Verra Mobility (NASDAQ:VRRM) Price Target Lowered to $23.00 at Morgan Stanley

Verra Mobility (NASDAQ:VRRM) had its price objective reduced by stock analysts at Morgan Stanley from $25.00 to $23.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 9.68% from the company’s previous close.

Verra Mobility Price Performance

Shares of VRRM traded down $0.07 during mid-day trading on Thursday, reaching $20.97. 450,166 shares of the company’s stock were exchanged, compared to its average volume of 1,067,464. The company has a quick ratio of 2.52, a current ratio of 2.61 and a debt-to-equity ratio of 2.13. Verra Mobility has a 52-week low of $19.51 and a 52-week high of $31.03. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 34.95, a PEG ratio of 2.18 and a beta of 1.30. The company has a 50-day simple moving average of $24.22 and a two-hundred day simple moving average of $24.84.

Institutional Trading of Verra Mobility

A number of large investors have recently made changes to their positions in the stock. American Century Companies Inc. raised its stake in Verra Mobility by 2,915.3% in the 4th quarter. American Century Companies Inc. now owns 2,086,049 shares of the company’s stock valued at $50,441,000 after purchasing an additional 2,016,866 shares during the last quarter. Norges Bank acquired a new position in shares of Verra Mobility in the fourth quarter valued at approximately $46,156,000. Sunriver Management LLC purchased a new position in shares of Verra Mobility during the fourth quarter valued at approximately $33,503,000. Westwood Holdings Group Inc. boosted its position in Verra Mobility by 28.7% during the fourth quarter. Westwood Holdings Group Inc. now owns 4,460,793 shares of the company’s stock worth $107,862,000 after acquiring an additional 994,775 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Verra Mobility by 13.2% during the third quarter. Wellington Management Group LLP now owns 8,065,795 shares of the company’s stock worth $224,310,000 after acquiring an additional 941,127 shares during the last quarter.

Verra Mobility Company 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.