Raymond James Financial Services Advisors Inc. Invests $720,000 in Verra Mobility Co. (NASDAQ:VRRM)

Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Verra Mobility Co. (NASDAQ:VRRM – Get Rating) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 46,823 shares of the company’s stock, valued at approximately $720,000.

Other institutional investors have also bought and sold shares of the company. Darlington Partners Capital Management LP increased its stake in Verra Mobility by 7.6% during the 2nd quarter. Darlington Partners Capital Management LP now owns 11,791,189 shares of the company’s stock valued at $185,240,000 after buying an additional 837,274 shares during the period. BlackRock Inc. boosted its stake in Verra Mobility by 3.5% during the 1st quarter. BlackRock Inc. now owns 9,741,503 shares of the company’s stock valued at $158,592,000 after purchasing an additional 329,023 shares in the last quarter. State Street Corp increased its position in shares of Verra Mobility by 4.9% during the 2nd quarter. State Street Corp now owns 3,006,694 shares of the company’s stock valued at $47,235,000 after purchasing an additional 141,641 shares during the period. WCM Investment Management LLC raised its stake in shares of Verra Mobility by 0.8% in the 3rd quarter. WCM Investment Management LLC now owns 2,157,016 shares of the company’s stock worth $33,585,000 after buying an additional 17,955 shares in the last quarter. Finally, Blue Grotto Capital LLC acquired a new stake in shares of Verra Mobility in the first quarter valued at $20,964,000.

Verra Mobility Stock Performance

Shares of NASDAQ VRRM opened at $15.49 on Tuesday. The stock’s fifty day simple moving average is $14.57 and its 200 day simple moving average is $15.55. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 32.27 and a beta of 1.17. The company has a quick ratio of 1.86, a current ratio of 1.97 and a debt-to-equity ratio of 6.18. Verra Mobility Co. has a 52-week low of $12.70 and a 52-week high of $18.13.

Verra Mobility (NASDAQ:VRRM – Get Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $197.66 million for the quarter, compared to analysts’ expectations of $195.64 million. Verra Mobility had a return on equity of 60.95% and a net margin of 11.48%. As a group, sell-side analysts forecast that Verra Mobility Co. will post 0.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on VRRM shares. Credit Suisse Group lowered their target price on Verra Mobility from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Tuesday, November 8th. Morgan Stanley lowered their price objective on shares of Verra Mobility from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 3rd. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Verra Mobility presently has a consensus rating of “Hold” and a consensus price target of $17.75.

Verra Mobility Company Profile

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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 Government Solutions segment offers automated safety solutions, including services and technologies that enable photo enforcement through road safety camera programs, which detects and process traffic violations related to red light, speed, school bus, and city bus lanes.