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

Verra Mobility (NASDAQ:VRRM) had its price target dropped by Morgan Stanley from $25.00 to $23.00 in a report released on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 9.68% from the stock’s previous close.

Verra Mobility Stock Down 0.3 %

NASDAQ:VRRM traded down $0.07 during midday trading on Thursday, hitting $20.97. 450,166 shares of the company were exchanged, compared to its average volume of 1,067,464. Verra Mobility has a fifty-two week low of $19.51 and a fifty-two week high of $31.03. The company has a market capitalization of $3.35 billion, a PE ratio of 34.95, a price-to-earnings-growth ratio of 2.18 and a beta of 1.30. The company has a current ratio of 2.61, a quick ratio of 2.52 and a debt-to-equity ratio of 2.13. The company has a fifty day simple moving average of $24.22 and a 200 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 company. JPMorgan Chase & Co. lifted its stake in Verra Mobility by 0.6% in the third quarter. JPMorgan Chase & Co. now owns 6,463,246 shares of the company’s stock valued at $179,743,000 after buying an additional 36,585 shares during the last quarter. Barclays PLC lifted its position in Verra Mobility by 400.2% in the third quarter. Barclays PLC now owns 294,457 shares of the company’s stock valued at $8,189,000 after purchasing an additional 235,589 shares during the period. State Street Corp grew its stake in shares of Verra Mobility by 6.0% during the 3rd quarter. State Street Corp now owns 6,301,131 shares of the company’s stock worth $175,234,000 after purchasing an additional 357,078 shares during the period. Citigroup Inc. increased its holdings in shares of Verra Mobility by 73.0% in the 3rd quarter. Citigroup Inc. now owns 222,910 shares of the company’s stock valued at $6,199,000 after purchasing an additional 94,073 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in shares of Verra Mobility by 179.2% in the third quarter. Stifel Financial Corp now owns 57,186 shares of the company’s stock valued at $1,590,000 after purchasing an additional 36,705 shares during the period.

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.