State of Michigan Retirement System Sells 143,400 Shares of Shift4 Payments, Inc. (NYSE:FOUR)

State of Michigan Retirement System trimmed its stake in shares of Shift4 Payments, Inc. (NYSE:FOUR - Free Report) by 45.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 175,000 shares of the company's stock after selling 143,400 shares during the period. State of Michigan Retirement System owned about 0.21% of Shift4 Payments worth $13,010,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Belpointe Asset Management LLC increased its position in shares of Shift4 Payments by 358.6% in the first quarter. Belpointe Asset Management LLC now owns 454 shares of the company's stock valued at $34,000 after buying an additional 355 shares in the last quarter. Fortis Capital Advisors LLC increased its position in shares of Shift4 Payments by 1,873.9% in the first quarter. Fortis Capital Advisors LLC now owns 454 shares of the company's stock valued at $34,000 after buying an additional 431 shares in the last quarter. Quarry LP purchased a new stake in shares of Shift4 Payments in the first quarter valued at approximately $40,000. State of Wyoming purchased a new stake in shares of Shift4 Payments in the fourth quarter valued at approximately $36,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of Shift4 Payments during the third quarter worth approximately $35,000. 98.87% of the stock is owned by institutional investors and hedge funds.

Shift4 Payments Stock Up 3.0 %

Shares of FOUR traded up $1.98 during mid-day trading on Wednesday, reaching $69.09. The company's stock had a trading volume of 2,667,578 shares, compared to its average volume of 1,440,831. Shift4 Payments, Inc. has a 12-month low of $42.91 and a 12-month high of $92.30. The stock has a market cap of $5.95 billion, a PE ratio of 48.54, a price-to-earnings-growth ratio of 0.46 and a beta of 1.57. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.64 and a quick ratio of 1.63. The company's 50 day moving average is $75.30 and its 200 day moving average is $66.66.

Shift4 Payments (NYSE:FOUR - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.62 EPS for the quarter, missing analysts' consensus estimates of $0.67 by ($0.05). Shift4 Payments had a net margin of 3.36% and a return on equity of 27.35%. The business had revenue of $269.30 million during the quarter, compared to analysts' expectations of $278.85 million. Equities analysts anticipate that Shift4 Payments, Inc. will post 2.86 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on FOUR. Mizuho reiterated a "buy" rating and set a $85.00 price target on shares of Shift4 Payments in a research report on Wednesday, March 27th. The Goldman Sachs Group boosted their price objective on Shift4 Payments from $76.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, January 11th. Redburn Atlantic initiated coverage on Shift4 Payments in a research note on Wednesday, December 6th. They set a "sell" rating and a $49.00 price objective on the stock. Morgan Stanley boosted their price objective on Shift4 Payments from $60.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 28th. Finally, Benchmark reaffirmed a "buy" rating and issued a $99.00 price target on shares of Shift4 Payments in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twenty have assigned a buy rating to the company's stock. According to data from MarketBeat, Shift4 Payments has an average rating of "Moderate Buy" and a consensus price target of $85.00.

Insider Activity

In related news, insider David Taylor Lauber sold 15,000 shares of the company's stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $80.15, for a total value of $1,202,250.00. Following the completion of the sale, the insider now directly owns 243,880 shares of the company's stock, valued at approximately $19,546,982. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 32.14% 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.