WCM Investment Management LLC Cuts Stock Position in Verra Mobility Corp $VRRM

WCM Investment Management LLC trimmed its position in shares of Verra Mobility Corp (NASDAQ:VRRM) by 12.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,605,944 shares of the company’s stock after selling 219,345 shares during the quarter. WCM Investment Management LLC owned about 1.01% of Verra Mobility worth $39,763,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. State of Wyoming increased its position in shares of Verra Mobility by 1.5% during the third quarter. State of Wyoming now owns 31,483 shares of the company’s stock worth $778,000 after purchasing an additional 454 shares in the last quarter. AlphaQuest LLC grew its stake in shares of Verra Mobility by 428.7% during the third quarter. AlphaQuest LLC now owns 50,835 shares of the company’s stock worth $1,256,000 after acquiring an additional 41,219 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Verra Mobility by 1.4% during the third quarter. Arizona State Retirement System now owns 47,158 shares of the company’s stock valued at $1,165,000 after acquiring an additional 632 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Verra Mobility by 2.4% in the 3rd quarter. New York State Common Retirement Fund now owns 601,241 shares of the company’s stock worth $14,851,000 after purchasing an additional 14,129 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its stake in Verra Mobility by 233.2% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 108,334 shares of the company’s stock worth $2,676,000 after purchasing an additional 75,822 shares in the last quarter.

Verra Mobility Stock Performance

NASDAQ:VRRM opened at $18.25 on Tuesday. Verra Mobility Corp has a fifty-two week low of $17.08 and a fifty-two week high of $26.89. The company has a debt-to-equity ratio of 2.55, a quick ratio of 2.35 and a current ratio of 2.45. The company has a fifty day moving average of $21.85 and a two-hundred day moving average of $23.32. The stock has a market capitalization of $2.91 billion, a PE ratio of 57.03, a P/E/G ratio of 3.05 and a beta of 0.59.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on VRRM shares. Wall Street Zen upgraded shares of Verra Mobility from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 20th. Weiss Ratings restated a “hold (c)” rating on shares of Verra Mobility in a research report on Monday, December 29th. JPMorgan Chase & Co. assumed coverage on Verra Mobility in a report on Monday, January 26th. They issued a “neutral” rating and a $25.00 price objective for the company. Finally, UBS Group lifted their price target on Verra Mobility from $29.00 to $31.00 and gave the company 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 stock. According to MarketBeat, Verra Mobility presently has a consensus rating of “Hold” and an average price target of $27.25.

About Verra Mobility

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.