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Core Insights - Shift4 Payments Inc. is considered one of the most undervalued stocks on the NYSE, with a recent price target adjustment from Truist analyst Matthew Coad, lowering it to $74 from $80 while maintaining a Hold rating [1][3] - The company's Q3 2025 earnings report showed a 61% year-over-year increase in Gross Revenue Less Network Fees, totaling $589 million, and a total revenue of $1.18 billion, which was slightly below market expectations [2][3] - Strategic acquisitions, including Global Blue, Smartpay, and Vectron, have significantly contributed to Shift4's performance and expansion into new markets [3][4] Financial Performance - Shift4 Payments reported a total revenue of $1.18 billion for Q3 2025, reflecting a year-over-year increase of 29.44%, despite missing Street expectations by $3.74 million [2] - The company's EPS for the quarter was $1.47, which was $0.01 below estimates [2] Strategic Acquisitions - The acquisition of Global Blue has positioned Shift4 as a leader in the luxury retail sector, contributing $156 million to Gross Revenue Less Network Fees [3] - Recent acquisitions like Smartpay in Australia and Vectron in Germany are being leveraged to introduce products into new geographical markets efficiently [3]

Core Insights - The article discusses the author's investment philosophy, focusing on capital appreciation opportunities through high-quality undervalued companies and growth-oriented firms that are reasonably priced [1]. Group 1: Investment Strategy - The company emphasizes purchasing high-quality undervalued companies as a key investment strategy [1]. - It also highlights the importance of investing in growth companies that are reasonably priced, indicating a balanced approach to growth and value investing [1]. - Dividend-paying stocks are considered for investment, provided they are from good companies and correctly priced [1]. Group 2: Community Engagement - The author aims to provide value to the investment community by sharing insights and opinions on stock-picking and investment strategies [1].

Core Insights - Shift4 Payments is a leading financial technology company specializing in integrated payment processing with over 200,000 customers across various industries [1] Company Overview - Shift4 Payments has been building its competitive advantage for many years, indicating a strong market position and customer base [1] Industry Context - The company operates within the financial technology sector, which is characterized by rapid growth and innovation in payment processing solutions [1]

Core Insights - Shift4 Payments is a leading financial technology company specializing in integrated payment processing with over 200,000 customers across various industries [1] Company Overview - Shift4 Payments has been building its competitive advantage for many years, indicating a strong market position and customer base [1] Industry Context - The company operates within the financial technology sector, which is characterized by rapid growth and innovation in payment processing solutions [1]

Core Viewpoint - Shift4, a leader in integrated payments and commerce technology, is actively engaging with investors through participation in conferences and strategic acquisitions, indicating a focus on growth and innovation in the payments sector [1][2][8]. Group 1: Investor Engagement - Shift4 will present at the UBS Global Technology and AI conference on December 3, with CFO Christopher N. Cruz leading the discussion [2]. - The presentation will last approximately 30 minutes, followed by opportunities for one-on-one and small group meetings with management [2]. - Audio webcasts and replays of the event will be available for 30 days on the Investor Relations website [2]. Group 2: Company Overview - Shift4 is redefining commerce by simplifying complex payment ecosystems globally, powering billions of transactions annually for hundreds of thousands of businesses across various industries [3]. - The company is recognized as a leader in commerce-enabling technology, emphasizing its role in enhancing payment experiences [3]. Group 3: Recent Developments - Shift4 has entered exclusive negotiations to acquire Worldline's North American subsidiaries, including Bambora Inc and related entities, with the transaction expected to close in the first quarter of 2026 [8]. - This acquisition aims to expand Shift4's market presence and service offerings, serving over 140,000 merchants [8].

