William Blair Investment Management LLC Purchases 352,942 Shares of Verra Mobility Corp $VRRM

Key Points

• William Blair Investment Management LLC increased its stake in Verra Mobility Corp by 15.8%, purchasing an additional 352,942 shares, bringing their total ownership to approximately 2.58 million shares.
• Wall Street analysts have mixed ratings on Verra Mobility, with one upgrading its rating to "outperform" while others maintained a "hold" rating, indicating a consensus rating of "Moderate Buy".
• Verra Mobility reported a net margin of 4.30% for the last quarter with earnings per share topping estimates, showcasing a year-over-year revenue increase of 6.1%.

William Blair Investment Management LLC boosted its stake in shares of Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 15.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,582,884 shares of the company's stock after purchasing an additional 352,942 shares during the quarter. William Blair Investment Management LLC owned about 1.62% of Verra Mobility worth $65,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in VRRM. Oppenheimer Asset Management Inc. boosted its position in 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 purchasing an additional 2,823 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in Verra Mobility by 10.0% during the first quarter. Illinois Municipal Retirement Fund now owns 95,803 shares of the company's stock valued at $2,157,000 after purchasing an additional 8,697 shares in the last quarter. Peregrine Capital Management LLC boosted its position in Verra Mobility by 3.4% during the first quarter. Peregrine Capital Management LLC now owns 559,909 shares of the company's stock valued at $12,604,000 after purchasing an additional 18,620 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in Verra Mobility during the first quarter valued at about $541,000. Finally, Xponance Inc. boosted its position in Verra Mobility by 4.9% during the first quarter. Xponance Inc. now owns 12,451 shares of the company's stock valued at $280,000 after purchasing an additional 586 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on VRRM shares. Wall Street Zen downgraded Verra Mobility from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Weiss Ratings restated a "hold (c-)" rating on shares of Verra Mobility in a report on Wednesday, October 8th. Finally, Robert W. Baird increased 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 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. Based on data from MarketBeat.com, Verra Mobility currently has a consensus rating of "Moderate Buy" and an average price target of $27.88.

Verra Mobility Stock Performance

Shares of Verra Mobility stock opened at $24.26 on Friday. Verra Mobility Corp has a 52 week low of $19.51 and a 52 week high of $27.80. The firm has a market capitalization of $3.87 billion, a P/E ratio of 101.09, a PEG ratio of 2.84 and a beta of 0.77. The company has a quick ratio of 2.21, a current ratio of 2.28 and a debt-to-equity ratio of 2.93. The company has a 50 day moving average price of $24.44 and a 200 day moving average price of $24.00.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.34 earnings per share (EPS) 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 firm had revenue of $236.03 million during the quarter, compared to analysts' expectations of $232.78 million. During the same period last year, the business posted $0.31 earnings per share. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts expect that Verra Mobility Corp will post 1.08 EPS for the current 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.

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