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

Verra Mobility (NASDAQ:VRRM) had its price objective trimmed by Morgan Stanley from $25.00 to $23.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Verra Mobility Stock Performance

Shares of NASDAQ VRRM opened at $20.19 on Thursday. The company has a debt-to-equity ratio of 2.13, a current ratio of 2.61 and a quick ratio of 2.52. Verra Mobility has a one year low of $19.51 and a one year high of $31.03. The business’s 50-day moving average price is $24.03 and its two-hundred day moving average price is $24.75. The company has a market capitalization of $3.22 billion, a P/E ratio of 33.65, a price-to-earnings-growth ratio of 2.18 and a beta of 1.30.

Institutional Trading of Verra Mobility

Institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. increased its stake in shares of Verra Mobility by 2,915.3% during the 4th quarter. American Century Companies Inc. now owns 2,086,049 shares of the company’s stock worth $50,441,000 after purchasing an additional 2,016,866 shares during the last quarter. Norges Bank acquired a new position in Verra Mobility during the fourth quarter worth $46,156,000. Sunriver Management LLC acquired a new position in Verra Mobility during the fourth quarter worth $33,503,000. Westwood Holdings Group Inc. raised its holdings 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 valued at $107,862,000 after buying an additional 994,775 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Verra Mobility by 13.2% in the third quarter. Wellington Management Group LLP now owns 8,065,795 shares of the company’s stock worth $224,310,000 after buying an additional 941,127 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.