Keefe, Bruyette & Woods Boosts Priority Technology (NASDAQ:PRTH) Price Target to $10.00

Priority Technology (NASDAQ:PRTH) had its price target boosted by Keefe, Bruyette & Woods from $9.00 to $10.00 in a research report report published on Friday,Benzinga reports. They currently have a market perform rating on the stock.

Several other brokerages have also recently commented on PRTH. B. Riley raised their price target on shares of Priority Technology from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. 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 note on Friday.

Priority Technology Stock Performance

Shares of PRTH opened at $8.74 on Friday. The stock has a market capitalization of $674.47 million, a PE ratio of -20.81 and a beta of 1.01. The company’s 50-day simple moving average is $6.68 and its 200-day simple moving average is $5.56. Priority Technology has a 1 year low of $2.79 and a 1 year high of $9.85.

Insider Activity at Priority Technology

In related news, insider Sean Kiewiet sold 7,201 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $5.90, for a total value of $42,485.90. Following the transaction, the insider now owns 1,094,652 shares of the company’s stock, valued at $6,458,446.80. This represents a 0.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Rajiv Kumar sold 10,000 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $6.13, for a total value of $61,300.00. Following the completion of the sale, the chief accounting officer now owns 11,587 shares in the company, valued at approximately $71,028.31. This represents a 46.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,302 shares of company stock valued at $286,501 over the last 90 days. 76.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Priority Technology

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Priority Technology by 25.7% during the first quarter. Vanguard Group Inc. now owns 762,631 shares of the company’s stock worth $2,494,000 after purchasing an additional 156,044 shares in the last quarter. Rebalance LLC purchased a new position in shares of Priority Technology in the 3rd quarter valued at $4,822,000. Geode Capital Management LLC raised its stake 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 acquiring an additional 21,598 shares in the last quarter. Corsair Capital Management L.P. lifted its position in Priority Technology by 10.5% in the third 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. Finally, Pekin Hardy Strauss Inc. lifted its position in Priority Technology by 17.0% in the third quarter. Pekin Hardy Strauss Inc. now owns 66,675 shares of the company’s stock valued at $455,000 after acquiring an additional 9,675 shares during the last quarter. Hedge funds and other 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.