Jupiter Asset Management Ltd. purchased a new position in Shift4 Payments, Inc. (NYSE:FOUR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,627 shares of the company’s stock, valued at approximately $339,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Sei Investments Co. increased its position in shares of Shift4 Payments by 5.4% in the first quarter. Sei Investments Co. now owns 3,697 shares of the company’s stock worth $303,000 after purchasing an additional 188 shares during the period. FORA Capital LLC boosted its stake in Shift4 Payments by 8.5% in the first quarter. FORA Capital LLC now owns 2,500 shares of the company’s stock valued at $205,000 after buying an additional 195 shares in the last quarter. Arizona State Retirement System boosted its stake in Shift4 Payments by 2.3% in the second quarter. Arizona State Retirement System now owns 9,722 shares of the company’s stock valued at $911,000 after buying an additional 219 shares in the last quarter. HighTower Advisors LLC boosted its stake in Shift4 Payments by 10.3% in the second quarter. HighTower Advisors LLC now owns 4,244 shares of the company’s stock valued at $400,000 after buying an additional 397 shares in the last quarter. Finally, Harbor Investment Advisory LLC acquired a new stake in Shift4 Payments in the second quarter valued at about $40,000. Institutional investors own 56.37% of the company’s stock.
Several research firms recently weighed in on FOUR. Credit Suisse Group raised their price objective on Shift4 Payments from $85.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, August 6th. Zacks Investment Research raised Shift4 Payments from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research note on Friday, August 6th. Finally, Royal Bank of Canada raised their price objective on Shift4 Payments from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, August 6th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Shift4 Payments presently has a consensus rating of “Buy” and an average price target of $90.30.
Shift4 Payments (NYSE:FOUR) last announced its quarterly earnings results on Thursday, August 5th. The company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.05. Shift4 Payments had a negative return on equity of 6.30% and a negative net margin of 4.63%. The firm had revenue of $351.00 million for the quarter, compared to analyst estimates of $313.76 million. During the same period last year, the firm posted ($0.03) earnings per share. The business’s revenue for the quarter was up 147.5% on a year-over-year basis. On average, sell-side analysts predict that Shift4 Payments, Inc. will post 0.23 earnings per share for the current fiscal year.
In other news, CFO Bradley Herring sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 9th. The stock was sold at an average price of $89.30, for a total transaction of $178,600.00. Following the completion of the transaction, the chief financial officer now directly owns 28,849 shares in the company, valued at $2,576,215.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Searchlight Capital Partners I sold 4,250,000 shares of the firm’s stock in a transaction dated Monday, August 9th. The stock was sold at an average price of $83.75, for a total value of $355,937,500.00. The disclosure for this sale can be found here. Insiders have sold 4,272,000 shares of company stock valued at $358,057,950 over the last 90 days. 38.03% of the stock is owned by corporate insiders.
About Shift4 Payments
Shift4 Payments, Inc 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.
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