Perpetual Ltd Sells 109,455 Shares of Verra Mobility Corp (NASDAQ:VRRM)

Perpetual Ltd reduced its stake in shares of Verra Mobility Corp (NASDAQ:VRRM) by 40.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,443 shares of the company’s stock after selling 109,455 shares during the period. Perpetual Ltd’s holdings in Verra Mobility were worth $3,679,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Smartleaf Asset Management LLC increased 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 worth $56,000 after purchasing an additional 1,640 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Verra Mobility by 6.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,822,236 shares of the company’s stock worth $44,062,000 after purchasing an additional 102,575 shares during the period. Cornerstone Investment Partners LLC increased its stake in shares of Verra Mobility by 39.3% in the fourth quarter. Cornerstone Investment Partners LLC now owns 20,818 shares of the company’s stock worth $503,000 after purchasing an additional 5,871 shares during the period. Aigen Investment Management LP bought a new position in shares of Verra Mobility in the fourth quarter worth about $303,000. Finally, Raymond James Financial Inc. bought a new position in shares of Verra Mobility in the fourth quarter worth about $5,218,000.

Insider Activity at Verra Mobility

In other news, insider Jonathan Keyser sold 18,719 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The stock was 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 in the company, valued at approximately $28,626.12. This represents a 94.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on VRRM. Baird R W upgraded Verra Mobility from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 22nd. UBS Group dropped their price objective on 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 dropped their price objective on 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. Finally, Robert W. Baird boosted their price target on Verra Mobility from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. One 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $27.38.

Verra Mobility Trading Up 0.4%

Shares of VRRM opened at $25.40 on Friday. Verra Mobility Corp has a 12-month low of $19.51 and a 12-month high of $31.03. The company has a quick ratio of 2.10, a current ratio of 2.19 and a debt-to-equity ratio of 3.45. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of 127.00, a P/E/G ratio of 2.43 and a beta of 0.76. The stock’s 50-day moving average price is $23.60 and its 200 day moving average price is $23.69.

Verra Mobility (NASDAQ:VRRM) last issued 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. Verra Mobility had a return on equity of 51.05% and a net margin of 3.88%. The firm had revenue of $223.25 million for the quarter, compared to analyst estimates of $216.94 million. During the same period in the previous year, the company posted $0.27 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, research analysts predict that Verra Mobility Corp will post 1.08 earnings per share 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.