PAR Technology Corporation (NYSE:PAR) Receives $30.67 Average Target Price from Analysts

PAR Technology Corporation (NYSE:PAR) has been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $30.6667.

A number of research firms have recently issued reports on PAR. Jefferies Financial Group set a $18.00 price objective on shares of PAR Technology in a research report on Saturday, May 9th. Needham & Company LLC cut their price objective on shares of PAR Technology from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. BTIG Research cut their price objective on shares of PAR Technology from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. William Blair reaffirmed an “outperform” rating on shares of PAR Technology in a research report on Friday, March 13th. 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 report on Monday, March 16th.

PAR Technology Price Performance

PAR stock opened at $14.03 on Friday. The stock has a market capitalization of $578.53 million, a PE ratio of -7.50 and a beta of 1.32. The company’s 50-day moving average is $14.19 and its 200-day moving average is $25.46. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.10 and a quick ratio of 1.83. PAR Technology has a 1 year low of $11.59 and a 1 year high of $72.15.

PAR Technology (NYSE:PAR) last released its quarterly earnings data on Thursday, May 7th. The software maker reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The company had revenue of $123.97 million for the quarter, compared to analysts’ expectations of $116.88 million. PAR Technology had a negative net margin of 16.04% and a negative return on equity of 2.57%. The business’s revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.01) EPS. Equities research analysts expect that PAR Technology will post -0.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other PAR Technology news, major shareholder Voss Capital, Lp purchased 594,900 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average price of $14.59 per share, with a total value of $8,679,591.00. Following the transaction, the insider owned 4,675,000 shares in the company, valued at $68,208,250. The trade was a 14.58% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Michael Anthony Steenberge sold 2,342 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $17.49, for a total transaction of $40,961.58. Following the completion of the transaction, the chief accounting officer directly owned 26,439 shares in the company, valued at approximately $462,418.11. The trade was a 8.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 90,689 shares of company stock worth $1,600,226 in the last 90 days. Company insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On PAR Technology

Several large investors have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. lifted its position in 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 valued at $214,650,000 after acquiring an additional 201,782 shares in the last quarter. Vanguard Group Inc. increased its stake in PAR Technology by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 3,304,052 shares of the software maker’s stock valued at $119,871,000 after buying an additional 12,250 shares during the last quarter. Capital Research Global Investors increased its stake 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 buying an additional 476,839 shares during the last quarter. Progeny 3 Inc. increased its stake in PAR Technology by 5.6% in the 1st quarter. Progeny 3 Inc. now owns 2,170,808 shares of the software maker’s stock valued at $28,937,000 after buying an additional 114,500 shares during the last quarter. Finally, Reinhart Partners LLC. increased its stake in PAR Technology by 45.6% in the 4th 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.

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.