Smith Group Asset Management LLC Takes Position in Shift4 Payments, Inc. $FOUR

Key Points

• Smith Group Asset Management LLC acquired a new stake in Shift4 Payments, purchasing 3,330 shares valued at approximately $330,000 in the second quarter.
• Several institutional investors, including Durable Capital Partners LP and Baird Financial Group Inc., have significantly increased their stakes in Shift4 Payments during the first quarter, showing a strong level of institutional interest in the company.
• Shift4 Payments reported mixed earnings results, with an EPS of $1.10 missing analysts' estimates of $1.20, despite a 28.9% year-over-year revenue increase.

Smith Group Asset Management LLC acquired a new stake in Shift4 Payments, Inc. (NYSE:FOUR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,330 shares of the company's stock, valued at approximately $330,000.

Several other hedge funds and other institutional investors have also made changes to their positions in FOUR. Durable Capital Partners LP boosted its stake 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 purchasing an additional 788,952 shares during the period. Perpetual Ltd purchased a new position in shares of Shift4 Payments in the first quarter valued at approximately $56,863,000. Baird Financial Group Inc. boosted its stake in shares of Shift4 Payments by 64.7% in 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 period. Kodai Capital Management LP purchased a new position in shares of Shift4 Payments in the first quarter valued at approximately $14,279,000. Finally, Senator Investment Group LP lifted its stake in Shift4 Payments by 32.4% in the first quarter. Senator Investment Group LP now owns 678,334 shares of the company's stock worth $55,427,000 after acquiring an additional 165,973 shares during the last quarter. Hedge funds and other institutional investors own 98.87% of the company's stock.

Shift4 Payments Stock Up 0.9%

Shares of NYSE:FOUR opened at $76.04 on Friday. The firm has a 50 day simple moving average of $83.56 and a 200-day simple moving average of $88.79. The company has a market capitalization of $6.72 billion, a PE ratio of 28.16, a P/E/G ratio of 0.76 and a beta of 1.69. Shift4 Payments, Inc. has a twelve month low of $68.09 and a twelve month high of $127.50. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 2.99.

Shift4 Payments (NYSE:FOUR - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $1.10 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.10). The business had revenue of $413.40 million during the quarter, compared to analyst estimates of $967.84 million. Shift4 Payments had a net margin of 6.11% and a return on equity of 37.05%. The business's revenue was up 28.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.96 earnings per share. On average, equities analysts predict that Shift4 Payments, Inc. will post 3.7 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FOUR. Truist Financial lifted their price target on shares of Shift4 Payments from $97.00 to $109.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. Morgan Stanley decreased their price target on shares of Shift4 Payments from $92.00 to $86.00 and set an "equal weight" rating for the company in a research note on Friday, October 3rd. Oppenheimer reduced their price objective on shares of Shift4 Payments from $115.00 to $112.00 and set an "outperform" rating for the company in a research report on Friday, October 17th. DA Davidson set a $124.00 price objective on shares of Shift4 Payments in a research report on Wednesday. Finally, BTIG Research restated a "buy" rating on shares of Shift4 Payments in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $110.05.

Insider Activity

In other Shift4 Payments news, Chairman Jared Isaacman bought 104,705 shares of the business's stock in a transaction dated Monday, August 11th. The shares were acquired at an average cost of $83.61 per share, with a total value of $8,754,385.05. Following the acquisition, the chairman directly owned 939,715 shares of the company's stock, valued at $78,569,571.15. The trade was a 12.54% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider James J. Whalen sold 794 shares of Shift4 Payments stock in a transaction on Friday, August 15th. The shares were sold at an average price of $89.89, for a total transaction of $71,372.66. Following the completion of the transaction, the insider directly owned 56,324 shares in the company, valued at $5,062,964.36. The trade was a 1.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.

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