Zacks Investment Research Upgrades Shift4 Payments (NYSE:FOUR) to “Hold”

Shift4 Payments (NYSE:FOUR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Shift4 Payments Inc. is a provider of integrated payment processing and technology solutions. Shift4 Payments Inc. is based in Allentown, United States. “

FOUR has been the subject of a number of other reports. Wolfe Research raised Shift4 Payments from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 6th. Morgan Stanley raised their target price on Shift4 Payments from $86.00 to $93.00 and gave the company an “equal weight” rating in a report on Thursday, April 22nd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $77.50.

Shares of NYSE:FOUR traded down $5.60 during midday trading on Wednesday, reaching $86.08. 5,801,026 shares of the company’s stock were exchanged, compared to its average volume of 928,241. The stock has a 50 day moving average price of $94.02. The company has a current ratio of 7.09, a quick ratio of 7.08 and a debt-to-equity ratio of 2.03. The company has a market capitalization of $6.97 billion and a PE ratio of -81.98. Shift4 Payments has a fifty-two week low of $34.24 and a fifty-two week high of $104.11.

Shift4 Payments (NYSE:FOUR) last issued its quarterly earnings data on Thursday, May 6th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.54). The business had revenue of $239.30 million for the quarter, compared to analyst estimates of $230.07 million. Shift4 Payments had a negative return on equity of 18.73% and a negative net margin of 15.39%. Shift4 Payments’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, analysts expect that Shift4 Payments will post -0.07 EPS for the current year.

In related news, insider Jordan Frankel sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, July 15th. The stock was sold at an average price of $91.94, for a total transaction of $459,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Taylor Lauber sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 22nd. The stock was sold at an average price of $98.81, for a total value of $1,482,150.00. Following the sale, the insider now owns 168,041 shares of the company’s stock, valued at approximately $16,604,131.21. The disclosure for this sale can be found here. Insiders sold a total of 1,726,089 shares of company stock valued at $159,107,240 in the last quarter. Company insiders own 38.03% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Focused Wealth Management Inc acquired a new position in Shift4 Payments during the second quarter worth approximately $56,000. Ratan Capital Management LP increased its position in Shift4 Payments by 3.4% during the first quarter. Ratan Capital Management LP now owns 226,862 shares of the company’s stock worth $18,605,000 after buying an additional 7,500 shares during the period. Rehmann Capital Advisory Group acquired a new position in Shift4 Payments during the first quarter worth approximately $287,000. Teachers Retirement System of The State of Kentucky increased its position in Shift4 Payments by 129.5% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 52,244 shares of the company’s stock worth $4,285,000 after buying an additional 29,484 shares during the period. Finally, Virtu Financial LLC acquired a new position in Shift4 Payments during the first quarter worth approximately $692,000. Hedge funds and other institutional investors own 53.38% of the company’s stock.

About Shift4 Payments

Shift4 Payments, Inc 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.

See Also: Do stock splits help investors?

Get a free copy of the Zacks research report on Shift4 Payments (FOUR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Shift4 Payments (NYSE:FOUR)

Receive News & Ratings for Shift4 Payments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shift4 Payments and related companies with MarketBeat.com's FREE daily email newsletter.