IMA Wealth Inc. purchased a new stake in Shift4 Payments, Inc. (NYSE:FOUR – Get Rating) in the fourth quarter, HoldingsChannel reports. The firm purchased 43,702 shares of the company’s stock, valued at approximately $2,532,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in FOUR. Morgan Stanley raised its position in shares of Shift4 Payments by 63.8% in the second quarter. Morgan Stanley now owns 136,191 shares of the company’s stock valued at $12,763,000 after buying an additional 53,058 shares in the last quarter. BlackRock Inc. increased its stake in Shift4 Payments by 7.7% in the third quarter. BlackRock Inc. now owns 3,635,860 shares of the company’s stock valued at $281,852,000 after acquiring an additional 261,391 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Shift4 Payments by 46.0% in the third quarter. Teacher Retirement System of Texas now owns 6,136 shares of the company’s stock valued at $476,000 after acquiring an additional 1,933 shares during the last quarter. Citigroup Inc. increased its stake in Shift4 Payments by 40.2% in the third quarter. Citigroup Inc. now owns 37,675 shares of the company’s stock valued at $2,921,000 after acquiring an additional 10,799 shares during the last quarter. Finally, Blueshift Asset Management LLC bought a new position in Shift4 Payments in the third quarter valued at approximately $1,160,000. Institutional investors own 72.81% of the company’s stock.
In other Shift4 Payments news, CEO Jared Isaacman bought 35,958 shares of the stock in a transaction that occurred on Monday, March 14th. The shares were bought at an average price of $48.38 per share, for a total transaction of $1,739,648.04. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 12.20% of the company’s stock.
Shift4 Payments (NYSE:FOUR – Get Rating) last posted its earnings results on Thursday, May 5th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. Shift4 Payments had a negative net margin of 1.50% and a positive return on equity of 3.32%. The company had revenue of $401.90 million for the quarter, compared to analyst estimates of $383.60 million. During the same quarter in the prior year, the business posted ($0.43) EPS. The firm’s revenue was up 67.9% compared to the same quarter last year. As a group, equities analysts anticipate that Shift4 Payments, Inc. will post 0.5 EPS for the current fiscal year.
A number of brokerages recently issued reports on FOUR. Susquehanna began coverage on shares of Shift4 Payments in a research note on Monday, April 4th. They issued a “positive” rating and a $97.00 price objective on the stock. Credit Suisse Group decreased their price objective on shares of Shift4 Payments from $90.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 2nd. Zacks Investment Research cut shares of Shift4 Payments from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 3rd. Citigroup decreased their target price on shares of Shift4 Payments from $81.00 to $65.00 in a research note on Friday, May 6th. Finally, Truist Financial decreased their target price on shares of Shift4 Payments from $105.00 to $80.00 in a research note on Wednesday, March 2nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Shift4 Payments presently has an average rating of “Hold” and an average target price of $72.23.
About Shift4 Payments (Get Rating)
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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