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

Keefe, Bruyette & Woods upgraded shares of Priority Technology (NASDAQ:PRTH) from a market perform rating to an outperform rating in a research report report published on Thursday, Marketbeat.com reports. Keefe, Bruyette & Woods currently has $14.00 price target on the stock, up from their previous price target of $10.00.

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

Priority Technology Stock Performance

Priority Technology stock opened at $8.66 on Thursday. The company has a market capitalization of $668.55 million, a price-to-earnings ratio of -20.62 and a beta of 1.17. The company’s 50 day simple moving average is $9.62 and its 200-day simple moving average is $7.07. Priority Technology has a 1 year low of $2.82 and a 1 year high of $12.44.

Insider Activity

In related news, insider Sean Kiewiet sold 22,178 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $10.01, for a total value of $222,001.78. Following the sale, the insider now owns 1,009,675 shares of the company’s stock, valued at $10,106,846.75. This trade represents a 2.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders sold 231,215 shares of company stock worth $2,360,486. 76.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Priority Technology

A number of large investors have recently modified their holdings of the company. Rebalance LLC purchased a new position in Priority Technology in the third quarter valued at $4,822,000. Geode Capital Management LLC lifted its holdings in Priority Technology by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 396,335 shares of the company’s stock worth $2,707,000 after buying an additional 21,598 shares during the last quarter. Corsair Capital Management L.P. increased its holdings in shares of Priority Technology by 10.5% in the 3rd quarter. Corsair Capital Management L.P. now owns 105,458 shares of the company’s stock valued at $720,000 after acquiring an additional 10,000 shares during the last quarter. Pekin Hardy Strauss Inc. raised its position in shares of Priority Technology by 17.0% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 66,675 shares of the company’s stock worth $455,000 after acquiring an additional 9,675 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Priority Technology by 15.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 56,557 shares of the company’s stock worth $386,000 after purchasing an additional 7,719 shares during the last quarter. 11.52% of the stock is owned by hedge funds and other institutional investors.

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.