Wellington Management Group LLP Acquires 386,760 Shares of Verra Mobility Corp $VRRM

Wellington Management Group LLP boosted its holdings in shares of Verra Mobility Corp (NASDAQ:VRRM) by 5.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,922,473 shares of the company’s stock after buying an additional 386,760 shares during the quarter. Wellington Management Group LLP’s holdings in Verra Mobility were worth $178,335,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of VRRM. Caitong International Asset Management Co. Ltd boosted its position in Verra Mobility by 13,638.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,786 shares of the company’s stock valued at $40,000 after acquiring an additional 1,773 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of 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 purchasing an additional 1,161 shares during the last quarter. US Bancorp DE boosted its position in Verra Mobility by 76.6% during the first quarter. US Bancorp DE now owns 7,782 shares of the company’s stock valued at $175,000 after purchasing an additional 3,376 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in Verra Mobility in the first quarter valued at about $224,000. Finally, Hancock Whitney Corp purchased a new position in Verra Mobility in the fourth quarter valued at about $241,000.

Analyst Ratings Changes

VRRM has been the subject of several analyst reports. Robert W. Baird increased their price target on shares of Verra Mobility from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Wall Street Zen cut shares of Verra Mobility from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 26th. Finally, UBS Group lowered their target price 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 analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $27.38.

Verra Mobility Stock Performance

VRRM opened at $24.38 on Thursday. The company has a market cap of $3.89 billion, a P/E ratio of 101.59, a price-to-earnings-growth ratio of 2.83 and a beta of 0.79. The company has a quick ratio of 2.21, a current ratio of 2.28 and a debt-to-equity ratio of 2.93. The firm’s 50-day moving average price is $24.73 and its 200-day moving average price is $23.68. Verra Mobility Corp has a 52-week low of $19.51 and a 52-week high of $28.25.

Verra Mobility (NASDAQ:VRRM) last released its earnings results on Wednesday, August 6th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Verra Mobility had a net margin of 4.30% and a return on equity of 55.14%. The company had revenue of $236.03 million during the quarter, compared to analysts’ expectations of $232.78 million. During the same period last year, the business earned $0.31 EPS. Verra Mobility’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities analysts anticipate that Verra Mobility Corp will post 1.08 EPS 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.