Priority Technology (NASDAQ:PRTH) Upgraded at TD Cowen

TD Cowen upgraded shares of Priority Technology (NASDAQ:PRTH) to a strong-buy rating in a research note published on Tuesday morning,Zacks.com reports.

A number of other brokerages have also commented on PRTH. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $12.00 price objective (down from $14.00) on shares of Priority Technology in a research report on Friday, March 7th. Lake Street Capital increased their price objective on Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, B. Riley increased their price objective on Priority Technology from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Monday, November 25th.

Priority Technology Stock Performance

Shares of PRTH opened at $8.03 on Tuesday. The firm has a market capitalization of $638.54 million, a price-to-earnings ratio of -19.12 and a beta of 0.99. The business’s fifty day moving average price is $9.55 and its two-hundred day moving average price is $8.43. Priority Technology has a 52 week low of $2.82 and a 52 week high of $12.47.

Insider Transactions at Priority Technology

In related news, COO Ranjana Ram sold 18,385 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $7.44, for a total transaction of $136,784.40. Following the sale, the chief operating officer now owns 693,004 shares of the company’s stock, valued at approximately $5,155,949.76. This trade represents a 2.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John Vito Priore sold 1,242,856 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $7.44, for a total value of $9,246,848.64. Following the sale, the director now directly owns 4,071,574 shares in the company, valued at $30,292,510.56. The trade was a 23.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,293,027 shares of company stock worth $39,919,204 in the last three months. Insiders own 76.30% of the company’s stock.

Institutional Trading of Priority Technology

Hedge funds have recently added to or reduced their stakes in the business. National Bank of Canada FI acquired a new stake in shares of Priority Technology in the 4th quarter valued at about $56,000. Deutsche Bank AG acquired a new stake in shares of Priority Technology in the 4th quarter valued at about $60,000. SG Americas Securities LLC acquired a new stake in shares of Priority Technology in the 4th quarter valued at about $100,000. Wells Fargo & Company MN raised its stake in shares of Priority Technology by 53.8% in the 4th quarter. Wells Fargo & Company MN now owns 8,593 shares of the company’s stock valued at $101,000 after purchasing an additional 3,006 shares during the period. Finally, Corient Private Wealth LLC acquired a new stake in shares of Priority Technology in the 4th quarter valued at about $118,000. Institutional investors and hedge funds 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.