PAR Technology Corporation (NYSE:PAR) Receives Average Recommendation of “Moderate Buy” from Brokerages

PAR Technology Corporation (NYSE:PAR) has earned an average rating of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $25.8889.

Several equities analysts have recently commented on PAR shares. JPMorgan Chase & Co. upped their price target on shares of PAR Technology from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. Royal Bank Of Canada set a $16.00 price objective on shares of PAR Technology in a research report on Tuesday, June 9th. Needham & Company LLC reduced their target price on shares of PAR Technology from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Weiss Ratings restated a “sell (d-)” rating on shares of PAR Technology in a research report on Friday, March 27th. Finally, Benchmark dropped their price target on shares of PAR Technology from $42.00 to $33.00 and set a “buy” rating on the stock in a research note on Monday, March 16th.

PAR Technology Trading Down 0.2%

NYSE:PAR opened at $19.01 on Friday. PAR Technology has a 12-month low of $11.59 and a 12-month high of $72.15. The firm has a market capitalization of $784.20 million, a P/E ratio of -10.17 and a beta of 1.32. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.10 and a quick ratio of 1.83. The business has a 50 day simple moving average of $14.99 and a 200 day simple moving average of $20.76.

PAR Technology (NYSE:PAR) last issued its earnings results on Thursday, May 7th. The software maker reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.03. The firm had revenue of $123.97 million for the quarter, compared to analyst estimates of $116.88 million. PAR Technology had a negative return on equity of 2.57% and a negative net margin of 16.04%.The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period last year, the company earned ($0.01) earnings per share. Equities research analysts predict that PAR Technology will post -0.16 EPS for the current year.

Insider Activity at PAR Technology

In other news, insider Cathy A. King sold 20,000 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $15.38, for a total value of $307,600.00. Following the completion of the transaction, the insider owned 122,919 shares of the company’s stock, valued at approximately $1,890,494.22. This represents a 13.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Voss Capital, Lp bought 156,249 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was bought at an average price of $14.85 per share, with a total value of $2,320,297.65. Following the transaction, the insider directly owned 5,125,000 shares in the company, valued at $76,106,250. This represents a 3.14% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders purchased 1,069,900 shares of company stock worth $15,568,965. 2.30% of the stock is owned by insiders.

Institutional Trading of PAR Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. FNY Investment Advisers LLC bought a new position in shares of PAR Technology in the third quarter valued at approximately $26,000. State of Wyoming acquired a new position in shares of PAR Technology during the fourth quarter valued at approximately $34,000. Kestra Advisory Services LLC bought a new stake in PAR Technology during the fourth quarter worth approximately $35,000. Versant Capital Management Inc raised its holdings in PAR Technology by 325.5% during the second quarter. Versant Capital Management Inc now owns 5,110 shares of the software maker’s stock worth $89,000 after purchasing an additional 3,909 shares in the last quarter. Finally, Central Pacific Bank Trust Division lifted its position in PAR Technology by 50.0% in the fourth quarter. Central Pacific Bank Trust Division now owns 3,000 shares of the software maker’s stock worth $109,000 after purchasing an additional 1,000 shares during the period.

About PAR Technology

PAR Technology Corp is a provider of enterprise software and hardware solutions for the hospitality, foodservice and retail industries. The company’s platforms are designed to streamline front- and back-of-house operations, covering point-of-sale (POS) systems, kitchen display and dispatch, inventory and labor management, and reporting tools. PAR’s integrated approach enables operators of full-service restaurants, quick-service chains, bars, hotels, casinos and retail outlets to centralize data and automate workflows across multiple sites.

Key offerings include PAR Brink, a cloud-native POS application that supports touchscreen, mobile and tablet devices; PAR Cloud Services, which delivers software updates, reporting and analytics through a subscription model; and hardware solutions such as payment terminals, handheld devices and self-service kiosks.