Zurcher Kantonalbank Zurich Cantonalbank Sells 67,512 Shares of Nuvei Co. (NASDAQ:NVEI)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Nuvei Co. (NASDAQ:NVEI - Free Report) by 84.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,095 shares of the company's stock after selling 67,512 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Nuvei were worth $319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Psagot Value Holdings Ltd. Israel purchased a new stake in Nuvei during the third quarter valued at approximately $90,000. Raymond James & Associates purchased a new position in shares of Nuvei in the fourth quarter worth $339,000. Toronto Dominion Bank grew its holdings in shares of Nuvei by 114.9% during the third quarter. Toronto Dominion Bank now owns 21,227 shares of the company's stock valued at $318,000 after buying an additional 11,351 shares during the last quarter. Citigroup Inc. grew its stake in Nuvei by 2.6% during the 3rd quarter. Citigroup Inc. now owns 22,776 shares of the company's stock valued at $343,000 after purchasing an additional 576 shares during the last quarter. Finally, Addenda Capital Inc. lifted its holdings in shares of Nuvei by 37.8% during the fourth quarter. Addenda Capital Inc. now owns 27,438 shares of the company's stock worth $721,000 after purchasing an additional 7,530 shares during the period. Hedge funds and other institutional investors own 42.45% of the company's stock.

Nuvei Trading Up 0.3 %

Shares of NASDAQ:NVEI traded up $0.10 during trading on Monday, hitting $32.44. 818,863 shares of the stock were exchanged, compared to its average volume of 1,108,194. 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 fifty day moving average price of $29.34 and a two-hundred day moving average price of $24.71. Nuvei Co. has a 12-month low of $13.32 and a 12-month high of $42.50.

Nuvei (NASDAQ:NVEI - Get Free Report) last posted its earnings results on Tuesday, March 5th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.06. The firm had revenue of $321.52 million during the quarter, compared to the consensus estimate of $319.60 million. Nuvei had a negative net margin of 0.66% and a positive return on equity of 6.64%. On average, research analysts expect that Nuvei Co. will post 1.27 EPS for the current fiscal year.

Nuvei Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Tuesday, March 19th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.23%. Nuvei's dividend payout ratio (DPR) is -333.28%.

Wall Street Analyst Weigh In

NVEI has been the topic of several analyst reports. Raymond James raised their price target on shares of Nuvei from $27.00 to $30.00 and gave the company an "outperform" rating in a research report on Thursday, March 7th. Royal Bank of Canada boosted their price target on shares of Nuvei from $29.00 to $34.00 and gave the stock an "outperform" rating in a research report on Thursday, March 7th. Scotiabank reissued a "sector perform" rating and issued a $34.00 target price on shares of Nuvei in a research note on Tuesday, April 2nd. Wolfe Research reaffirmed a "peer perform" rating on shares of Nuvei in a report on Tuesday, April 2nd. Finally, The Goldman Sachs Group raised their target price on Nuvei from $21.00 to $30.00 and gave the stock a "neutral" rating in a research note on Thursday, January 11th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price 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.