Priority Technology (NASDAQ:PRTH) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Priority Technology (NASDAQ:PRTH) had its target price lifted by equities researchers at Keefe, Bruyette & Woods from $9.00 to $10.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 12.74% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. Lake Street Capital increased their target price on shares of Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a research report on Friday. B. Riley lifted their target price on shares of Priority Technology from $11.00 to $13.00 and gave the company a “buy” rating in a report on Monday, September 23rd.

Priority Technology Price Performance

PRTH stock traded up $0.52 during midday trading on Friday, hitting $8.87. 38,860 shares of the stock traded hands, compared to its average volume of 56,832. Priority Technology has a 1-year low of $2.79 and a 1-year high of $9.25. The stock’s fifty day simple moving average is $6.59 and its 200-day simple moving average is $5.46. The firm has a market cap of $684.50 million, a P/E ratio of -21.12 and a beta of 1.01.

Insider Buying and Selling

In other news, CAO Rajiv Kumar sold 10,000 shares of Priority Technology stock in a transaction on Friday, September 13th. The stock was 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 of the company’s stock, valued at $71,028.31. The trade was a 46.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean Kiewiet sold 4,954 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $5.41, for a total transaction of $26,801.14. Following the transaction, the insider now directly owns 1,085,158 shares in the company, valued at approximately $5,870,704.78. This represents a 0.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,302 shares of company stock valued at $286,501 over the last quarter. Company insiders own 76.30% of the company’s stock.

Institutional Investors Weigh In On Priority Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Priority Technology by 25.7% during the 1st 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 during the period. Rebalance LLC bought a new stake in Priority Technology in the third quarter valued at $4,822,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Priority Technology during the first quarter valued at $164,000. Renaissance Technologies LLC bought a new position in shares of Priority Technology during the second quarter worth about $202,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in Priority Technology in the 1st quarter valued at about $91,000. 11.52% of the stock is currently 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.