Priority Technology (NASDAQ:PRTH) Raised to Outperform at Keefe, Bruyette & Woods

Priority Technology (NASDAQ:PRTH) was upgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a report released on Thursday,Briefing.com Automated Import reports. The firm presently has a $14.00 target price on the stock, up from their previous target price of $10.00. Keefe, Bruyette & Woods’ target price points to a potential upside of 75.00% from the stock’s current price.

A number of other equities analysts also recently weighed in on PRTH. B. Riley boosted their target price on shares of Priority Technology from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Lake Street Capital upped their target price on shares of Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 22nd.

Priority Technology Price Performance

NASDAQ:PRTH traded down $0.06 during trading hours on Thursday, reaching $8.00. 2,305,771 shares of the stock were exchanged, compared to its average volume of 584,081. The stock has a market cap of $617.60 million, a PE ratio of -19.05 and a beta of 1.17. Priority Technology has a twelve month low of $2.82 and a twelve month high of $12.44. The firm has a 50 day moving average of $9.59 and a 200 day moving average of $7.06.

Insider Buying and Selling

In other Priority Technology news, insider Sean Kiewiet sold 5,700 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $5.11, for a total value of $29,127.00. Following the transaction, the insider now directly owns 1,055,158 shares of the company’s stock, valued at $5,391,857.38. This represents a 0.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 231,215 shares of company stock valued at $2,360,486. Company insiders own 76.30% of the company’s stock.

Institutional Trading of Priority Technology

Institutional investors have recently bought and sold shares of the business. Virtu Financial LLC bought a new stake in shares of Priority Technology during the 3rd quarter valued at $91,000. BNP Paribas Financial Markets lifted its position in Priority Technology by 61.7% during the third quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock worth $109,000 after purchasing an additional 6,096 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Priority Technology during the third quarter worth about $112,000. Jane Street Group LLC grew its stake in Priority Technology by 6.1% during the third quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock worth $153,000 after buying an additional 1,293 shares in the last quarter. Finally, Barclays PLC increased its holdings in Priority Technology by 255.9% in the 3rd quarter. Barclays PLC now owns 26,064 shares of the company’s stock valued at $178,000 after buying an additional 18,741 shares during the period. Institutional investors own 11.52% of the company’s stock.

Priority Technology Company Profile

Priority Technology Holdings, Inc operates as a payment technology company in the United States. The company operates through three segments: Small and Medium-Sized Businesses (SMB) Payments, Business-To-Business (B2B) Payments, and Enterprise Payments. It offers SMB payments processing solutions for B2C transactions through independent sales organizations, financial institutions, independent software vendors, and other referral partners through its MX product suite, which includes MX Connect and MX Merchant products, such as MX Insights, MX Storefront, MX Retail, MX Invoice, MX B2B and ACH.com, and others, which provides flexible and customizable set of business applications that helps to manage critical business work functions and revenue performance to resellers and merchant clients using core payment processing.