Mon Oct 07 15:22:14 UTC 2024: ## Envestnet Asset Management Increases Stake in Verra Mobility

**Sioux Falls, SD** – Envestnet Asset Management Inc. has increased its stake in Verra Mobility Co. (NASDAQ:VRRM) by 15.4% during the second quarter, according to a recent filing with the Securities and Exchange Commission. The firm now owns 175,684 shares of the company’s stock, representing approximately 0.11% of Verra Mobility, valued at $4,779,000.

This move follows a trend of increased interest in Verra Mobility from other hedge funds. Vanguard Group Inc. grew its stake by 1.3% in the first quarter, while Price T Rowe Associates Inc. MD and Principal Financial Group Inc. increased their holdings by 5.0% and 3.8% respectively during the same period. Westwood Holdings Group Inc. also entered the fray, purchasing a new stake in the company valued at $78,881,000.

Verra Mobility, a provider of smart mobility technology solutions and services, recently reported strong second-quarter earnings, exceeding analysts’ expectations. The company posted earnings per share of $0.31, surpassing the consensus estimate of $0.30 by $0.01. Revenue also came in above forecasts, reaching $222.43 million compared to the estimated $220.32 million.

Verra Mobility’s stock price has fluctuated in recent months, closing at $27.33 on Wednesday after a decline of $0.28. Analysts have expressed optimism about the company’s future, with Morgan Stanley and Deutsche Bank Aktiengesellschaft both raising their price targets for the stock.

**Disclaimer:** This news article is based on publicly available information and should not be considered investment advice.

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