WCM Investment Management LLC Trims Stock Position in Verra Mobility Corp $VRRM

Key Points

• WCM Investment Management LLC reduced its stake in Verra Mobility Corp by 1.2%, owning approximately 1.14% of the company worth $46.36 million as of its latest SEC filing.
• Analysts have varied opinions on Verra Mobility, with Weiss Ratings maintaining a "hold" rating while Robert W. Baird upgraded the stock's target price from $28.00 to $30.00, giving it an "outperform" rating.
• Verra Mobility reported earnings of $0.34 per share for the latest quarter, surpassing analysts' estimates and reflecting a 6.1% increase in revenue compared to the prior year.

WCM Investment Management LLC cut its stake in shares of Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 1.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,825,289 shares of the company's stock after selling 21,289 shares during the period. WCM Investment Management LLC owned approximately 1.14% of Verra Mobility worth $46,362,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH purchased a new stake in Verra Mobility during the 2nd quarter valued at approximately $538,000. New York State Teachers Retirement System raised its stake in Verra Mobility by 6.6% during the 2nd quarter. New York State Teachers Retirement System now owns 65,874 shares of the company's stock valued at $1,673,000 after acquiring an additional 4,051 shares during the last quarter. Equitable Trust Co. raised its stake in Verra Mobility by 52.0% during the 2nd quarter. Equitable Trust Co. now owns 53,150 shares of the company's stock valued at $1,349,000 after acquiring an additional 18,182 shares during the last quarter. CWM LLC raised its stake in Verra Mobility by 112.2% during the 2nd quarter. CWM LLC now owns 1,509 shares of the company's stock valued at $38,000 after acquiring an additional 798 shares during the last quarter. Finally, KLP Kapitalforvaltning AS raised its stake in Verra Mobility by 7.1% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 33,300 shares of the company's stock valued at $845,000 after acquiring an additional 2,200 shares during the last quarter.

Analyst Upgrades and Downgrades

VRRM has been the subject of several analyst reports. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Verra Mobility in a research note on Wednesday, October 8th. Wall Street Zen downgraded Verra Mobility from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Robert W. Baird increased their target price on Verra Mobility from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $27.88.

Verra Mobility Stock Performance

Shares of VRRM stock opened at $24.25 on Thursday. The company has a market cap of $3.87 billion, a price-to-earnings ratio of 101.05, a price-to-earnings-growth ratio of 2.83 and a beta of 0.77. The company has a current ratio of 2.28, a quick ratio of 2.21 and a debt-to-equity ratio of 2.93. The stock has a 50 day simple moving average of $24.42 and a 200-day simple moving average of $23.97. Verra Mobility Corp has a 12-month low of $19.51 and a 12-month high of $27.83.

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 analysts' consensus estimates of $0.33 by $0.01. The business had revenue of $236.03 million for the quarter, compared to analysts' expectations of $232.78 million. Verra Mobility had a return on equity of 55.14% and a net margin of 4.30%.The company's revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 EPS. On average, equities analysts forecast that Verra Mobility Corp will post 1.08 EPS for the current year.

Verra Mobility Company 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.

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