Priority Technology (NASDAQ:PRTH) PT Raised to $5.00

Priority Technology (NASDAQ:PRTH) had its target price boosted by Keefe, Bruyette & Woods from $4.50 to $5.00 in a research note issued on Friday, Marketbeat reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential downside of 2.91% from the stock’s current price.

Priority Technology Stock Performance

Priority Technology stock traded up $0.09 during midday trading on Friday, hitting $5.15. 24,047 shares of the company were exchanged, compared to its average volume of 61,093. Priority Technology has a fifty-two week low of $2.62 and a fifty-two week high of $6.86. The firm has a market capitalization of $412.36 million, a PE ratio of -8.88 and a beta of 0.97. The business has a fifty day simple moving average of $5.00 and a two-hundred day simple moving average of $3.95.

Priority Technology (NASDAQ:PRTH) last posted its earnings results on Thursday, May 9th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. The firm had revenue of $205.72 million during the quarter, compared to analysts’ expectations of $209.08 million. Priority Technology had a net margin of 0.57% and a negative return on equity of 3.11%. During the same period in the previous year, the business posted ($0.15) EPS.

Insider Transactions at Priority Technology

In other news, insider Sean Kiewiet sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $5.02, for a total transaction of $50,200.00. Following the completion of the transaction, the insider now directly owns 1,101,853 shares of the company’s stock, valued at approximately $5,531,302.06. The sale was disclosed in a filing with the SEC, which is available at this link. In other Priority Technology news, Director John Vito Priore sold 598,187 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $3.56, for a total value of $2,129,545.72. Following the transaction, the director now owns 8,752,711 shares in the company, valued at approximately $31,159,651.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean Kiewiet sold 10,000 shares of Priority Technology stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $5.02, for a total transaction of $50,200.00. Following the sale, the insider now directly owns 1,101,853 shares in the company, valued at approximately $5,531,302.06. The disclosure for this sale can be found here. Insiders have sold a total of 728,180 shares of company stock valued at $2,709,353 in the last ninety days. 76.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Priority Technology

Large investors have recently bought and sold shares of the business. Panagora Asset Management Inc. increased its stake in shares of Priority Technology by 22.5% in the 4th quarter. Panagora Asset Management Inc. now owns 42,602 shares of the company’s stock worth $152,000 after acquiring an additional 7,812 shares during the last quarter. PFG Investments LLC acquired a new position in Priority Technology during the first quarter worth $37,000. State Board of Administration of Florida Retirement System acquired a new position in Priority Technology during the 1st quarter worth about $91,000. Vanguard Group Inc. boosted its holdings in Priority Technology by 25.7% during the 1st quarter. Vanguard Group Inc. now owns 762,631 shares of the company’s stock valued at $2,494,000 after acquiring an additional 156,044 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Priority Technology in the 1st quarter valued at about $164,000. 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.