PAR Technology’s (PAR) “Buy” Rating Reaffirmed at BTIG Research

BTIG Research restated their buy rating on shares of PAR Technology (NYSE:PAR) in a research note issued to investors on Friday morning,Benzinga reports. They currently have a $60.00 target price on the software maker’s stock.

A number of other equities analysts also recently issued reports on PAR. The Goldman Sachs Group lowered their price objective on PAR Technology from $50.00 to $38.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. William Blair restated an “outperform” rating on shares of PAR Technology in a research note on Tuesday, October 14th. Needham & Company LLC restated a “buy” rating and issued a $55.00 target price on shares of PAR Technology in a research note on Friday, January 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of PAR Technology in a report on Monday, December 29th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, PAR Technology has an average rating of “Moderate Buy” and an average target price of $64.00.

PAR Technology Trading Down 4.8%

Shares of PAR Technology stock opened at $26.24 on Friday. The business’s 50 day moving average is $35.15 and its 200-day moving average is $42.40. The stock has a market cap of $1.07 billion, a P/E ratio of -12.26 and a beta of 1.35. The company has a quick ratio of 1.51, a current ratio of 1.70 and a debt-to-equity ratio of 0.45. PAR Technology has a 12-month low of $25.97 and a 12-month high of $74.13.

PAR Technology (NYSE:PAR) last announced its earnings results on Thursday, November 6th. The software maker reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). PAR Technology had a negative return on equity of 2.56% and a negative net margin of 19.21%.The company had revenue of $119.18 million for the quarter, compared to the consensus estimate of $112.23 million. During the same period in the previous year, the firm posted ($0.09) EPS. The business’s quarterly revenue was up 23.1% on a year-over-year basis. Equities research analysts predict that PAR Technology will post -1.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Voss Capital, Lp purchased 146,789 shares of the firm’s stock in a transaction on Tuesday, December 30th. The shares were acquired at an average price of $36.51 per share, for a total transaction of $5,359,266.39. Following the purchase, the insider directly owned 3,564,652 shares in the company, valued at $130,145,444.52. This trade represents a 4.29% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Bryan A. Menar sold 6,500 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $35.53, for a total transaction of $230,945.00. Following the sale, the chief financial officer owned 71,481 shares in the company, valued at $2,539,719.93. This represents a 8.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders purchased 196,035 shares of company stock worth $7,103,730. 3.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PAR Technology

Hedge funds have recently bought and sold shares of the business. Huntington National Bank boosted its stake in shares of PAR Technology by 66.2% during the second quarter. Huntington National Bank now owns 437 shares of the software maker’s stock valued at $30,000 after purchasing an additional 174 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of PAR Technology by 68.6% during the second quarter. Advisors Asset Management Inc. now owns 563 shares of the software maker’s stock worth $39,000 after buying an additional 229 shares during the period. FNY Investment Advisers LLC purchased a new stake in PAR Technology during the 3rd quarter valued at about $26,000. Aster Capital Management DIFC Ltd acquired a new position in PAR Technology in the 3rd quarter worth approximately $28,000. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of PAR Technology in the third quarter worth $36,000.

PAR Technology Company Profile

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.