Shift4 Payments, Inc. $FOUR Stock Holdings Lowered by DAVENPORT & Co LLC

DAVENPORT & Co LLC cut its holdings in shares of Shift4 Payments, Inc. (NYSE:FOUR) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 127,539 shares of the company’s stock after selling 2,368 shares during the period. DAVENPORT & Co LLC owned approximately 0.14% of Shift4 Payments worth $12,528,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Durable Capital Partners LP increased its holdings in shares of Shift4 Payments by 15.4% in the first quarter. Durable Capital Partners LP now owns 5,919,793 shares of the company’s stock valued at $483,706,000 after buying an additional 788,952 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Shift4 Payments by 13.0% in the 1st quarter. Ameriprise Financial Inc. now owns 1,253,401 shares of the company’s stock worth $102,420,000 after acquiring an additional 144,111 shares during the last quarter. Perpetual Ltd acquired a new stake in shares of Shift4 Payments during the first quarter worth $56,863,000. Senator Investment Group LP lifted its holdings in shares of Shift4 Payments by 32.4% during the first quarter. Senator Investment Group LP now owns 678,334 shares of the company’s stock valued at $55,427,000 after purchasing an additional 165,973 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in shares of Shift4 Payments by 64.7% during the first quarter. Baird Financial Group Inc. now owns 580,814 shares of the company’s stock valued at $47,458,000 after purchasing an additional 228,079 shares during the last quarter. Institutional investors and hedge funds own 98.87% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. The Goldman Sachs Group restated a “buy” rating and set a $104.00 price objective on shares of Shift4 Payments in a report on Wednesday, August 6th. Truist Financial lifted their target price on shares of Shift4 Payments from $97.00 to $109.00 and gave the stock a “hold” rating in a research report on Thursday, July 17th. BTIG Research restated a “buy” rating on shares of Shift4 Payments in a research report on Tuesday, August 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Shift4 Payments in a research note on Saturday, September 27th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $140.00 price objective (up from $130.00) on shares of Shift4 Payments in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.37.

Shift4 Payments Stock Up 2.4%

FOUR stock opened at $78.68 on Tuesday. The company has a 50 day moving average of $87.60 and a two-hundred day moving average of $89.42. The company has a market cap of $6.96 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 0.76 and a beta of 1.69. Shift4 Payments, Inc. has a 12-month low of $68.09 and a 12-month high of $127.50. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 2.99.

Shift4 Payments (NYSE:FOUR) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.10). Shift4 Payments had a net margin of 6.11% and a return on equity of 37.05%. The company had revenue of $413.40 million for the quarter, compared to analysts’ expectations of $967.84 million. During the same quarter in the prior year, the firm earned $0.96 earnings per share. The company’s revenue was up 28.9% on a year-over-year basis. On average, equities analysts anticipate that Shift4 Payments, Inc. will post 3.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO David Taylor Lauber sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $88.59, for a total transaction of $221,475.00. Following the completion of the sale, the chief executive officer directly owned 285,588 shares of the company’s stock, valued at $25,300,240.92. This trade represents a 0.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Jared Isaacman purchased 104,705 shares of Shift4 Payments stock in a transaction dated Monday, August 11th. The shares were purchased at an average price of $83.61 per share, with a total value of $8,754,385.05. Following the completion of the acquisition, the chairman owned 939,715 shares in the company, valued at $78,569,571.15. The trade was a 12.54% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 25.15% of the company’s stock.

Shift4 Payments Company Profile

Shift4 Payments, Inc (NYSE FOUR) provides integrated payment processing and technology solutions in the United States. Its payments platform provides omni-channel card acceptance and processing solutions, including end-to-end payment processing for various payment types; merchant acquiring; proprietary omni-channel gateway; complementary software integrations; integrated and mobile point-of-sale (POS) solutions; security and risk management solutions; and reporting and analytical tools, as well as tokenization, risk management/underwriting, payment device and chargeback management, fraud prevention, and gift card solutions.