PNC Financial Services Group Inc. Cuts Position in Shift4 Payments, Inc. (NYSE:FOUR)

PNC Financial Services Group Inc. trimmed its position in shares of Shift4 Payments, Inc. (NYSE:FOUR) by 10.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,094 shares of the company’s stock after selling 1,466 shares during the period. PNC Financial Services Group Inc.’s holdings in Shift4 Payments were worth $1,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of FOUR. The Manufacturers Life Insurance Company raised its position in Shift4 Payments by 11,776.9% during the second quarter. The Manufacturers Life Insurance Company now owns 1,730,704 shares of the company’s stock valued at $126,947,000 after purchasing an additional 1,716,132 shares during the period. Ensign Peak Advisors Inc increased its position in shares of Shift4 Payments by 6,185.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 1,095,546 shares of the company’s stock valued at $80,358,000 after purchasing an additional 1,078,115 shares during the last quarter. Senator Investment Group LP raised its holdings in Shift4 Payments by 8,551.1% during the 2nd quarter. Senator Investment Group LP now owns 562,236 shares of the company’s stock valued at $41,240,000 after buying an additional 555,737 shares during the period. Artemis Investment Management LLP lifted its position in Shift4 Payments by 113.0% in the third quarter. Artemis Investment Management LLP now owns 457,467 shares of the company’s stock worth $40,532,000 after buying an additional 242,684 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in Shift4 Payments by 11.3% during the second quarter. Clearbridge Investments LLC now owns 2,314,928 shares of the company’s stock worth $169,800,000 after buying an additional 235,355 shares during the period. 98.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FOUR shares. BTIG Research increased their target price on shares of Shift4 Payments from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Stephens increased their price objective on shares of Shift4 Payments from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. The Goldman Sachs Group raised their price objective on shares of Shift4 Payments from $106.00 to $119.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. DA Davidson upped their target price on Shift4 Payments from $118.00 to $126.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Morgan Stanley raised their price target on Shift4 Payments from $66.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $102.15.

Shift4 Payments Price Performance

NYSE:FOUR opened at $114.95 on Thursday. The firm’s fifty day moving average is $95.09 and its two-hundred day moving average is $80.43. The firm has a market cap of $10.36 billion, a price-to-earnings ratio of 62.47, a PEG ratio of 1.39 and a beta of 1.64. Shift4 Payments, Inc. has a one year low of $55.87 and a one year high of $115.08. The company has a debt-to-equity ratio of 2.71, a quick ratio of 2.97 and a current ratio of 2.98.

Insider Buying and Selling at Shift4 Payments

In related news, CFO Nancy Disman sold 20,000 shares of Shift4 Payments stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $81.30, for a total value of $1,626,000.00. Following the sale, the chief financial officer now directly owns 182,959 shares in the company, valued at approximately $14,874,566.70. The trade was a 9.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jordan Frankel sold 12,500 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $82.57, for a total value of $1,032,125.00. Following the completion of the transaction, the insider now directly owns 228,021 shares of the company’s stock, valued at approximately $18,827,693.97. This represents a 5.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 30.57% of the stock is owned by corporate insiders.

Shift4 Payments Company 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.