Nuvei Co. (NASDAQ:NVEI) Given Consensus Recommendation of “Moderate Buy” by Analysts

Nuvei Co. (NASDAQ:NVEI) has received an average recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $33.24.

Several equities research analysts recently issued reports on the stock. BMO Capital Markets dropped their target price on shares of Nuvei from $30.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. Barclays started coverage on shares of Nuvei in a research report on Wednesday, December 20th. They issued an “overweight” rating and a $34.00 price target on the stock. Scotiabank increased their price target on shares of Nuvei from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Wells Fargo & Company decreased their price target on shares of 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, Raymond James increased their price target on shares of Nuvei from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th.

Nuvei Trading Up 1.5 %

Shares of NVEI stock opened at $31.31 on Thursday. Nuvei has a 12-month low of $13.32 and a 12-month high of $43.81. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.61. The firm’s 50 day moving average is $25.36 and its 200 day moving average is $21.55. The stock has a market capitalization of $4.37 billion, a P/E ratio of -521.75, a P/E/G ratio of 1.73 and a beta of 2.64.

Nuvei Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Tuesday, March 19th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, March 18th. This represents a $0.40 annualized dividend and a dividend yield of 1.28%. Nuvei’s payout ratio is -666.56%.

Institutional Trading of Nuvei

Several institutional investors and hedge funds have recently modified their holdings of NVEI. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Nuvei in the 1st quarter valued at $26,000. Blair William & Co. IL increased its holdings in Nuvei by 8.8% in the 1st quarter. Blair William & Co. IL now owns 4,350 shares of the company’s stock valued at $328,000 after acquiring an additional 350 shares during the last quarter. New York State Common Retirement Fund increased its holdings in Nuvei by 6.0% in the 1st quarter. New York State Common Retirement Fund now owns 6,399 shares of the company’s stock valued at $279,000 after acquiring an additional 360 shares during the last quarter. State Street Corp increased its holdings in Nuvei by 1.1% in the 1st quarter. State Street Corp now owns 41,728 shares of the company’s stock valued at $1,816,000 after acquiring an additional 444 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in Nuvei by 2.6% in the 3rd quarter. Citigroup Inc. now owns 22,776 shares of the company’s stock valued at $343,000 after acquiring an additional 576 shares during the last quarter. 42.45% of the stock is currently owned by institutional investors.

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. Its platform enables customers to pay and/or accept payments worldwide regardless of their location, device, or preferred payment method.