Glenmede Trust Co. NA Reduces Position in Verra Mobility Co. (NASDAQ:VRRM)

Glenmede Trust Co. NA lessened its holdings in Verra Mobility Co. (NASDAQ:VRRM) by 0.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 783,240 shares of the company’s stock after selling 4,513 shares during the quarter. Glenmede Trust Co. NA owned approximately 0.48% of Verra Mobility worth $21,782,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VRRM. Handelsbanken Fonder AB increased its holdings in shares of Verra Mobility by 7.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 4,015,800 shares of the company’s stock valued at $111,679,000 after acquiring an additional 261,500 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Verra Mobility by 6.4% during the third quarter. Principal Financial Group Inc. now owns 3,756,352 shares of the company’s stock worth $104,464,000 after purchasing an additional 225,585 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in shares of Verra Mobility by 7.0% during the 2nd quarter. Westwood Holdings Group Inc. now owns 3,380,416 shares of the company’s stock worth $91,947,000 after buying an additional 221,385 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Verra Mobility by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,180,519 shares of the company’s stock valued at $86,512,000 after buying an additional 193,686 shares in the last quarter. Finally, WCM Investment Management LLC grew its position in shares of Verra Mobility by 3.3% in the 3rd quarter. WCM Investment Management LLC now owns 2,055,006 shares of the company’s stock valued at $57,150,000 after buying an additional 64,819 shares during the last quarter.

Wall Street Analyst Weigh In

VRRM has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Verra Mobility from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Morgan Stanley cut their target price on Verra Mobility from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 30th. Finally, Robert W. Baird dropped their price target on Verra Mobility from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st.

Verra Mobility Price Performance

Shares of NASDAQ:VRRM opened at $23.57 on Thursday. The company has a debt-to-equity ratio of 2.13, a quick ratio of 2.52 and a current ratio of 2.61. Verra Mobility Co. has a one year low of $19.67 and a one year high of $31.03. The company has a 50-day simple moving average of $25.74 and a 200-day simple moving average of $26.96. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of 39.28, a PEG ratio of 2.14 and a beta of 1.27.

Verra Mobility (NASDAQ:VRRM) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. Verra Mobility had a net margin of 11.64% and a return on equity of 38.97%. The company had revenue of $225.55 million for the quarter, compared to analysts’ expectations of $226.65 million. During the same period in the previous year, the company posted $0.27 EPS. Verra Mobility’s revenue was up 7.4% compared to the same quarter last year. On average, analysts predict that Verra Mobility Co. will post 1.08 EPS for the current 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.