Victory Capital Management Inc. Sells 76,023 Shares of Shift4 Payments, Inc. (NYSE:FOUR)

Victory Capital Management Inc. cut its stake in Shift4 Payments, Inc. (NYSE:FOUR - Free Report) by 13.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 480,305 shares of the company's stock after selling 76,023 shares during the period. Victory Capital Management Inc. owned approximately 0.58% of Shift4 Payments worth $35,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. C M Bidwell & Associates Ltd. purchased a new position in Shift4 Payments in the third quarter worth approximately $35,000. Harvest Fund Management Co. Ltd purchased a new position in Shift4 Payments in the fourth quarter worth approximately $90,000. Nemes Rush Group LLC purchased a new position in Shift4 Payments in the third quarter worth approximately $79,000. Covestor Ltd grew its position in Shift4 Payments by 49,166.7% in the third quarter. Covestor Ltd now owns 1,478 shares of the company's stock worth $82,000 after acquiring an additional 1,475 shares during the period. Finally, HMS Capital Management LLC acquired a new position in Shift4 Payments during the fourth quarter worth $240,000. 98.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on FOUR. Piper Sandler restated an "overweight" rating and set a $93.00 price target on shares of Shift4 Payments in a research note on Wednesday, February 28th. Benchmark reiterated a "buy" rating and issued a $99.00 price objective on shares of Shift4 Payments in a research note on Tuesday, March 19th. Morgan Stanley increased their price objective on Shift4 Payments from $60.00 to $70.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 28th. DA Davidson reiterated a "buy" rating and issued a $96.00 price objective on shares of Shift4 Payments in a research note on Wednesday, February 28th. Finally, Wells Fargo & Company raised their price target on Shift4 Payments from $60.00 to $85.00 and gave the company an "overweight" rating in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat, Shift4 Payments presently has a consensus rating of "Moderate Buy" and a consensus target price of $84.95.

Insider Buying and Selling at Shift4 Payments

In other Shift4 Payments news, insider David Taylor Lauber sold 15,000 shares of Shift4 Payments stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $80.15, for a total transaction of $1,202,250.00. Following the transaction, the insider now directly owns 243,880 shares of the company's stock, valued at $19,546,982. The sale was disclosed in a filing with the SEC, which is available at this link. 32.14% of the stock is currently owned by insiders.

Shift4 Payments Price Performance

Shares of FOUR traded down $0.38 during trading hours on Tuesday, reaching $59.64. The company had a trading volume of 1,161,570 shares, compared to its average volume of 1,379,131. The firm has a 50 day simple moving average of $69.23 and a 200-day simple moving average of $68.12. The company has a current ratio of 1.64, a quick ratio of 1.63 and a debt-to-equity ratio of 2.02. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 42.00, a PEG ratio of 0.94 and a beta of 1.59. Shift4 Payments, Inc. has a 12-month low of $42.91 and a 12-month high of $92.30.

Shift4 Payments (NYSE:FOUR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.62 earnings per share (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 company had revenue of $269.30 million during the quarter, compared to analysts' expectations of $278.85 million. Research analysts expect that Shift4 Payments, Inc. will post 2.84 earnings per share for the current year.

About Shift4 Payments

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.