August 26, 2023 – Brown Brothers Harriman & Co., an institutional investor, has significantly increased its holdings in Shift4 Payments, Inc. (NYSE:FOUR) during the first quarter, according to the company’s latest filing with the Securities and Exchange Commission. The firm added 47,779 shares to its portfolio, resulting in a growth of 498.7% compared to the previous quarter. With this increase, Brown Brothers Harriman & Co. now owns a total of 57,360 shares of Shift4 Payments’ stock, representing 0.07% ownership stakes valued at $4,348,000 at the time of the filing.
Shift4 Payments recently reported its quarterly earnings data on August 3rd. The company surpassed analysts’ consensus estimates by reporting earnings per share (EPS) of $0.58 for the quarter, exceeding expectations by $0.24. Furthermore, Shift4 Payments demonstrated a return on equity of 20.47% and a net margin of 4.94%. Despite falling slightly short of revenue expectations with $228.10 million during the quarter compared to the estimated $229.41 million, Shift4 Payments displayed strong financial performance.
Equities analysts have projected that Shift4 Payments will achieve an EPS of 1.96 for the current fiscal year based on average estimates.
As institutional investors like Brown Brothers Harriman & Co. continue to increase their holdings in Shift4 Payments’ stocks and with positive quarterly results reported by the company, it brings further attention to the potential growth prospects in Shift4’s payment solutions business.
Shift4 Payments specializes in providing integrated payment processing services and technology solutions for various industries including hospitality and retail establishments across North America.
Please note that this article is based on publicly available information as of August 26th, 2023.
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Shift4 Payments Sees Changes in Stock Positions and Ratings from Financial Institutions
Shift4 Payments, a leading payment processing company, has recently seen some significant changes in its stock positions and ratings from various financial institutions. Prospera Financial Services Inc acquired a new position in Shift4 Payments in the fourth quarter of 2023, purchasing shares worth approximately $375,000.
The first quarter also saw an increase in position by First Trust Advisors LP, who now own over 300,000 additional shares of Shift4 Payments. Lisanti Capital Growth LLC and Ratan Capital Management LP also raised their positions during this period, with the former acquiring an additional 63,895 shares and the latter adding 81,601 shares to their holdings.
It is worth noting that institutional investors currently own 67% of Shift4 Payments’ stock. This highlights the confidence placed by large financial organizations in the company’s future prospects.
Furthermore, several brokerages have given their opinions on the stock’s potential. Morgan Stanley upgraded Shift4 Payments from an “underweight” rating to an “equal weight” rating and increased their target price from $52 to $57. B. Riley initiated coverage on the stock with a “buy” rating and set a target price of $81. Mizuho also began covering Shift4 Payments with a “buy” rating and a target price of $80.
Credit Suisse Group raised their price target for Shift4 Payments from $75 to $80 and designated it as an “outperform” stock. The Goldman Sachs Group reduced its price target for the company from $90 to $88 but still maintained a positive rating overall.
In terms of recent news involving Shift4 Payments personnel, CFO Nancy Disman sold 2,000 shares of the company’s stock at an average price of around $65 per share. Meanwhile, insider David Taylor Lauber sold 10,000 shares at an average price of approximately $66 per share.
These transactions were filed with the Securities & Exchange Commission and can be accessed via their official website. It is interesting to note that corporate insiders currently own 32.14% of Shift4 Payments’ stock.
Currently, shares of Shift4 Payments are trading at $55.93 on the New York Stock Exchange (NYSE: FOUR). The company’s 50-day moving average stands at $63.98, while its 200-day moving average is $65.36. With a market cap of $4.59 billion and a price-to-earnings ratio of 33.05, Shift4 Payments has demonstrated stability in the market.
However, it is also important to consider the company’s debt-to-equity ratio of 3.64 and its beta value of 1.23 when analyzing its overall financial health.
In conclusion, Shift4 Payments has experienced some changes in stock positions as well as ratings from various financial institutions. While some institutions have raised their positions and given positive ratings, others have reduced price targets for the stock. Investors should carefully evaluate these factors before making any investment decisions regarding Shift4 Payments’ stock.
Note: This article is based on information available on August 26, 2023, and may not reflect the most recent updates regarding Shift4 Payments or its stock performance.
