Hodges Capital Management Reduces Stake in Shift4 Payments by 18.8%

Hodges Capital Management Inc. has decreased its holdings in Shift4 Payments, Inc. by 18.8%, according to a recent disclosure with the U.S. Securities and Exchange Commission (SEC). The institutional investor sold 1,665 shares during the second quarter, bringing its total ownership to 7,200 shares valued at approximately $714,000.

This adjustment by Hodges Capital reflects a broader trend among institutional investors in the payment processing sector. Other notable investors have also made changes to their positions in Shift4 Payments. For instance, the Teacher Retirement System of Texas acquired a new stake in the company valued at around $726,000 in the first quarter.

Envestnet Asset Management Inc. increased its holdings by 18.6%, now owning 72,194 shares worth $5.9 million after acquiring an additional 11,307 shares. Similarly, Crossmark Global Holdings Inc. lifted its position by 5.6%, resulting in ownership of 3,641 shares valued at $298,000.

Cerity Partners LLC and Xponance Inc. also increased their stakes in the company, with Cerity Partners raising its holdings by 10.0% and Xponance boosting its shares by 3.4%. In total, institutional investors and hedge funds now control 98.87% of Shift4 Payments’ stock.

Stock Performance and Analyst Ratings

As of the latest trading session, Shift4 Payments (NYSE: FOUR) opened at $71.03. The company has experienced fluctuations in its stock price, with a 12-month low of $61.23 and a high of $127.50. Its market capitalization stands at approximately $6.28 billion, with a price-to-earnings ratio of 33.35 and a P/E/G ratio of 0.69.

Analysts have recently adjusted their price targets for Shift4 Payments. Keefe, Bruyette & Woods lowered their target from $90.00 to $75.00, rating the stock as “market perform.” Conversely, Oppenheimer revised their target from $115.00 to $112.00, maintaining an “outperform” rating. Deutsche Bank initiated coverage with a “buy” rating and a target of $120.00.

Overall, the consensus rating for Shift4 Payments is classified as “Moderate Buy,” with an average price target of $101.43, as reported by MarketBeat.

Insider Trading Activity

In related news, CEO David Taylor Lauber sold 2,500 shares of Shift4 Payments on September 3, realizing approximately $221,475 from the transaction. Following this sale, Lauber retains 285,588 shares, valued at around $25.3 million, reflecting a 0.87% decrease in his holdings.

Additionally, insider James J. Whalen sold 794 shares on August 15, resulting in a total transaction of $71,372.66. After this sale, Whalen owns 56,324 shares valued at approximately $5.06 million. Insiders currently hold 25.15% of Shift4 Payments’ stock.

Shift4 Payments, Inc. offers integrated payment processing solutions in the United States, providing services that include omni-channel card acceptance, merchant acquiring, and risk management solutions. As the company navigates the evolving landscape of digital payments, investor interest remains robust, reflecting a growing confidence in its business model and market potential.

For further insights into institutional holdings and insider trades, investors can refer to the SEC filings and financial updates available through various platforms.