Nuvei (NASDAQ:NVEI) Sees Large Volume Increase

Shares of Nuvei Co. (NASDAQ:NVEI - Get Free Report) saw strong trading volume on Tuesday . 1,427,503 shares were traded during trading, an increase of 77% from the previous session's volume of 805,632 shares.The stock last traded at $32.25 and had previously closed at $32.41.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NVEI. National Bankshares increased their target price on shares of Nuvei from $23.00 to $30.00 and gave the company an "outperform" rating in a research report on Friday, January 26th. JPMorgan Chase & Co. raised their price objective on shares of Nuvei from $27.00 to $32.00 and gave the company an "overweight" rating in a research note on Monday, December 18th. Barclays assumed coverage on Nuvei in a research report on Wednesday, December 20th. They issued an "overweight" rating and a $34.00 target price for the company. Wells Fargo & Company lowered their price target on Nuvei from $29.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 7th. Finally, Royal Bank of Canada boosted their price objective on Nuvei from $29.00 to $34.00 and gave the stock an "outperform" rating in a research note on Thursday, March 7th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $31.88.

Nuvei Price Performance

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 firm has a market cap of $4.50 billion, a price-to-earnings ratio of -537.74, a price-to-earnings-growth ratio of 1.91 and a beta of 2.68. The stock's fifty day moving average price is $25.91 and its 200-day moving average price is $21.89.

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, topping the consensus estimate of $0.24 by $0.06. The firm had revenue of $321.52 million for the quarter, compared to analysts' expectations of $319.60 million. Nuvei had a negative net margin of 0.66% and a positive return on equity of 6.64%. Equities research analysts predict that Nuvei Co. will post 1.27 EPS for the current fiscal year.

Nuvei Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Investors of record on Tuesday, March 19th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.24%. The ex-dividend date is Monday, March 18th. Nuvei's payout ratio is -666.56%.

Institutional Investors Weigh In On Nuvei

A number of institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its position in shares of Nuvei by 14.8% in the first quarter. Bank of New York Mellon Corp now owns 68,197 shares of the company's stock worth $5,141,000 after purchasing an additional 8,809 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Nuvei in the 1st quarter worth approximately $26,000. APG Asset Management N.V. acquired a new stake in shares of Nuvei during the 1st quarter valued at $212,000. Great West Life Assurance Co. Can purchased a new position in shares of Nuvei during the 1st quarter valued at $914,000. Finally, Blair William & Co. IL increased its stake in shares of Nuvei by 8.8% in the first quarter. Blair William & Co. IL now owns 4,350 shares of the company's stock worth $328,000 after acquiring an additional 350 shares during the last quarter. 42.45% of the stock is currently owned by institutional investors and hedge funds.

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.