PAR Technology (NYSE:PAR) Price Target Raised to $18.00

PAR Technology (NYSE:PAR) had its price objective increased by analysts at JPMorgan Chase & Co. from $17.00 to $18.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the software maker’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 7.53% from the company’s previous close.

Other analysts have also issued research reports about the stock. The Goldman Sachs Group lifted their price target on shares of PAR Technology from $18.00 to $20.50 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Royal Bank Of Canada set a $16.00 price objective on shares of PAR Technology in a report on Tuesday, June 9th. UBS Group set a $16.00 target price on shares of PAR Technology in a research report on Tuesday, June 9th. Needham & Company LLC cut their target price on shares of PAR Technology from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PAR Technology in a research report on Friday, July 10th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.61.

PAR Technology Stock Down 2.2%

NYSE PAR traded down $0.38 during mid-day trading on Friday, reaching $16.74. 535,653 shares of the company’s stock traded hands, compared to its average volume of 1,494,143. The company has a current ratio of 2.10, a quick ratio of 1.83 and a debt-to-equity ratio of 0.51. PAR Technology has a 1-year low of $11.59 and a 1-year high of $58.85. The company has a fifty day simple moving average of $16.15 and a 200-day simple moving average of $17.24. The company has a market cap of $690.46 million, a price-to-earnings ratio of -8.95 and a beta of 1.33.

PAR Technology (NYSE:PAR) last announced its earnings results on Thursday, May 7th. The software maker reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The company 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%.PAR Technology’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.01) EPS. As a group, equities research analysts expect that PAR Technology will post -0.16 EPS for the current year.

Insider Buying and Selling at PAR Technology

In other PAR Technology news, major shareholder Voss Capital, Lp purchased 156,249 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was acquired at an average cost of $14.85 per share, with a total value of $2,320,297.65. Following the acquisition, the insider owned 5,125,000 shares of the company’s stock, valued at approximately $76,106,250. This represents a 3.14% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Cathy A. King sold 20,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $15.38, for a total transaction of $307,600.00. Following the sale, the insider directly owned 122,919 shares of the company’s stock, valued at approximately $1,890,494.22. This represents a 13.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have acquired 1,069,900 shares of company stock valued at $15,568,965. 2.30% of the stock is owned by insiders.

Hedge Funds Weigh In On PAR Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. lifted its holdings in shares of PAR Technology by 3.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,916,459 shares of the software maker’s stock worth $214,650,000 after purchasing an additional 201,782 shares during the last quarter. Vanguard Group Inc. grew its stake in PAR Technology by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 3,304,052 shares of the software maker’s stock worth $119,871,000 after buying an additional 12,250 shares during the last quarter. Progeny 3 Inc. increased its position in PAR Technology by 5.6% in the first quarter. Progeny 3 Inc. now owns 2,170,808 shares of the software maker’s stock worth $28,937,000 after buying an additional 114,500 shares during the period. Reinhart Partners LLC. lifted its stake in PAR Technology by 45.6% in the fourth quarter. Reinhart Partners LLC. now owns 1,309,860 shares of the software maker’s stock valued at $47,522,000 after buying an additional 410,183 shares during the last quarter. Finally, Greenstone Partners & Co. LLC acquired a new position in shares of PAR Technology during the fourth quarter valued at $36,981,000.

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.