Verra Mobility Corp $VRRM Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its stake in Verra Mobility Corp by 11.0%, owning 192,165 shares worth approximately $4.3 million after selling 23,634 shares in the first quarter.
• In contrast, American Century Companies Inc. increased its stake by 10.8%, owning over 2.3 million shares valued at around $52 million.
• Verra Mobility's recent quarterly earnings report showed an EPS of $0.34, exceeding estimates, with a revenue increase of 6.1% year-over-year, totaling $236 million.

Raymond James Financial Inc. lowered its holdings in shares of Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 11.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 192,165 shares of the company's stock after selling 23,634 shares during the period. Raymond James Financial Inc. owned about 0.12% of Verra Mobility worth $4,326,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in VRRM. Caitong International Asset Management Co. Ltd boosted its holdings in Verra Mobility by 13,638.5% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,786 shares of the company's stock worth $40,000 after purchasing an additional 1,773 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Verra Mobility by 18.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,542 shares of the company's stock worth $170,000 after purchasing an additional 1,161 shares in the last quarter. US Bancorp DE increased its stake in shares of Verra Mobility by 76.6% in the 1st quarter. US Bancorp DE now owns 7,782 shares of the company's stock worth $175,000 after acquiring an additional 3,376 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in Verra Mobility during the 1st quarter valued at about $224,000. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Verra Mobility by 32.7% during the 1st 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 last quarter.

Wall Street Analyst Weigh In

VRRM has been the topic of a number of research reports. Wall Street Zen downgraded shares of Verra Mobility from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Robert W. Baird boosted their price objective on shares of Verra Mobility from $28.00 to $30.00 and gave the company an "outperform" rating in a research report on Thursday, August 21st. One research 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's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $27.88.

Verra Mobility Price Performance

NASDAQ VRRM traded down $0.37 during mid-day trading on Wednesday, hitting $24.05. The stock had a trading volume of 435,325 shares, compared to its average volume of 1,089,802. Verra Mobility Corp has a 52-week low of $19.51 and a 52-week high of $28.25. The company has a market cap of $3.84 billion, a price-to-earnings ratio of 100.22, a P/E/G ratio of 2.86 and a beta of 0.80. The company has a 50 day simple moving average of $24.80 and a 200 day simple moving average of $23.54. The company has a quick ratio of 2.21, a current ratio of 2.28 and a debt-to-equity ratio of 2.93.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $232.78 million. During the same quarter last year, the business posted $0.31 earnings per share. Verra Mobility's revenue was up 6.1% compared to the same quarter last year. Equities analysts forecast that Verra Mobility Corp will post 1.08 EPS 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.