Morgan Stanley Raises Verra Mobility (NASDAQ:VRRM) Price Target to $27.00

Verra Mobility (NASDAQ:VRRM) had its price objective lifted by Morgan Stanley from $22.00 to $27.00 in a research report released on Tuesday, Benzinga reports. They currently have an equal weight rating on the stock.

Verra Mobility Stock Performance

Shares of VRRM opened at $27.66 on Tuesday. The firm has a market cap of $4.61 billion, a P/E ratio of 55.32, a PEG ratio of 2.03 and a beta of 1.27. Verra Mobility has a twelve month low of $17.04 and a twelve month high of $31.03. The company has a debt-to-equity ratio of 2.31, a quick ratio of 2.64 and a current ratio of 2.75. The firm’s 50 day moving average price is $27.97 and its two-hundred day moving average price is $25.50.

Insider Activity at Verra Mobility

In other Verra Mobility news, EVP Jonathan Baldwin sold 9,758 shares of Verra Mobility stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $26.14, for a total value of $255,074.12. Following the sale, the executive vice president now owns 7,673 shares of the company’s stock, valued at approximately $200,572.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director John H. Rexford sold 9,005 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $26.37, for a total value of $237,461.85. Following the sale, the director now owns 41,275 shares of the company’s stock, valued at $1,088,421.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Jonathan Baldwin sold 9,758 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $26.14, for a total transaction of $255,074.12. Following the completion of the transaction, the executive vice president now directly owns 7,673 shares of the company’s stock, valued at approximately $200,572.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,993 shares of company stock valued at $736,974. 0.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Westwood Holdings Group Inc. bought a new stake in shares of Verra Mobility during the 1st quarter worth about $78,881,000. Principal Financial Group Inc. boosted its holdings in shares of Verra Mobility by 67.0% during the fourth quarter. Principal Financial Group Inc. now owns 3,676,017 shares of the company’s stock worth $84,659,000 after acquiring an additional 1,474,740 shares during the period. Swedbank AB bought a new stake in shares of Verra Mobility during the first quarter worth approximately $26,218,000. Norges Bank bought a new position in shares of Verra Mobility during the fourth quarter worth approximately $21,740,000. Finally, Lazard Asset Management LLC lifted its holdings in 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 purchasing an additional 928,597 shares during the last quarter.

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.