PAR Technology (NYSE:PAR) Shares Gap Up – Still a Buy?

PAR Technology Corporation (NYSE:PAR)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $37.86, but opened at $40.53. PAR Technology shares last traded at $40.40, with a volume of 193,517 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PAR shares. The Goldman Sachs Group decreased their price target on shares of PAR Technology from $50.00 to $38.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. William Blair reiterated an “outperform” rating on shares of PAR Technology in a research report on Tuesday, October 14th. BTIG Research restated a “buy” rating on shares of PAR Technology in a report on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of PAR Technology in a research report on Monday, December 29th. Finally, Needham & Company LLC restated a “buy” rating and set a $55.00 price target on shares of PAR Technology in a research report on Friday, January 9th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $64.00.

PAR Technology Stock Down 3.4%

The firm’s fifty day moving average is $36.28 and its 200-day moving average is $45.24. The company has a current ratio of 1.70, a quick ratio of 1.51 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $1.56 billion, a P/E ratio of -17.93 and a beta of 1.35.

PAR Technology (NYSE:PAR) last announced its quarterly earnings results on Thursday, November 6th. The software maker reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $119.18 million for the quarter, compared to analyst estimates of $112.23 million. During the same period last year, the firm earned ($0.09) EPS. PAR Technology’s quarterly revenue was up 23.1% compared to the same quarter last year. As a group, equities research analysts predict that PAR Technology Corporation will post -1.47 earnings per share for the current year.

Insider Activity

In related news, CFO Bryan A. Menar sold 6,500 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $35.53, for a total transaction of $230,945.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Voss Capital, Lp acquired 25,000 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were purchased at an average price of $34.56 per share, for a total transaction of $864,000.00. Following the completion of the transaction, the insider directly owned 3,613,898 shares in the company, valued at approximately $124,896,314.88. This trade represents a 0.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 196,035 shares of company stock valued at $7,103,730 over the last 90 days. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PAR Technology

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of PAR Technology by 0.5% during the third quarter. Vanguard Group Inc. now owns 3,291,802 shares of the software maker’s stock worth $130,290,000 after purchasing an additional 15,131 shares during the period. Capital Research Global Investors boosted its holdings in PAR Technology by 17.3% in the 3rd quarter. Capital Research Global Investors now owns 3,237,004 shares of the software maker’s stock valued at $128,121,000 after purchasing an additional 476,839 shares during the period. Invesco Ltd. lifted its holdings in shares of PAR Technology by 24.1% during the 2nd quarter. Invesco Ltd. now owns 1,877,239 shares of the software maker’s stock worth $130,224,000 after acquiring an additional 364,892 shares during the period. Bamco Inc. NY lifted its position in shares of PAR Technology by 8.5% during the 2nd quarter. Bamco Inc. NY now owns 1,751,387 shares of the software maker’s stock worth $121,494,000 after buying an additional 137,434 shares during the period. Finally, Progeny 3 Inc. increased its position in shares of PAR Technology by 16.9% during the 3rd quarter. Progeny 3 Inc. now owns 1,732,318 shares of the software maker’s stock worth $68,565,000 after purchasing an additional 249,923 shares in the last quarter.

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.