Bank of New York Mellon Corp Has $22.47 Million Stock Position in Verra Mobility Corp (NASDAQ:VRRM)

Bank of New York Mellon Corp trimmed its holdings in shares of Verra Mobility Corp (NASDAQ:VRRM) by 4.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 998,166 shares of the company’s stock after selling 47,995 shares during the quarter. Bank of New York Mellon Corp owned 0.63% of Verra Mobility worth $22,469,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of VRRM. Aster Capital Management DIFC Ltd raised its position in Verra Mobility by 585.1% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 4,720 shares of the company’s stock valued at $114,000 after purchasing an additional 4,031 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Verra Mobility by 6.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,381 shares of the company’s stock worth $154,000 after purchasing an additional 409 shares in the last quarter. Headlands Technologies LLC purchased a new position in Verra Mobility in the 4th quarter worth approximately $228,000. Hancock Whitney Corp purchased a new position in Verra Mobility in the 4th quarter worth approximately $241,000. Finally, Oppenheimer Asset Management Inc. raised its stake in Verra Mobility by 32.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,451 shares of the company’s stock valued at $258,000 after buying an additional 2,823 shares during the last quarter.

Verra Mobility Stock Performance

NASDAQ:VRRM opened at $24.87 on Friday. Verra Mobility Corp has a twelve month low of $19.51 and a twelve month high of $31.03. The company has a market capitalization of $3.97 billion, a P/E ratio of 124.35, a price-to-earnings-growth ratio of 2.40 and a beta of 0.77. The firm has a 50-day moving average price of $24.44 and a two-hundred day moving average price of $23.82. The company has a current ratio of 2.19, a quick ratio of 2.10 and a debt-to-equity ratio of 3.45.

Verra Mobility (NASDAQ:VRRM) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. The firm had revenue of $223.25 million for the quarter, compared to analysts’ expectations of $216.94 million. Verra Mobility had a net margin of 3.88% and a return on equity of 51.05%. Verra Mobility’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 earnings per share. As a group, research analysts expect that Verra Mobility Corp will post 1.08 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Jonathan Keyser sold 18,719 shares of the business’s stock in a transaction on Friday, May 9th. The shares were sold at an average price of $24.28, for a total transaction of $454,497.32. Following the completion of the transaction, the insider owned 1,179 shares of the company’s stock, valued at approximately $28,626.12. The trade was a 94.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.05% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on VRRM shares. Robert W. Baird upped their target price on shares of Verra Mobility from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Wall Street Zen upgraded shares of Verra Mobility from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 12th. Morgan Stanley reduced their target price on shares of Verra Mobility from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Thursday, March 27th. UBS Group dropped their target price on shares of Verra Mobility from $31.50 to $29.50 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Finally, Baird R W raised shares of Verra Mobility from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Verra Mobility has a consensus rating of “Buy” and a consensus price target of $27.38.

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.