Priority Technology (NASDAQ:PRTH) Upgraded at Zacks Research

Zacks Research upgraded shares of Priority Technology (NASDAQ:PRTH) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the company. Cowen restated a “buy” rating on shares of Priority Technology in a research note on Friday, August 8th. Wall Street Zen upgraded Priority Technology from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Finally, Keefe, Bruyette & Woods decreased their target price on Priority Technology from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $13.00.

Priority Technology Stock Performance

Priority Technology stock opened at $8.43 on Thursday. Priority Technology has a fifty-two week low of $4.91 and a fifty-two week high of $12.47. The stock’s fifty day moving average is $7.62 and its two-hundred day moving average is $7.96. The firm has a market capitalization of $673.73 million, a price-to-earnings ratio of 32.42 and a beta of 1.51.

Priority Technology (NASDAQ:PRTH) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. Priority Technology had a negative return on equity of 47.35% and a net margin of 4.03%.The firm had revenue of $239.81 million during the quarter, compared to analyst estimates of $239.63 million. Priority Technology has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Priority Technology will post -0.09 EPS for the current fiscal year.

Insider Activity at Priority Technology

In related news, General Counsel Bradley J. Miller sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $8.55, for a total value of $855,000.00. Following the sale, the general counsel owned 243,620 shares of the company’s stock, valued at approximately $2,082,951. This trade represents a 29.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 66.20% of the company’s stock.

Institutional Trading of Priority Technology

Hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in shares of Priority Technology in the 2nd quarter worth approximately $29,000. AlphaQuest LLC bought a new stake in shares of Priority Technology in the 1st quarter worth approximately $37,000. Strs Ohio bought a new stake in shares of Priority Technology in the 1st quarter worth approximately $46,000. CWM LLC lifted its holdings in shares of Priority Technology by 13,386.7% in the 1st quarter. CWM LLC now owns 8,092 shares of the company’s stock worth $55,000 after purchasing an additional 8,032 shares during the last quarter. Finally, US Bancorp DE bought a new stake in shares of Priority Technology in the 1st quarter worth approximately $58,000. 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.