State of New Jersey Common Pension Fund D Purchases New Position in Nuvei Co. (NASDAQ:NVEI)

State of New Jersey Common Pension Fund D purchased a new stake in shares of Nuvei Co. (NASDAQ:NVEI - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 74,472 shares of the company's stock, valued at approximately $1,956,000. State of New Jersey Common Pension Fund D owned about 0.05% of Nuvei at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of NVEI. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Nuvei in the fourth quarter worth approximately $30,845,000. Wellington Management Group LLP grew its holdings in shares of Nuvei by 12.8% in the third quarter. Wellington Management Group LLP now owns 7,616,542 shares of the company's stock worth $114,248,000 after purchasing an additional 865,984 shares during the last quarter. Sylebra Capital LLC bought a new position in shares of Nuvei in the third quarter worth approximately $8,095,000. Tyche Wealth Partners LLC bought a new position in shares of Nuvei in the fourth quarter worth approximately $6,830,000. Finally, Barclays PLC grew its holdings in shares of Nuvei by 2,516.2% in the third quarter. Barclays PLC now owns 265,514 shares of the company's stock worth $3,983,000 after purchasing an additional 255,365 shares during the last quarter. 42.45% of the stock is currently owned by institutional investors.

Nuvei Stock Performance

Shares of NVEI stock traded up $0.14 during trading hours on Thursday, reaching $32.33. 895,585 shares of the company traded hands, compared to its average volume of 1,115,554. Nuvei Co. has a 12-month low of $13.32 and a 12-month high of $42.50. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $4.51 billion, a P/E ratio of -538.74, a P/E/G ratio of 1.51 and a beta of 2.59. The firm has a 50-day moving average price of $29.20 and a 200 day moving average price of $24.47.

Nuvei (NASDAQ:NVEI - Get Free Report) last posted its quarterly earnings data on Tuesday, March 5th. The company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.06. Nuvei had a positive return on equity of 6.64% and a negative net margin of 0.66%. The firm had revenue of $321.52 million for the quarter, compared to analysts' expectations of $319.60 million. As a group, sell-side analysts predict that Nuvei Co. will post 1.27 earnings per share for the current fiscal year.

Nuvei Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Tuesday, March 19th were issued a $0.10 dividend. The ex-dividend date was Monday, March 18th. This represents a $0.40 dividend on an annualized basis and a yield of 1.24%. Nuvei's dividend payout ratio is presently -333.28%.

Wall Street Analysts Forecast Growth

NVEI has been the subject of a number of research analyst reports. Scotiabank reaffirmed a "sector perform" rating and issued a $34.00 price target on shares of Nuvei in a research note on Tuesday, April 2nd. National Bankshares raised their price objective on Nuvei from $23.00 to $30.00 and gave the company an "outperform" rating in a research report on Friday, January 26th. Canaccord Genuity Group reduced their price target on Nuvei from $40.00 to $34.00 and set a "buy" rating for the company in a report on Tuesday, April 2nd. Royal Bank of Canada raised their price target on Nuvei from $29.00 to $34.00 and gave the company an "outperform" rating in a report on Thursday, March 7th. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and set a $34.00 price target (up from $31.00) on shares of Nuvei in a report on Tuesday, April 2nd. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Nuvei currently has an average rating of "Moderate Buy" and an average price target of $31.94.

About Nuvei

Nuvei Corporation provides payment technology solutions to merchants and partners in North America, Europe, the Middle East and Africa, Latin America, and the Asia Pacific. The company's platform enables customers to pay and/or accept payments worldwide regardless of the location, device, or preferred payment method.