Keefe, Bruyette & Woods increased their price target on Priority Technology (NASDAQ:PRTH – free report ) from $4.50 to $5.00 in a research note issued on Friday, MarketBeat Ratings reports. Keefe, Bruyette & Woods currently rates the stock at about market average.
Preferred technology deals up 1.8%
Priority Technology shares opened trading at $5.15 on Friday. The stock has a market capitalization of $412.36 million, a price-to-earnings ratio of -8.88 and a beta of 0.97. The company's 50-day moving average price is $5.00 and its 200-day moving average price is $3.95. Priority Technology's low over the past year is $2.62 and its high over the past year is $6.86.
Priority Technology (NASDAQ:PRTH – get free report ) released its quarterly earnings report on Thursday, May 9th. The company reported quarterly EPS of ($0.10), beating analysts' consensus estimates of ($0.12) by $0.02. The company's revenue for the quarter was $205.72 million, beating analysts' estimates of $209.08 million. Priority Technology had an ROE of -3.11% and a net margin of 0.57%. Year-ago EPS were ($0.15).
Internal Activities at Priority Technology
In other Priority Technology news, insider Sean Kiewiet sold 10,000 shares of the company's stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $5.02, for a total transaction value of $50,200.00. Following the sale, the insider now owns 1,101,853 shares of the company's stock, valued at approximately $5,531,302.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director John Vito Priore sold 598,187 shares of the company's stock in a transaction on Friday, June 14th. The shares were sold at an average price of $3.56, for a total transaction value of $2,129,545.72. Following the completion of the sale, the director now owns 8,752,711 shares of the company's stock, valued at $31,159,651.16. The transaction was disclosed in a filing with the SEC, available at this link. Additionally, insider Sean Kiewiet sold 10,000 shares of the company's stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $5.02, for a total value of $50,200.00. Following the completion of the transaction, the insider now owns 1,101,853 shares of the company's stock, valued at approximately $5,531,302.06. The disclosure for this sale can be found here. Insiders have sold 728,180 shares of the company's stock in the last 90 days, valued at $2,709,353. 76.30% of the stock is owned by insiders.
Institutional trading of preferred technologies
Several institutional investors and hedge funds have recently added to or reduced shares in PRTH. PFG Investments LLC purchased a new stake in Priority Technology in the first quarter for approximately $37,000. Williams & Novak LLC purchased a new stake in Priority Technology in the second quarter for $77,000. Virtu Financial LLC purchased a new stake in Priority Technology in the first quarter for $50,000. Florida State Retirement System Trustee purchased a new stake in Priority Technology in the first quarter for $91,000. Finally, Renaissance Technologies LLC purchased a new stake in Priority Technology in the second quarter for $202,000. 11.52% of the stock is owned by institutional investors.
About Priority Technology
(Get your free report)
Priority Technology Holdings, Inc operates as a payments technology company in the United States. The company operates through three segments: Small and Medium Business (SMB) Payments, Business to Business (B2B) Payments, and Enterprise Payments. Through its MX product suite, the company offers SMB payment processing solutions for B2C transactions through independent sales organizations, financial institutions, independent software vendors, and other referral partners. The MX product suite includes MX Connect and MX Merchant products such as MX Insights, MX Storefront, MX Retail, MX Invoice, MX B2B, and ACH.com, providing its core payment processing reseller and merchant clients with a flexible, customizable set of business applications that help them manage their critical business operational functions and revenue performance.
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