Priority Technology (NASDAQ:PRTH) Upgraded at Keefe, Bruyette & Woods

Priority Technology (NASDAQ:PRTH) was upgraded by equities research analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a report released on Thursday, Marketbeat Ratings reports. The brokerage currently has a $14.00 target price on the stock, up from their prior target price of $10.00. Keefe, Bruyette & Woods’ target price indicates a potential upside of 57.30% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Lake Street Capital boosted their price objective 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. B. Riley boosted their price target on Priority Technology from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, November 25th.

Priority Technology Trading Up 2.8 %

NASDAQ:PRTH opened at $8.90 on Thursday. Priority Technology has a twelve month low of $2.82 and a twelve month high of $12.44. The company has a market cap of $687.06 million, a PE ratio of -21.19 and a beta of 1.17. The company’s 50 day moving average is $9.66 and its two-hundred day moving average is $7.08.

Insider Activity

In related news, insider Sean Kiewiet sold 170,596 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $10.60, for a total transaction of $1,808,317.60. Following the completion of the transaction, the insider now directly owns 711,853 shares in the company, valued at $7,545,641.80. The trade was a 19.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 231,215 shares of company stock valued at $2,360,486 in the last ninety days. Insiders own 76.30% of the company’s stock.

Institutional Investors Weigh In On Priority Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in shares of Priority Technology in the 4th quarter valued at about $100,000. Ritholtz Wealth Management lifted its holdings in Priority Technology by 99.1% in the fourth quarter. Ritholtz Wealth Management now owns 24,780 shares of the company’s stock valued at $291,000 after acquiring an additional 12,336 shares during the period. JPMorgan Chase & Co. boosted its position in Priority Technology by 273.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,900 shares of the company’s stock worth $232,000 after purchasing an additional 24,811 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Priority Technology during the 3rd quarter worth approximately $91,000. Finally, Barclays PLC increased its holdings in shares of Priority Technology by 255.9% during the 3rd quarter. Barclays PLC now owns 26,064 shares of the company’s stock valued at $178,000 after purchasing an additional 18,741 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.