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

Priority Technology (NASDAQ:PRTH) had its price target reduced by equities research analysts at Keefe, Bruyette & Woods from $12.00 to $10.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 49.03% from the stock’s previous close.

Separately, TD Cowen upgraded shares of Priority Technology to a “strong-buy” rating in a report on Tuesday, March 18th.

Priority Technology Stock Performance

Shares of Priority Technology stock opened at $6.71 on Wednesday. The stock has a market capitalization of $535.14 million, a price-to-earnings ratio of -15.98 and a beta of 1.50. The company has a fifty day moving average of $7.25 and a 200-day moving average of $8.61. Priority Technology has a 52-week low of $3.35 and a 52-week high of $12.47.

Priority Technology (NASDAQ:PRTH) last released its earnings results on Tuesday, May 6th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.12. Priority Technology had a negative return on equity of 15.86% and a net margin of 1.96%. The company had revenue of $224.63 million during the quarter, compared to analyst estimates of $228.81 million. On average, equities research analysts forecast that Priority Technology will post -0.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PRTH. Jane Street Group LLC grew its position in shares of Priority Technology by 6.1% in the 3rd quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock worth $153,000 after buying an additional 1,293 shares during the last quarter. Rhumbline Advisers boosted its holdings in Priority Technology by 9.0% in the fourth quarter. Rhumbline Advisers now owns 23,706 shares of the company’s stock valued at $279,000 after acquiring an additional 1,964 shares in the last quarter. Wells Fargo & Company MN increased its position in Priority Technology by 53.8% during the 4th quarter. Wells Fargo & Company MN now owns 8,593 shares of the company’s stock valued at $101,000 after purchasing an additional 3,006 shares during the period. Barclays PLC raised its holdings in Priority Technology by 11.8% in the 4th quarter. Barclays PLC now owns 29,127 shares of the company’s stock worth $342,000 after purchasing an additional 3,063 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Priority Technology by 8.7% in the 1st quarter. Bank of New York Mellon Corp now owns 43,143 shares of the company’s stock worth $294,000 after purchasing an additional 3,450 shares during the period. 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.