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

JPMorgan Chase & Co. increased its position in shares of Verra Mobility Corp (NASDAQ:VRRM) by 4.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,223,576 shares of the company’s stock after purchasing an additional 281,465 shares during the quarter. JPMorgan Chase & Co. owned 3.90% of Verra Mobility worth $153,722,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in VRRM. American Century Companies Inc. raised its holdings in shares of Verra Mobility by 11.2% during the second quarter. American Century Companies Inc. now owns 2,570,738 shares of the company’s stock worth $65,271,000 after purchasing an additional 259,330 shares during the period. Sunriver Management LLC grew its position in shares of Verra Mobility by 7.5% during the 2nd quarter. Sunriver Management LLC now owns 2,064,798 shares of the company’s stock valued at $52,425,000 after buying an additional 144,403 shares during the last quarter. Norges Bank bought a new stake in shares of Verra Mobility during the 2nd quarter valued at about $49,577,000. Franklin Resources Inc. raised its stake in Verra Mobility by 22.6% during the second quarter. Franklin Resources Inc. now owns 1,701,636 shares of the company’s stock worth $43,205,000 after acquiring an additional 313,449 shares during the period. Finally, Palisade Capital Management LP lifted its holdings in Verra Mobility by 4.5% in the second quarter. Palisade Capital Management LP now owns 1,463,945 shares of the company’s stock worth $37,170,000 after acquiring an additional 62,495 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on VRRM. Wall Street Zen upgraded Verra Mobility from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 20th. JPMorgan Chase & Co. started coverage on Verra Mobility in a report on Monday, January 26th. They issued a “neutral” rating and a $25.00 price target on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Verra Mobility in a research note on Monday, December 29th. Finally, UBS Group increased their target price on Verra Mobility from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Verra Mobility has an average rating of “Hold” and an average target price of $27.25.

Verra Mobility Stock Performance

Shares of NASDAQ VRRM opened at $18.94 on Friday. Verra Mobility Corp has a 12-month low of $17.08 and a 12-month high of $26.47. The company has a market cap of $3.02 billion, a PE ratio of 59.19, a P/E/G ratio of 2.99 and a beta of 0.59. The stock has a 50 day simple moving average of $20.98 and a 200-day simple moving average of $22.71. The company has a current ratio of 2.45, a quick ratio of 2.35 and a debt-to-equity ratio of 2.55.

Verra Mobility 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.