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

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

PRTH has been the topic of several other research reports. Lake Street Capital boosted their price target on 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 Priority Technology from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, September 23rd.

Priority Technology Stock Performance

Shares of Priority Technology stock opened at $8.74 on Friday. The company’s fifty day moving average is $6.68 and its two-hundred day moving average is $5.56. Priority Technology has a 1 year low of $2.79 and a 1 year high of $9.85. The company has a market capitalization of $674.47 million, a P/E ratio of -20.81 and a beta of 1.01.

Insider Activity

In other Priority Technology news, CAO Rajiv Kumar sold 10,000 shares of the 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sean Kiewiet sold 7,201 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $5.90, for a total value of $42,485.90. Following the completion of the sale, the insider now directly owns 1,094,652 shares of the company’s stock, valued at approximately $6,458,446.80. This trade represents a 0.65 % decrease in their position. 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 quarter. Corporate insiders own 76.30% of the company’s stock.

Hedge Funds Weigh In On Priority Technology

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position 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 buying an additional 156,044 shares during the period. Rebalance LLC purchased a new stake in shares of Priority Technology during the 3rd quarter worth approximately $4,822,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Priority Technology during the 1st quarter worth approximately $164,000. Renaissance Technologies LLC acquired a new stake in shares of Priority Technology in the 2nd quarter worth approximately $202,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in Priority Technology in the 1st quarter valued at approximately $91,000. Hedge funds and other institutional investors own 11.52% of the company’s stock.

About Priority Technology

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.