As per the filing, at the time of acquisition, Wasatch Advisors LP owned approximately 0.94% of Shift4 Payments’ outstanding shares. This goes to show that the investment firm saw potential and promising prospects in this particular company.
Shift4 Payments (NYSE: FOUR) experienced a decline in its stock price on Friday, trading down by $0.68 and reaching $56.10. It should be noted that it recorded a trading volume of 44,645 shares for that day, which is lower than its average volume of 1,269,002 shares. As for its market capitalization, it currently stands at $4.60 billion.
The company’s price-to-earnings (P/E) ratio currently stands at 33.57 and has a relatively low price-to-earnings-growth (PEG) ratio of 0.56. These ratios indicate that investors are paying approximately 33 times the earnings for each share of Shift4 Payments’ stock. Furthermore, with a PEG ratio below 1, it suggests that the stock may be undervalued relative to its projected earnings growth rate.
In terms of financial stability and liquidity management, Shift4 Payments seems to have healthy figures based on its quick ratio and current ratio metrics. The company’s quick ratio stands at 3.23 and its current ratio at 3.24 – both indicating that it has ample short-term assets to cover its current liabilities. It is worth mentioning that Shift4 Payments also maintains a debt-to-equity ratio of 3.64, which contributes to its overall financial standing.
Over the past year, Shift4 Payments’ stock has witnessed fluctuating levels of performance. Its lowest point during this period was recorded at $36.33, while its highest reached $76.40 – demonstrating a significant price volatility in the market. However, it is important to note that these figures are subject to change as the market dynamics evolve.
Looking at recent trends, Shift4 Payments’ fifty-day simple moving average stands at $62.94, while its two-hundred-day simple moving average is slightly higher at $64.91. These moving averages indicate the average price of the stock over different time periods and are used by investors to determine potential price trends and market sentiment.
In conclusion, Wasatch Advisors LP’s acquisition of a new position in Shift4 Payments reflects their confidence in the company’s future prospects. Shift4 Payments has experienced fluctuations in its stock price but currently holds a favorable P/E ratio and PEG ratio below 1. Furthermore, it showcases stable liquidity management through healthy quick and current ratios. Investors should stay vigilant towards any developments in the market that could impact Shift4 Payments’ performance going forward.
Note: The information mentioned in this article is based on publicly available data as of September 9, 2023, and may be subject to change over time as new information becomes available or market conditions shift accordingly.
Shift4 Payments Sees Strong Interest from Institutional Investors as Stock Holdings Increase
Institutional investors continue to show a strong interest in Shift4 Payments (NYSE: FOUR), as numerous hedge funds and other institutions have recently made changes to their holdings of the company’s stock. PNC Financial Services Group Inc., for example, has boosted its holdings in Shift4 Payments by 26.9% during the first quarter of this year, purchasing an additional 3,090 shares and bringing its total ownership to 14,563 shares valued at $903,000. MetLife Investment Management LLC has also entered the scene with a new position in Shift4 Payments, adding approximately $172,000 worth of the company’s stock to its portfolio.
Additionally, Great West Life Assurance Co. Can witnessed a growth of 21.2% in its holdings of Shift4 Payments during the same period. This increase equated to an additional 405 shares, valued at $153,000. Allianz Asset Management GmbH followed suit by increasing its stake in Shift4 Payments by an impressive 61.2%, acquiring an extra 84,283 shares valued at $13,753,000.
Baird Financial Group Inc., however, took it to another level by raising its holdings in Shift4 Payments by a whopping 338.1%. This translated to the acquisition of an additional 24,329 shares worth $1,952,000 during the first quarter.
It is important to note that institutional investors currently own around 70.82% of Shift4 Payments’ stock.
While institutional investors are showing significant interest in Shift4 Payments’ stock purchases, there have also been key developments on the selling side. CFO Nancy Disman recently sold 2,000 shares of Shift4 Payments’ stock at an average price of $65.12 per share on August 8th for a total transaction value of $130,240. Following this sale, Disman now holds approximately 301,170 shares of the company’s stock, equivalent to a value of $19,612,190.40.
The aforementioned sale was disclosed in a filing with the Securities and Exchange Commission (SEC), which is available on the SEC’s website. Company insiders currently own 32.14% of Shift4 Payments’ stock.
Turning to its financial results, Shift4 Payments reported encouraging earnings for the quarter ending on August 3rd. The company announced an earnings per share (EPS) of $0.58, surpassing analysts’ consensus estimates by $0.24 and showcasing robust performance. The net margin for the quarter stood at 4.94%, while the return on equity reached an impressive 20.47%. In terms of revenue, Shift4 Payments recorded $228.10 million for the quarter, slightly below analyst estimates of $229.41 million.
Several research reports have recently covered topics related to Shift4 Payments’ performance and potential outlooks as well. Credit Suisse Group raised their price target from $75.00 to $80.00 and issued an “outperform” rating for the company in a research note on August 4th. Moffett Nathanson also upgraded Shift4 Payments from “market perform” to “outperform” and increased their target price from $75.00 to $80.00 back in June.
B.Riley initiated coverage on Shift4 Payments in late June, assigning it a “buy” rating along with a price target of $81.00 per share.
Piper Sandler echoed positive sentiments by reissuing an “overweight” rating on August 2nd, setting a price objective of $85.00 for Shift4 Payments’ shares.
On the other hand, The Goldman Sachs Group reduced their price target from $90.00 to $88.00 in July.
Overall, data from Bloomberg.com suggests that out of sixteen analysts currently covering Shift4 Payments’ stock, one has given the company a hold rating, while fifteen analysts have assigned it a buy rating. The consensus target price for the company’s stock stands at $80.29.
Shift4 Payments continues to capture the attention of institutional investors through its promising financial performance and potential growth prospects. As the company continues to make strides in its industry, market participants eagerly anticipate future developments that may positively impact its stock performance.
The post Wasatch Advisors LP Acquires New Position in Shift4 Payments, Inc.: A Promising Investment Move appeared first on Best Stocks.
