Pier Capital LLC Trims Stock Position in Shift4 Payments, Inc. (NYSE:FOUR)

Pier Capital LLC cut its holdings in shares of Shift4 Payments, Inc. (NYSE:FOUR) by 0.1% in the third quarter, HoldingsChannel reports. The firm owned 108,460 shares of the company’s stock after selling 124 shares during the period. Shift4 Payments accounts for about 1.4% of Pier Capital LLC’s holdings, making the stock its 12th biggest holding. Pier Capital LLC’s holdings in Shift4 Payments were worth $9,610,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in FOUR. Senator Investment Group LP grew its stake in shares of Shift4 Payments by 8,551.1% during the 2nd quarter. Senator Investment Group LP now owns 562,236 shares of the company’s stock worth $41,240,000 after purchasing an additional 555,737 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in Shift4 Payments by 26.6% during the third quarter. Oppenheimer & Co. Inc. now owns 37,580 shares of the company’s stock worth $3,330,000 after buying an additional 7,905 shares in the last quarter. Brown Brothers Harriman & Co. grew its position in Shift4 Payments by 41.9% during the third quarter. Brown Brothers Harriman & Co. now owns 492,849 shares of the company’s stock valued at $43,666,000 after buying an additional 145,444 shares during the period. Artemis Investment Management LLP increased its holdings in Shift4 Payments by 113.0% in the third quarter. Artemis Investment Management LLP now owns 457,467 shares of the company’s stock valued at $40,532,000 after buying an additional 242,684 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of Shift4 Payments by 9.3% in the third quarter. Jennison Associates LLC now owns 2,834,061 shares of the company’s stock worth $251,098,000 after acquiring an additional 242,179 shares during the period. 98.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Nancy Disman sold 20,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $81.30, for a total transaction of $1,626,000.00. Following the completion of the sale, the chief financial officer now directly owns 182,959 shares in the company, valued at approximately $14,874,566.70. This trade represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jordan Frankel sold 12,500 shares of Shift4 Payments stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $82.57, for a total transaction of $1,032,125.00. Following the transaction, the insider now directly owns 228,021 shares in the company, valued at $18,827,693.97. This trade represents a 5.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,500 shares of company stock worth $3,226,675 over the last ninety days. Corporate insiders own 30.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FOUR. William Blair initiated coverage on Shift4 Payments in a research report on Wednesday, September 4th. They set an “outperform” rating on the stock. Barclays began coverage on Shift4 Payments in a report on Wednesday, October 9th. They issued an “overweight” rating and a $120.00 price objective on the stock. Wells Fargo & Company boosted their price objective on Shift4 Payments from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Oppenheimer initiated coverage on Shift4 Payments in a research report on Tuesday, October 1st. They set an “outperform” rating and a $109.00 target price on the stock. Finally, BTIG Research boosted their price target on shares of Shift4 Payments from $90.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.29.

Shift4 Payments Stock Up 1.7 %

Shares of NYSE FOUR opened at $103.71 on Friday. The stock has a market cap of $9.34 billion, a PE ratio of 56.36, a P/E/G ratio of 1.25 and a beta of 1.70. The company has a current ratio of 2.98, a quick ratio of 2.97 and a debt-to-equity ratio of 2.71. Shift4 Payments, Inc. has a 12-month low of $55.87 and a 12-month high of $116.84. The company has a 50-day moving average of $98.20 and a 200 day moving average of $82.32.

Shift4 Payments Profile

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.