DekaBank Deutsche Girozentrale Purchases Shares of 160,800 Verra Mobility Co. (NASDAQ:VRRM)

DekaBank Deutsche Girozentrale purchased a new stake in shares of Verra Mobility Co. (NASDAQ:VRRM) in the second quarter, HoldingsChannel reports. The institutional investor purchased 160,800 shares of the company’s stock, valued at approximately $4,378,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VRRM. Westwood Holdings Group Inc. bought a new position in Verra Mobility during the 1st quarter valued at $78,881,000. Swedbank AB bought a new position in Verra Mobility during the 1st quarter valued at $26,218,000. Norges Bank bought a new stake in shares of Verra Mobility during the 4th quarter worth $21,740,000. Lazard Asset Management LLC boosted its stake in shares of Verra Mobility by 244.0% during the 1st quarter. Lazard Asset Management LLC now owns 1,309,245 shares of the company’s stock worth $32,691,000 after acquiring an additional 928,597 shares in the last quarter. Finally, Summit Creek Advisors LLC bought a new stake in shares of Verra Mobility during the 2nd quarter worth $10,370,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price objective on Verra Mobility from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Morgan Stanley raised their price objective on Verra Mobility from $22.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 6th.

Verra Mobility Stock Performance

Shares of Verra Mobility stock opened at $26.99 on Wednesday. The stock has a market cap of $4.49 billion, a PE ratio of 53.98, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The business has a fifty day simple moving average of $28.24 and a 200-day simple moving average of $26.42. The company has a quick ratio of 2.47, a current ratio of 2.57 and a debt-to-equity ratio of 2.36. Verra Mobility Co. has a 12 month low of $18.49 and a 12 month high of $31.03.

Verra Mobility (NASDAQ:VRRM) last issued its earnings results on Thursday, August 8th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. The business had revenue of $222.43 million during the quarter, compared to analysts’ expectations of $220.32 million. Verra Mobility had a return on equity of 39.89% and a net margin of 11.34%. Verra Mobility’s revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 earnings per share. On average, sell-side analysts anticipate that Verra Mobility Co. will post 1.07 EPS for the current fiscal year.

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.