technologies LLC bought a new position in Verra Mobility in the fourth quarter worth $228,000. Hancock Whitney Corp bought a new position in Verra Mobility in the fourth quarter worth $241,000. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Verra Mobility by 32.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 11,451 shares of the company's stock valued at $258,000 after acquiring an additional 2,823 shares during the period.

Insider Activity

In other Verra Mobility news, insider Jonathan Keyser sold 18,719 shares of the company's 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 completion of the transaction, the insider owned 1,179 shares of the company's stock, valued at $28,626.12. This represents a 94.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.05% of the company's stock.

Verra Mobility Trading Down 0.9%

Verra Mobility stock traded down $0.23 during trading hours on Friday, hitting $24.64. The stock had a trading volume of 654,156 shares, compared to its average volume of 1,141,798. The company has a quick ratio of 2.10, a current ratio of 2.19 and a debt-to-equity ratio of 3.45. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 123.20, a P/E/G ratio of 2.40 and a beta of 0.77. Verra Mobility Corp has a one year low of $19.51 and a one year high of $31.03. The business's 50 day simple moving average is $24.44 and its 200-day simple moving average is $23.82.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.01. The firm had revenue of $223.25 million during the quarter, compared to analysts' expectations of $216.94 million. Verra Mobility had a return on equity of 51.05% and a net margin of 3.88%. The company's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 earnings per share. On average, equities analysts predict that Verra Mobility Corp will post 1.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on VRRM. Morgan Stanley cut their price target on Verra Mobility from $25.00 to $23.00 and set an "equal weight" rating for the company in a report on Thursday, March 27th. UBS Group cut their price objective on Verra Mobility from $31.50 to $29.50 and set a "buy" rating on the stock in a report on Thursday, May 8th. Wall Street Zen upgraded Verra Mobility from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 12th. Baird R W upgraded Verra Mobility from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. Finally, Robert W. Baird boosted 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. One analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Verra Mobility presently has an average rating of "Buy" and a consensus target price of $27.38.

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.