State of New Jersey Common Pension Fund D Acquires Shares of 74,472 Nuvei Co. (NASDAQ:NVEI)

State of New Jersey Common Pension Fund D bought a new position in shares of Nuvei Co. (NASDAQ:NVEI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 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.

Other large investors have also made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. purchased a new position in Nuvei during the fourth quarter worth approximately $30,845,000. Wellington Management Group LLP boosted its position in shares of Nuvei by 12.8% during the 3rd quarter. Wellington Management Group LLP now owns 7,616,542 shares of the company’s stock valued at $114,248,000 after acquiring an additional 865,984 shares during the last quarter. Sylebra Capital LLC purchased a new stake in shares of Nuvei in the third quarter valued at about $8,095,000. Tyche Wealth Partners LLC acquired a new stake in Nuvei during the fourth quarter worth about $6,830,000. Finally, Barclays PLC raised its stake in Nuvei by 2,516.2% during 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 period. 42.45% of the stock is currently owned by hedge funds and other institutional investors.

Nuvei Trading Up 0.2 %

NVEI stock opened at $32.19 on Thursday. Nuvei Co. has a 1 year low of $13.32 and a 1 year high of $42.50. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.61. The business’s 50-day moving average is $29.03 and its two-hundred day moving average is $24.42.

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

Nuvei Announces Dividend

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

Analysts Set New Price Targets

NVEI has been the subject of a number of recent analyst reports. Wolfe Research restated a “peer perform” rating on shares of Nuvei in a report on Tuesday, April 2nd. UBS Group restated a “neutral” rating and issued a $34.00 target price (up previously from $30.00) on shares of Nuvei in a research report on Wednesday, April 3rd. The Goldman Sachs Group increased their price target on Nuvei from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. William Blair lowered shares of Nuvei from an “outperform” rating to a “market perform” rating in a report on Monday, April 1st. Finally, Canaccord Genuity Group decreased their target price on shares of Nuvei from $40.00 to $34.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $31.94.

Nuvei Profile

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.