Raymond James Financial Inc. Has $4.33 Million Position in Verra Mobility Corp $VRRM

Raymond James Financial Inc. reduced its stake in Verra Mobility Corp (NASDAQ:VRRM) by 11.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 192,165 shares of the company’s stock after selling 23,634 shares during the quarter. Raymond James Financial Inc.’s holdings in Verra Mobility were worth $4,326,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its stake in shares of Verra Mobility by 13,638.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,786 shares of the company’s stock worth $40,000 after buying an additional 1,773 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Verra Mobility by 18.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,542 shares of the company’s stock worth $170,000 after acquiring an additional 1,161 shares during the last quarter. US Bancorp DE lifted its position in Verra Mobility by 76.6% during 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 during the last quarter. Jefferies Financial Group Inc. acquired a new position in Verra Mobility during the 1st quarter worth $224,000. Finally, Oppenheimer Asset Management Inc. lifted its position in Verra Mobility by 32.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,451 shares of the company’s stock worth $258,000 after acquiring an additional 2,823 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Robert W. Baird boosted their price objective on Verra Mobility from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, August 21st. Wall Street Zen cut Verra Mobility from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Verra Mobility has a consensus rating of “Buy” and a consensus target price of $27.88.

Verra Mobility Trading Down 0.6%

Verra Mobility stock opened at $24.86 on Friday. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of 103.59, a price-to-earnings-growth ratio of 2.92 and a beta of 0.80. 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 Corp has a 12 month low of $19.51 and a 12 month high of $28.25. The business has a 50 day moving average price of $24.84 and a two-hundred day moving average price of $23.58.

Verra Mobility (NASDAQ:VRRM) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.34 earnings per share (EPS) for the quarter, beating 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%.Verra Mobility’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 earnings per share. As a group, 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.