Phocas Financial Corp. Has $7 Million Stake in Verra Mobility Corp $VRRM

Phocas Financial Corp. grew its holdings in shares of Verra Mobility Corp (NASDAQ:VRRM) by 17.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 275,563 shares of the company’s stock after purchasing an additional 40,153 shares during the period. Phocas Financial Corp. owned about 0.17% of Verra Mobility worth $6,997,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Homestead Advisers Corp boosted its stake in shares of Verra Mobility by 17.3% in the second quarter. Homestead Advisers Corp now owns 109,200 shares of the company’s stock valued at $2,773,000 after buying an additional 16,100 shares during the period. Huntington National Bank increased its stake in Verra Mobility by 18.5% during the 2nd quarter. Huntington National Bank now owns 5,834 shares of the company’s stock worth $148,000 after acquiring an additional 912 shares during the period. Bank of New York Mellon Corp raised its holdings in Verra Mobility by 27.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,271,864 shares of the company’s stock valued at $32,293,000 after acquiring an additional 273,698 shares in the last quarter. Motley Fool Asset Management LLC lifted its position in shares of Verra Mobility by 36.0% during the 2nd quarter. Motley Fool Asset Management LLC now owns 106,396 shares of the company’s stock valued at $2,701,000 after acquiring an additional 28,136 shares during the period. Finally, Peregrine Capital Management LLC grew its holdings in shares of Verra Mobility by 1.7% during the 2nd quarter. Peregrine Capital Management LLC now owns 569,396 shares of the company’s stock worth $14,457,000 after purchasing an additional 9,487 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts recently commented on VRRM shares. Robert W. Baird raised their price target on Verra Mobility from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, August 21st. Weiss Ratings reissued a “hold (c-)” rating on shares of Verra Mobility in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Verra Mobility from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Finally, UBS Group raised their target price on Verra Mobility from $29.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Verra Mobility presently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

Verra Mobility Stock Performance

Shares of VRRM stock opened at $22.78 on Thursday. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 71.19, a PEG ratio of 2.79 and a beta of 0.77. The company has a current ratio of 2.28, a quick ratio of 2.21 and a debt-to-equity ratio of 2.93. The business’s 50-day moving average price is $24.26 and its 200-day moving average price is $24.20. Verra Mobility Corp has a 12 month low of $19.51 and a 12 month high of $27.20.

Verra Mobility (NASDAQ:VRRM) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. The business had revenue of $261.94 million during the quarter, compared to analyst estimates of $237.68 million. Verra Mobility had a net margin of 5.42% and a return on equity of 65.57%. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the business earned $0.32 EPS. Verra Mobility has set its FY 2025 guidance at 1.300-1.350 EPS. Equities research analysts forecast that Verra Mobility Corp will post 1.08 EPS for the current year.

Verra Mobility Profile

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.