Wells Fargo & Company MN Purchases 13,236 Shares of Verra Mobility Co. (NASDAQ:VRRM)

Wells Fargo & Company MN lifted its position in shares of Verra Mobility Co. (NASDAQ:VRRM - Free Report) by 7.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 197,604 shares of the company's stock after buying an additional 13,236 shares during the quarter. Wells Fargo & Company MN owned about 0.12% of Verra Mobility worth $4,778,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Smartleaf Asset Management LLC raised its stake in Verra Mobility by 245.1% in the 4th 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 in the last quarter. Avanza Fonder AB acquired a new stake in shares of Verra Mobility in the fourth quarter valued at approximately $74,000. Arcadia Investment Management Corp MI bought a new stake in shares of Verra Mobility in the fourth quarter valued at approximately $129,000. PNC Financial Services Group Inc. grew its position in 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 in the last quarter. Finally, KBC Group NV raised its holdings in Verra Mobility by 61.9% in the 4th quarter. KBC Group NV now owns 7,090 shares of the company's stock valued at $171,000 after acquiring an additional 2,710 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on VRRM shares. Morgan Stanley decreased their price target on Verra Mobility from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 27th. Baird R W upgraded Verra Mobility from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Finally, Robert W. Baird raised Verra Mobility from a "neutral" rating to an "outperform" rating and set a $27.00 target price on the stock in a report on Tuesday.

Verra Mobility Price Performance

Shares of VRRM traded down $0.19 during mid-day trading on Friday, reaching $21.90. The company had a trading volume of 627,053 shares, compared to its average volume of 1,158,902. The company's 50 day simple moving average is $22.23 and its 200 day simple moving average is $24.01. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 36.50, a P/E/G ratio of 2.18 and a beta of 0.91. Verra Mobility Co. has a 1-year low of $19.51 and a 1-year high of $31.03. The company has a debt-to-equity ratio of 2.13, a quick ratio of 2.52 and a current ratio of 2.61.

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.