Comerica Bank Has $1.76 Million Stock Holdings in Verra Mobility Co. (NASDAQ:VRRM)

Comerica Bank lowered its position in shares of Verra Mobility Co. (NASDAQ:VRRM) by 1.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 72,562 shares of the company’s stock after selling 1,051 shares during the quarter. Comerica Bank’s holdings in Verra Mobility were worth $1,755,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its position in shares of Verra Mobility by 245.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,309 shares of the company’s stock worth $56,000 after purchasing an additional 1,640 shares in the last quarter. Avanza Fonder AB bought a new position in Verra Mobility during the 4th quarter worth $74,000. Aster Capital Management DIFC Ltd lifted its position in shares of Verra Mobility by 585.1% during the 4th 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 acquired a new stake in shares of Verra Mobility during the 4th quarter worth $129,000. Finally, PNC Financial Services Group Inc. increased its position 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 worth $154,000 after purchasing an additional 409 shares during the period.

Verra Mobility Price Performance

Shares of VRRM opened at $24.28 on Friday. Verra Mobility Co. has a 52 week low of $19.51 and a 52 week high of $31.03. The stock has a fifty day moving average of $21.64 and a 200-day moving average of $23.66. The company has a debt-to-equity ratio of 2.13, a quick ratio of 2.52 and a current ratio of 2.61. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of 40.47, a PEG ratio of 2.18 and a beta of 0.80.

Verra Mobility (NASDAQ:VRRM) last released its quarterly earnings data 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. Verra Mobility had a return on equity of 38.97% and a net margin of 11.64%. The company had revenue of $223.25 million during the quarter, compared to the consensus estimate of $216.94 million. During the same quarter in the prior year, the firm posted $0.27 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Verra Mobility Co. will post 1.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VRRM. UBS Group reduced their price objective 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. Morgan Stanley decreased their price objective 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 upped their target price on Verra Mobility from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Baird R W upgraded Verra Mobility from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target 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.