Verra Mobility Corp $VRRM Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in Verra Mobility Corp (NASDAQ:VRRM) by 4.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,223,576 shares of the company’s stock after acquiring an additional 281,465 shares during the quarter. JPMorgan Chase & Co.’s holdings in Verra Mobility were worth $153,722,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State of New Jersey Common Pension Fund D boosted its holdings in shares of Verra Mobility by 9.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 86,466 shares of the company’s stock valued at $2,136,000 after acquiring an additional 7,197 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Verra Mobility by 66.8% in the third quarter. PNC Financial Services Group Inc. now owns 12,380 shares of the company’s stock worth $306,000 after purchasing an additional 4,958 shares during the period. Public Sector Pension Investment Board lifted its position in Verra Mobility by 14.5% in the third quarter. Public Sector Pension Investment Board now owns 622,345 shares of the company’s stock worth $15,372,000 after purchasing an additional 78,835 shares during the period. Smartleaf Asset Management LLC boosted its stake in Verra Mobility by 14.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 3,922 shares of the company’s stock valued at $97,000 after purchasing an additional 508 shares in the last quarter. Finally, Renaissance Group LLC increased its position in shares of Verra Mobility by 9.3% during the 3rd quarter. Renaissance Group LLC now owns 330,685 shares of the company’s stock valued at $8,168,000 after purchasing an additional 28,075 shares during the period.

Verra Mobility Trading Up 2.7%

NASDAQ:VRRM opened at $18.94 on Friday. The stock has a fifty day simple moving average of $20.98 and a 200 day simple moving average of $22.71. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 59.19, a price-to-earnings-growth ratio of 2.99 and a beta of 0.59. Verra Mobility Corp has a 1-year low of $17.08 and a 1-year high of $26.47. The company has a quick ratio of 2.35, a current ratio of 2.45 and a debt-to-equity ratio of 2.55.

Analysts Set New Price Targets

VRRM has been the subject of several research analyst reports. Wall Street Zen upgraded Verra Mobility from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Verra Mobility in a report on Monday, December 29th. JPMorgan Chase & Co. began coverage on shares of Verra Mobility in a research report on Monday, January 26th. They set a “neutral” rating and a $25.00 price objective for the company. Finally, UBS Group lifted their price objective 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. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Verra Mobility presently has a consensus rating of “Hold” and an average target price of $27.25.

Verra Mobility Company Profile

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.