Raymond James Financial Inc. Purchases Shares of 215,799 Verra Mobility Co. (NASDAQ:VRRM)

Raymond James Financial Inc. purchased a new stake in shares of Verra Mobility Co. (NASDAQ:VRRM - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 215,799 shares of the company's stock, valued at approximately $5,218,000. Raymond James Financial Inc. owned about 0.13% of Verra Mobility at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in VRRM. PNC Financial Services Group Inc. grew its stake in shares of Verra Mobility by 6.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,381 shares of the company's stock worth $154,000 after buying an additional 409 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in Verra Mobility by 2.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 18,308 shares of the company's stock worth $443,000 after acquiring an additional 448 shares during the last quarter. Tealwood Asset Management Inc. grew its position in Verra Mobility by 1.4% during the 4th quarter. Tealwood Asset Management Inc. now owns 44,230 shares of the company's stock worth $1,069,000 after acquiring an additional 592 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in Verra Mobility by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 28,645 shares of the company's stock worth $693,000 after purchasing an additional 725 shares in the last quarter. Finally, Xponance Inc. raised its position in Verra Mobility by 9.5% in the fourth quarter. Xponance Inc. now owns 11,865 shares of the company's stock valued at $287,000 after purchasing an additional 1,025 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on VRRM shares. Baird R W raised Verra Mobility from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. Morgan Stanley reduced their target price on shares of Verra Mobility from $25.00 to $23.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. Finally, Robert W. Baird raised shares of Verra Mobility from a "neutral" rating to an "outperform" rating and set a $27.00 price target for the company in a research note on Tuesday, April 22nd.

Verra Mobility Trading Up 1.7 %

Shares of VRRM stock traded up $0.37 on Tuesday, hitting $22.36. The company had a trading volume of 1,101,704 shares, compared to its average volume of 1,165,100. The stock's 50-day moving average is $22.05 and its two-hundred day moving average is $23.89. 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 firm has a market cap of $3.57 billion, a P/E ratio of 37.27, a P/E/G ratio of 2.18 and a beta of 0.91. Verra Mobility Co. has a twelve month low of $19.51 and a twelve month high of $31.03.

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.