Priority Technology Holdings, Inc. (NASDAQ:PRTH) Shares Purchased by Northern Trust Corp

Northern Trust Corp increased its holdings in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) by 16.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 189,888 shares of the company’s stock after acquiring an additional 27,379 shares during the quarter. Northern Trust Corp owned about 0.25% of Priority Technology worth $2,231,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PRTH. National Bank of Canada FI acquired a new position in Priority Technology in the 4th quarter valued at about $56,000. SG Americas Securities LLC acquired a new position in Priority Technology in the 4th quarter valued at about $100,000. Wells Fargo & Company MN boosted its holdings in Priority Technology by 53.8% in 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 last quarter. Corient Private Wealth LLC acquired a new position in Priority Technology in the 4th quarter valued at about $118,000. Finally, Quantbot Technologies LP acquired a new position in Priority Technology in the 4th quarter valued at about $125,000. 11.52% of the stock is currently owned by institutional investors and hedge funds.

Priority Technology Stock Performance

Priority Technology stock opened at $7.66 on Monday. The company’s 50 day simple moving average is $7.16 and its 200-day simple moving average is $8.78. The company has a market capitalization of $610.91 million, a price-to-earnings ratio of -18.24 and a beta of 1.50. Priority Technology Holdings, Inc. has a 1 year low of $3.92 and a 1 year high of $12.47.

Priority Technology (NASDAQ:PRTH) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.12. The business had revenue of $224.63 million for the quarter, compared to the consensus estimate of $228.81 million. Priority Technology had a net margin of 1.96% and a negative return on equity of 15.86%. Equities analysts expect that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on PRTH. Keefe, Bruyette & Woods decreased their target price on shares of Priority Technology from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. TD Cowen upgraded shares of Priority Technology to a “strong-buy” rating in a report on Tuesday, March 18th.

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.