Shift4 Payments, Inc. (NYSE:FOUR), a leading payment processing company, recently saw a decrease in the ownership stake by investment firm WCM Investment Management LLC. According to the filing with the Securities and Exchange Commission (SEC), WCM Investment Management LLC reduced its stake by 24.4% during the second quarter, selling 58,463 shares of Shift4 Payments stock. As a result, WCM Investment Management LLC now owns 180,975 shares of Shift4 Payments, which represents 0.22% of the company’s total shares.
The value of WCM Investment Management LLC’s stake in Shift4 Payments was estimated to be $12,333,000 at the end of the reporting period. This reduction in ownership reflects a strategic decision made by the investment firm regarding their holdings in Shift4 Payments.
In other news, on Thursday, August 3rd, Shift4 Payments released its quarterly earnings report. The company reported earnings per share (EPS) of $0.58 for the quarter, surpassing analyst expectations of $0.34 by $0.24. Additionally, Shift4 Payments achieved a return on equity (ROE) of 20.47% and a net margin of 4.94%. The company generated revenue amounting to $228.10 million during the quarter compared to analyst estimates of $229.41 million.
Based on equities research analysts’ assessments and forecasts, it is anticipated that Shift4 Payments will achieve earnings per share (EPS) of 2.09 for the current year.
Several recent research reports have focused on analyzing Shift4 Payments’ performance and potential future growth opportunities. Credit Suisse Group raised its price objective for Shift4 Payment’s shares from $75.00 to $80.00 and provided an “outperform” rating in their report on Friday, August 4th.
Similarly, UBS Group increased their price objective for Shift4 Payments’ shares from $86.00 to $93.00 in a report published on Wednesday, July 12th. However, The Goldman Sachs Group lowered their price objective for the company’s shares from $90.00 to $88.00 in a report released on Thursday, July 13th.
B. Riley initiated coverage of Shift4 Payments and assigned the stock a “buy” rating along with a price objective of $81.00 on Friday, June 23rd. Additionally, BTIG Research also initiated coverage, giving Shift4 Payments a “buy” rating and designating an $83.00 price target on the stock.
Overall, industry experts have expressed optimistic views regarding Shift4 Payments’ performance and future prospects, with one analyst even assigning the stock a hold rating and fourteen others issuing buy ratings for the company.
According to data obtained from Bloomberg.com, Shift4 Payments currently holds an average rating of “Moderate Buy” with an average price target of $80.29.
In conclusion, WCM Investment Management LLC has reduced its stake in Shift4 Payments during the second quarter, while analysts remain positive about the company’s future earnings and growth potential based on its recent quarterly performance and strong market projections.
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Notable Hedge Fund Activity and Insider Transactions Surrounding Shift4 Payments (FOUR)
In recent months, there has been a noticeable increase in hedge funds either increasing or decreasing their holdings in Shift4 Payments (FOUR). Durable Capital Partners LP, for example, has boosted its holdings by 7.1% in the fourth quarter and now owns a total of 4,576,010 shares valued at $255,936,000. This significant increase was accompanied by Alliancebernstein L.P., which also raised its stake by 6.0%, resulting in ownership of 3,171,922 shares valued at $177,406,000.
Clearbridge Investments LLC joined the trend as well by increasing its holdings in Shift4 Payments by 2.4% during the first quarter. Clearbridge Investments LLC now holds 1,635,232 shares worth $123,951,000 after acquiring an additional 39,006 shares. Wasatch Advisors LP took a slightly different approach and acquired a new stake in the company during the first quarter valued at $59,081,000.
To add to this perplexing array of investments and transactions, Geode Capital Management LLC also participated by boosting its own holdings in Shift4 Payments by 3.3% during the same period. Geode Capital Management LLC now owns 722,623 shares worth $54,781,000.
It is worth noting that institutional investors currently hold approximately 70.82% of Shift4 Payments’ stock. This high level of investment from institutional players adds to the mystique surrounding the company’s future prospects.
In other news related to Shift4 Payments’ stock movements and transactions among insiders within the organization itself; CFO Nancy Disman sold 2,000 shares of FOUR on August 8th for an average price of $65.12 per share resulting in a total value of $130,240.00 for the transaction. As a result of this sale Disman now directly holds approximately 301170 shared with a total value of $19,612,190.40.
These transactions were disclosed in filings with the Securities & Exchange Commission and can be accessed through the provided link.
As for the stock’s recent performance, Shift4 Payments (FOUR) opened at $54.43 on September 24th. The stock has shown some volatility over the past year, ranging from a low of $36.33 to a high of $76.40. Currently, FOUR has a 50-day moving average price of $60.37 and a 200-day moving average price of $64.36.
With regards to financial stability and leverage, Shift4 Payments maintains a current ratio of 3.24 along with a quick ratio of 3.23. Furthermore, the company holds a debt-to-equity ratio of 3.64.
In terms of market capitalization, Shift4 Payments boasts a respectable figure standing at $4.47 billion. The stock is currently trading at a PE ratio of 32.21 and has earned itself a price-to-earnings-growth ratio of 0.51 which could lead to further speculation regarding its future potential.
Considering the perplexing movements made by hedge funds and institutional investors in relation to Shift4 Payments’ stock, as well as notable insider transactions by key figures such as the CFO, Nancy Disman, it is evident that there is considerable interest and activity surrounding this particular company within the financial sector market.
Only time will tell how these moves will ultimately impact Shift4 Payment’s position as it navigates an increasingly complex landscape within its industry sector where competition intensifies day by day.