Core Insights - Shift4 has been selected by the Ottawa Senators to manage food and beverage concession payments at Canadian Tire Centre [1] Company Overview - Shift4 is recognized as a leader in integrated payments and commerce technology [1] - The company offers an end-to-end commerce ecosystem tailored for sports and entertainment venues [1] Industry Impact - The partnership aims to enhance the ordering and payment experience for fans attending Ottawa Senators home games [1] - Shift4's technology simplifies the payment process, indicating a trend towards more efficient payment solutions in the sports and entertainment sector [1]

Core Insights - Darlington Partners Capital Management increased its stake in Shift4 Payments by 105,320 shares in Q3, bringing total holdings to nearly 5.1 million shares valued at $392.6 million, representing 13.3% of the fund's $3 billion in U.S. equity assets [2][3][7] Company Overview - Shift4 Payments is a leading provider of integrated payment and commerce technology, employing over 4,000 staff and serving a diverse merchant base [6] - The company focuses on omni-channel capabilities and value-added services, positioning itself competitively in the payments landscape, targeting sectors such as hospitality, retail, and e-commerce [6] Financial Performance - As of the latest market close, Shift4 Payments' stock price was $67.65, down 30% over the past year, while the S&P 500 increased nearly 14% in the same period [4] - Shift4 reported $589.2 million in gross revenue less network fees for the latest quarter, a 61% increase year-over-year, with adjusted EBITDA of $292.1 million at a 50% margin [10] Strategic Moves - The company authorized a $1 billion share repurchase program, the largest in its history, indicating confidence in its growth trajectory [10] - Darlington's investment strategy reflects a long-term commitment to Shift4, viewing it as a core business for future growth despite recent stock performance [9][11]

Core Insights - U.S. stocks experienced a rally in Q3, supported by the Federal Reserve's interest rate cut and steady economic data, with the Russell Midcap® Growth Index increasing by 2.78% [3][17] - The Wasatch U.S. Select Fund underperformed, declining by -1.93%, primarily due to concentrated holdings in stocks that faced slower revenue growth [3][4][17] Fund Performance Analysis - The Fund's performance was negatively impacted by a few concentrated stock holdings that reported slower revenue growth, leading to significant declines in their stock prices [4][6] - The investment strategy focuses on high-quality, long-duration growth companies, which faced headwinds as low-quality stocks gained favor in the market [7] Key Detractors - BellRing Brands, Inc. (BRBR) was the largest detractor, with concerns over competition in the protein shake category; however, the long-term outlook remains positive due to category growth potential [8] - Shift4 Payments, Inc. (FOUR) faced stock price declines despite solid organic revenue growth, attributed to macroeconomic concerns and investor sentiment following its acquisition of Global Blue [9] - Inspire Medical Systems, Inc. (INSP) was sold during the quarter after management downgraded guidance due to delays in product rollout, raising execution concerns [10] Top Contributors - Medpace Holdings, Inc. (MEDP) was the top contributor, with strong revenue and earnings growth, raising full-year guidance despite a slowdown in biotech funding [11] - Fabrinet (FN) benefited from strong product adoption, particularly in data centers linked to AI, although the investment is not solely based on AI themes [12] - Nova Ltd. (NVMI) also contributed positively, with a strong track record in semiconductor manufacturing, benefiting from increasing complexity in the industry [13] Future Outlook - The Fund remains committed to its investment philosophy, focusing on high-quality growth companies despite recent underperformance [14] - The fundamentals of the companies within the Fund are encouraging, with strong earnings growth expected to drive return potential over a three- to five-year horizon [15]

Core Insights - Wolf Hill Capital Management significantly reduced its stake in Shift4 Payments by selling 788,852 shares, resulting in an estimated change of $73.33 million based on quarterly average pricing [2][3] - Shift4 Payments shares were priced at $72.26 as of November 13, 2025, reflecting a 29% decline over the past year, underperforming the S&P 500 by 40 percentage points [3][4] Company Overview - Shift4 Payments is a leading provider of integrated payment and commerce technology, offering a diversified suite of products for businesses across multiple verticals [5] - The company generates revenue primarily through transaction processing fees, software subscriptions, and value-added services for merchants [7] - As of November 13, 2025, Shift4 Payments has a market capitalization of $6.43 billion and reported revenue of $3.88 billion with a net income of $194.80 million [4] Operational Performance - In the latest quarter, Shift4 Payments reported a 26% increase in payment volume and a 21% increase in operating cash flow [10] - The company is the number one payment provider for the hospitality and sports & entertainment verticals in the U.S. and has become the number two player in the U.S. restaurant industry [10] Competitive Position - Shift4 Payments operates in 75 countries and continues to acquire complementary businesses, positioning itself as a growth stock trading at 14 times forward earnings [11] - The company's competitive edge lies in its end-to-end technology stack, robust integrations, and focus on security and operational efficiency for merchants [8]