State Street Corp Acquires 357,078 Shares of Verra Mobility Co. (NASDAQ:VRRM)

State Street Corp grew its position in shares of Verra Mobility Co. (NASDAQ:VRRM - Free Report) by 6.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,301,131 shares of the company's stock after buying an additional 357,078 shares during the quarter. State Street Corp owned 3.82% of Verra Mobility worth $175,234,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crossmark Global Holdings Inc. increased its holdings in shares of Verra Mobility by 1.5% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 27,283 shares of the company's stock worth $742,000 after purchasing an additional 391 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Verra Mobility by 10.3% during the 3rd quarter. US Bancorp DE now owns 4,478 shares of the company's stock valued at $125,000 after acquiring an additional 418 shares during the last quarter. Signaturefd LLC grew its stake in shares of Verra Mobility by 112.4% in the third quarter. Signaturefd LLC now owns 1,060 shares of the company's stock worth $29,000 after acquiring an additional 561 shares during the period. RiverPark Advisors LLC raised its holdings in shares of Verra Mobility by 3.5% during the third quarter. RiverPark Advisors LLC now owns 19,217 shares of the company's stock valued at $534,000 after purchasing an additional 642 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in Verra Mobility by 27.5% in the third quarter. Blue Trust Inc. now owns 3,219 shares of the company's stock worth $88,000 after purchasing an additional 694 shares during the last quarter.

Analyst Ratings Changes

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

Verra Mobility Stock Performance

VRRM traded down $0.07 during midday trading on Friday, reaching $23.94. The company had a trading volume of 347,780 shares, compared to its average volume of 1,090,157. Verra Mobility Co. has a 1 year low of $20.26 and a 1 year high of $31.03. The company has a market cap of $3.95 billion, a P/E ratio of 40.02, a P/E/G ratio of 2.12 and a beta of 1.23. The business has a 50-day moving average of $24.82 and a two-hundred day moving average of $26.66. 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 - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, hitting analysts' consensus estimates of $0.32. Verra Mobility had a return on equity of 38.97% and a net margin of 11.64%. The firm had revenue of $225.55 million during the quarter, compared to analyst estimates of $226.65 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. The business's quarterly revenue was up 7.4% compared to the same quarter last year. As a group, equities research analysts predict that Verra Mobility Co. will post 1.08 earnings per share for the current fiscal 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.