Victory Capital Management Inc. Lowers Stake in Verra Mobility Co. (NASDAQ:VRRM)

Victory Capital Management Inc. decreased its position in Verra Mobility Co. (NASDAQ:VRRM) by 4.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 249,229 shares of the company’s stock after selling 12,707 shares during the period. Victory Capital Management Inc. owned 0.15% of Verra Mobility worth $6,931,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Fiera Capital Corp bought a new position in shares of Verra Mobility during the 3rd quarter worth approximately $33,905,000. Swedbank AB purchased a new position in shares of Verra Mobility in the 1st quarter valued at approximately $26,218,000. Lazard Asset Management LLC boosted its stake in Verra Mobility by 244.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,309,245 shares of the company’s stock worth $32,691,000 after purchasing an additional 928,597 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Verra Mobility by 62.9% in the 3rd quarter. New York State Common Retirement Fund now owns 1,152,330 shares of the company’s stock worth $32,046,000 after purchasing an additional 444,911 shares in the last quarter. Finally, Summit Creek Advisors LLC purchased a new stake in Verra Mobility during the 2nd quarter worth approximately $10,370,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Verra Mobility from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Robert W. Baird dropped their target price on Verra Mobility from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Finally, Morgan Stanley decreased their price objective on shares of Verra Mobility from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 30th.

Verra Mobility Stock Performance

Shares of VRRM stock opened at $23.19 on Friday. Verra Mobility Co. has a 52-week low of $19.63 and a 52-week high of $31.03. The stock has a market cap of $3.82 billion, a PE ratio of 38.65, a price-to-earnings-growth ratio of 2.05 and a beta of 1.27. The business has a 50-day simple moving average of $25.94 and a 200-day simple moving average of $27.02. 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) last posted its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $225.55 million during the quarter, compared to analysts’ expectations of $226.65 million. Verra Mobility had a net margin of 11.64% and a return on equity of 38.97%. The business’s revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.27 EPS. On average, equities analysts expect that Verra Mobility Co. will post 1.08 EPS for the current year.

About Verra Mobility

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.