Priority Technology (NASDAQ:PRTH) Earns Outperform Rating from Keefe, Bruyette & Woods

Priority Technology (NASDAQ:PRTH)‘s stock had its “outperform” rating reaffirmed by investment analysts at Keefe, Bruyette & Woods in a research note issued to investors on Friday,Benzinga reports. They currently have a $12.00 price target on the stock, down from their prior price target of $14.00. Keefe, Bruyette & Woods’ target price suggests a potential upside of 56.66% from the stock’s current price.

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

Priority Technology Trading Down 1.2 %

NASDAQ PRTH opened at $7.66 on Friday. The business’s 50-day moving average price is $10.28 and its 200 day moving average price is $8.32. Priority Technology has a twelve month low of $2.82 and a twelve month high of $12.47. The company has a market capitalization of $591.34 million, a PE ratio of -18.24 and a beta of 0.99.

Insider Transactions at Priority Technology

In related news, insider Sean Kiewiet sold 170,596 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $10.60, for a total value of $1,808,317.60. Following the completion of the transaction, the insider now owns 711,853 shares of the company’s stock, valued at approximately $7,545,641.80. This represents a 19.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Thomas Charles Priore sold 105,833 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $7.44, for a total value of $787,397.52. Following the sale, the chief executive officer now owns 33,919,486 shares of the company’s stock, valued at approximately $252,360,975.84. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,293,227 shares of company stock valued at $39,921,204. Corporate insiders own 76.30% of the company’s stock.

Institutional Trading of Priority Technology

Several institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC increased its position in shares of Priority Technology by 6.1% in the 3rd quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock worth $153,000 after purchasing an additional 1,293 shares during the last quarter. Rhumbline Advisers grew its stake in Priority Technology by 9.0% in the fourth quarter. Rhumbline Advisers now owns 23,706 shares of the company’s stock worth $279,000 after purchasing an additional 1,964 shares in the last quarter. Wells Fargo & Company MN grew its stake in Priority Technology by 53.8% in the fourth quarter. Wells Fargo & Company MN now owns 8,593 shares of the company’s stock worth $101,000 after purchasing an additional 3,006 shares in the last quarter. Barclays PLC increased its holdings in Priority Technology by 11.8% in the fourth quarter. Barclays PLC now owns 29,127 shares of the company’s stock valued at $342,000 after buying an additional 3,063 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Priority Technology by 12.4% during the fourth quarter. Bank of New York Mellon Corp now owns 39,693 shares of the company’s stock valued at $466,000 after buying an additional 4,366 shares in the last quarter. 11.52% of the stock is owned by institutional investors and hedge funds.

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.