Allspring Global Investments Holdings LLC Acquires Shares of 65,861 Verra Mobility Corp $VRRM

Allspring Global Investments Holdings LLC bought a new position in shares of Verra Mobility Corp (NASDAQ:VRRM) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 65,861 shares of the company’s stock, valued at approximately $1,602,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Verra Mobility by 155.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,280,591 shares of the company’s stock worth $118,866,000 after acquiring an additional 3,215,973 shares in the last quarter. Norges Bank acquired a new position in shares of Verra Mobility during the 2nd quarter worth about $49,577,000. Bessemer Group Inc. lifted its stake in Verra Mobility by 60,338.2% in the 2nd quarter. Bessemer Group Inc. now owns 1,130,799 shares of the company’s stock valued at $28,711,000 after buying an additional 1,128,928 shares in the last quarter. Man Group plc boosted its holdings in Verra Mobility by 93.3% in the 2nd quarter. Man Group plc now owns 1,157,292 shares of the company’s stock worth $29,384,000 after buying an additional 558,727 shares during the last quarter. Finally, William Blair Investment Management LLC increased its stake in Verra Mobility by 15.8% during the 2nd quarter. William Blair Investment Management LLC now owns 2,582,884 shares of the company’s stock worth $65,579,000 after buying an additional 352,942 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts have recently weighed in on VRRM shares. Weiss Ratings restated a “hold (c)” rating on shares of Verra Mobility in a research report on Monday, December 29th. Wall Street Zen raised Verra Mobility from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 20th. Finally, UBS Group lifted their target price on shares of Verra Mobility from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $28.00.

Verra Mobility Price Performance

Shares of VRRM stock opened at $23.19 on Friday. The company has a debt-to-equity ratio of 2.55, a current ratio of 2.45 and a quick ratio of 2.35. The company has a market capitalization of $3.70 billion, a PE ratio of 72.47, a price-to-earnings-growth ratio of 3.64 and a beta of 0.60. The firm’s 50-day moving average is $22.22 and its two-hundred day moving average is $23.79. Verra Mobility Corp has a 12 month low of $19.51 and a 12 month high of $27.20.

Verra Mobility (NASDAQ:VRRM) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.34 by $0.03. The firm had revenue of $261.94 million for the quarter, compared to analyst estimates of $237.68 million. Verra Mobility had a net margin of 5.42% and a return on equity of 60.72%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.32 EPS. Verra Mobility has set its FY 2025 guidance at 1.300-1.350 EPS. Analysts predict that Verra Mobility Corp will post 1.08 earnings per share for the current year.

About Verra Mobility

Verra Mobility, traded on the Nasdaq under the ticker VRRM, is a leading provider of smart mobility solutions designed to improve safety, efficiency and compliance for transportation authorities and commercial fleets. The company develops and operates automated traffic enforcement systems, toll and violation management platforms, and connected-vehicle services. Through its technology offerings, Verra Mobility helps public agencies enhance road safety, reduce congestion and streamline revenue collection for tolling and parking.

Verra Mobility’s core products include red-light and speed-camera enforcement programs, license plate recognition systems, and cloud-based violation processing software.