DAVENPORT & Co LLC Invests $10.62 Million in Shift4 Payments, Inc. (NYSE:FOUR)

DAVENPORT & Co LLC acquired a new position in shares of Shift4 Payments, Inc. (NYSE:FOUR - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 129,907 shares of the company's stock, valued at approximately $10,615,000. DAVENPORT & Co LLC owned 0.15% of Shift4 Payments at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FOUR. Perpetual Ltd bought a new position in Shift4 Payments during the first quarter worth $56,863,000. Vanguard Group Inc. boosted its position in Shift4 Payments by 9.4% during the fourth quarter. Vanguard Group Inc. now owns 6,539,486 shares of the company's stock worth $678,668,000 after purchasing an additional 562,774 shares during the period. Cat Rock Capital Management LP bought a new position in Shift4 Payments during the fourth quarter worth $39,222,000. Darlington Partners Capital Management LP boosted its position in Shift4 Payments by 17.2% during the fourth quarter. Darlington Partners Capital Management LP now owns 2,510,014 shares of the company's stock worth $260,489,000 after purchasing an additional 367,500 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its position in Shift4 Payments by 41.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,198,845 shares of the company's stock worth $127,689,000 after purchasing an additional 350,703 shares during the period. 98.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. B. Riley reissued a "buy" rating on shares of Shift4 Payments in a report on Monday, June 2nd. Raymond James Financial reduced their price target on Shift4 Payments from $140.00 to $130.00 and set a "strong-buy" rating on the stock in a research report on Friday, April 4th. Wall Street Zen cut Shift4 Payments from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Wells Fargo & Company increased their target price on Shift4 Payments from $100.00 to $111.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Shift4 Payments from $125.00 to $95.00 and set a "market perform" rating for the company in a research report on Monday, March 31st. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Shift4 Payments has an average rating of "Moderate Buy" and an average price target of $115.35.

Insiders Place Their Bets

In other Shift4 Payments news, Director Karen Roter Davis sold 2,757 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $94.53, for a total value of $260,619.21. Following the completion of the transaction, the director owned 6,592 shares of the company's stock, valued at approximately $623,141.76. The trade was a 29.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sarah Goldsmith-Grover sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $94.53, for a total transaction of $94,530.00. Following the transaction, the director directly owned 7,474 shares of the company's stock, valued at $706,517.22. The trade was a 11.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,757 shares of company stock valued at $1,258,449. 25.15% of the stock is currently owned by corporate insiders.

Shift4 Payments Stock Up 3.4%

Shift4 Payments stock traded up $3.35 on Friday, hitting $101.89. 1,163,430 shares of the stock traded hands, compared to its average volume of 1,690,053. Shift4 Payments, Inc. has a 1 year low of $57.45 and a 1 year high of $127.50. The firm has a market cap of $9.03 billion, a P/E ratio of 27.00, a price-to-earnings-growth ratio of 0.73 and a beta of 1.80. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 2.12. The business's fifty day simple moving average is $91.52 and its 200 day simple moving average is $95.75.

Shift4 Payments (NYSE:FOUR - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.76 by $0.31. Shift4 Payments had a return on equity of 32.97% and a net margin of 6.50%. The business had revenue of $368.50 million for the quarter, compared to the consensus estimate of $886.09 million. During the same period in the previous year, the company posted $0.54 earnings per share. The company's revenue for the quarter was up 39.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Shift4 Payments, Inc. will post 3.7 earnings per share for the current year.

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.