Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Priority Technology (NASDAQ:PRTH) Stock

Priority Technology (NASDAQ:PRTH) had its target price raised by investment analysts at Keefe, Bruyette & Woods from $9.00 to $10.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 12.74% from the company’s previous close.

A number of other research analysts have also commented on PRTH. B. Riley raised their price objective on shares of Priority Technology from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Lake Street Capital lifted 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.

Priority Technology Trading Up 6.2 %

PRTH stock traded up $0.52 during trading on Friday, hitting $8.87. The company had a trading volume of 38,860 shares, compared to its average volume of 56,832. The firm has a market capitalization of $684.50 million, a price-to-earnings ratio of -21.12 and a beta of 1.01. The business has a 50 day moving average of $6.59 and a 200 day moving average of $5.46. Priority Technology has a fifty-two week low of $2.79 and a fifty-two week high of $9.25.

Insider Buying and Selling

In related news, insider Sean Kiewiet sold 7,201 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $5.90, for a total transaction of $42,485.90. Following the completion of the sale, the insider now directly owns 1,094,652 shares in the company, valued at approximately $6,458,446.80. This trade represents a 0.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Rajiv Kumar sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $6.13, for a total transaction of $61,300.00. Following the transaction, the chief accounting officer now directly owns 11,587 shares in the company, valued at $71,028.31. The trade was a 46.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,302 shares of company stock worth $286,501. Corporate insiders own 76.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PRTH. Virtu Financial LLC acquired a new stake in shares of Priority Technology in the first quarter worth $50,000. Williams & Novak LLC acquired a new position in shares of Priority Technology during the second quarter valued at about $77,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Priority Technology in the first quarter valued at about $91,000. BNP Paribas Financial Markets grew its position in Priority Technology by 61.7% during the third quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock worth $109,000 after buying an additional 6,096 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Priority Technology in the 3rd quarter valued at approximately $112,000. 11.52% of the stock is currently owned by institutional investors and hedge funds.

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.