Priority Technology (NASDAQ:PRTH) Rating Increased to Strong-Buy at TD Cowen

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

PRTH has been the topic of a number of other research reports. B. Riley boosted their price objective on Priority Technology from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Lake Street Capital boosted their target price on Priority Technology from $8.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $12.00 target price (down from $14.00) on shares of Priority Technology in a research report on Friday, March 7th.

Priority Technology Stock Performance

PRTH opened at $7.91 on Tuesday. Priority Technology has a one year low of $2.82 and a one year high of $12.47. The stock’s fifty day moving average is $9.62 and its 200-day moving average is $8.43. The company has a market capitalization of $629.00 million, a PE ratio of -18.83 and a beta of 0.99.

Insider Activity

In other Priority Technology news, Director John Vito Priore sold 3,454,575 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $7.44, for a total value of $25,702,038.00. Following the transaction, the director now owns 5,314,430 shares in the company, valued at $39,539,359.20. The trade was a 39.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Sean Kiewiet sold 170,596 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were 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 in the company, valued at $7,545,641.80. This trade represents a 19.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,293,027 shares of company stock worth $39,919,204. 76.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PRTH. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Priority Technology in the third quarter valued at about $112,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Priority Technology by 15.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 56,557 shares of the company’s stock worth $386,000 after acquiring an additional 7,719 shares in the last quarter. Pekin Hardy Strauss Inc. boosted its stake in shares of Priority Technology by 17.0% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 66,675 shares of the company’s stock worth $455,000 after acquiring an additional 9,675 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Priority Technology by 61.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock worth $109,000 after acquiring an additional 6,096 shares in the last quarter. Finally, Corsair Capital Management L.P. boosted its stake in shares of Priority Technology by 10.5% during the 3rd quarter. Corsair Capital Management L.P. now owns 105,458 shares of the company’s stock worth $720,000 after acquiring an additional 10,000 shares in 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.