Northern Trust Corp Purchases 39,777 Shares of Verra Mobility Co. (NASDAQ:VRRM)

Northern Trust Corp raised its holdings in shares of Verra Mobility Co. (NASDAQ:VRRM - Free Report) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,343,138 shares of the company's stock after purchasing an additional 39,777 shares during the quarter. Northern Trust Corp owned 1.42% of Verra Mobility worth $56,657,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC raised its stake in shares of Verra Mobility by 245.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,309 shares of the company's stock valued at $56,000 after acquiring an additional 1,640 shares during the period. Avanza Fonder AB purchased a new stake in shares of Verra Mobility in the fourth quarter valued at $74,000. Aster Capital Management DIFC Ltd raised its stake in shares of Verra Mobility by 585.1% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 4,720 shares of the company's stock valued at $114,000 after acquiring an additional 4,031 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in shares of Verra Mobility in the fourth quarter valued at $129,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Verra Mobility by 6.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,381 shares of the company's stock valued at $154,000 after acquiring an additional 409 shares during the period.

Insiders Place Their Bets

In other Verra Mobility 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 transaction of $454,497.32. Following the transaction, the insider now directly owns 1,179 shares in the company, valued at $28,626.12. This represents a 94.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.05% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on VRRM. UBS Group reduced their target price on shares of Verra Mobility from $31.50 to $29.50 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Morgan Stanley reduced their price target 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. Robert W. Baird raised their price target on shares of Verra Mobility from $27.00 to $28.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Finally, Baird R W raised shares of Verra Mobility from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $27.38.

Verra Mobility Trading Down 2.2%

VRRM stock traded down $0.53 during trading on Tuesday, hitting $23.78. The company had a trading volume of 748,585 shares, compared to its average volume of 1,171,439. The firm has a market capitalization of $3.80 billion, a P/E ratio of 39.63, a PEG ratio of 2.18 and a beta of 0.80. Verra Mobility Co. has a 52-week low of $19.51 and a 52-week high of $31.03. The company has a 50 day simple moving average of $21.69 and a 200-day simple moving average of $23.60. The company has a quick ratio of 2.52, a current ratio of 2.61 and a debt-to-equity ratio of 2.13.

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