Lazard Asset Management LLC Purchases 33,357 Shares of Verra Mobility Co. (NASDAQ:VRRM)

Lazard Asset Management LLC raised its stake in shares of Verra Mobility Co. (NASDAQ:VRRM - Free Report) by 13.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 290,816 shares of the company's stock after acquiring an additional 33,357 shares during the period. Lazard Asset Management LLC owned about 0.18% of Verra Mobility worth $7,031,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of VRRM. Barclays PLC grew its holdings in shares of Verra Mobility by 400.2% in the third quarter. Barclays PLC now owns 294,457 shares of the company's stock valued at $8,189,000 after acquiring an additional 235,589 shares in the last quarter. Redhawk Wealth Advisors Inc. boosted its position in Verra Mobility by 5.7% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 70,931 shares of the company's stock worth $1,715,000 after purchasing an additional 3,819 shares during the last quarter. Avanza Fonder AB purchased a new position in Verra Mobility in the fourth quarter worth $74,000. ZWJ Investment Counsel Inc. bought a new position in Verra Mobility in the 4th quarter valued at $213,000. Finally, Perpetual Ltd increased its position in shares of Verra Mobility by 12.4% during the 4th quarter. Perpetual Ltd now owns 272,898 shares of the company's stock valued at $6,599,000 after purchasing an additional 30,030 shares during the last quarter.

Insiders Place Their Bets

In other news, insider Jonathan Keyser sold 18,719 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $24.28, for a total value of $454,497.32. Following the sale, the insider now directly owns 1,179 shares of the company's stock, valued at approximately $28,626.12. This represents a 94.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.05% of the company's stock.

Verra Mobility Stock Performance

Verra Mobility stock traded up $0.89 during midday trading on Tuesday, reaching $24.59. The stock had a trading volume of 562,332 shares, compared to its average volume of 1,243,610. The firm has a market capitalization of $3.92 billion, a PE ratio of 40.98, a P/E/G ratio of 2.18 and a beta of 0.80. Verra Mobility Co. has a 12 month low of $19.51 and a 12 month high of $31.03. The company has a quick ratio of 2.52, a current ratio of 2.61 and a debt-to-equity ratio of 2.13. The firm's 50-day moving average price is $22.01 and its 200 day moving average price is $23.53.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.01. The company had revenue of $223.25 million for the quarter, compared to analyst estimates of $216.94 million. Verra Mobility had a net margin of 11.64% and a return on equity of 38.97%. The company's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 earnings per share. As a group, research analysts predict that Verra Mobility Co. will post 1.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

VRRM has been the topic of a number of research analyst reports. Robert W. Baird boosted their price target on shares of Verra Mobility from $27.00 to $28.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Morgan Stanley dropped their target price on shares of Verra Mobility from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. Baird R W raised shares of Verra Mobility from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 22nd. Finally, UBS Group decreased their price target on shares of Verra Mobility from $31.50 to $29.50 and set a "buy" rating for the company in a research note on Thursday, May 8th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus 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.