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

Shares of PAR Technology Corporation (NYSE:PAR) have been given an average rating of “Moderate Buy” by the eight analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $24.6111.

Several equities research analysts have commented on the company. Royal Bank Of Canada set a $16.00 target price on PAR Technology in a report on Tuesday, June 9th. Weiss Ratings reiterated a “sell (e+)” rating on shares of PAR Technology in a research note on Friday, July 10th. JPMorgan Chase & Co. increased their price objective on shares of PAR Technology from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Jefferies Financial Group set a $18.00 price objective on shares of PAR Technology in a research note on Saturday, May 9th. Finally, BTIG Research dropped their target price on shares of PAR Technology from $45.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, August 7th.

PAR Technology Price Performance

Shares of NYSE PAR opened at $19.44 on Monday. The company has a 50 day simple moving average of $17.06 and a two-hundred day simple moving average of $16.31. PAR Technology has a fifty-two week low of $11.59 and a fifty-two week high of $54.62. The company has a market capitalization of $804.04 million, a price-to-earnings ratio of -11.05 and a beta of 1.33. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.89 and a current ratio of 2.21.

PAR Technology (NYSE:PAR) last posted its quarterly earnings results on Thursday, August 6th. The software maker reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.06. PAR Technology had a negative return on equity of 1.62% and a negative net margin of 14.52%.The company had revenue of $133.41 million for the quarter, compared to the consensus estimate of $124.66 million. During the same quarter in the prior year, the business posted $0.03 EPS. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. Analysts expect that PAR Technology will post -0.13 EPS for the current fiscal year.

Insider Activity at PAR Technology

In other news, insider Cathy A. King sold 20,000 shares of the business’s 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 in the company, valued at $1,890,494.22. The trade was a 13.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Voss Capital, Lp purchased 193,751 shares of the stock in a transaction dated Thursday, June 11th. The shares were acquired at an average cost of $14.15 per share, for a total transaction of $2,741,576.65. Following the completion of the acquisition, the insider owned 4,968,751 shares of the company’s stock, valued at approximately $70,307,826.65. This represents a 4.06% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have acquired 361,518 shares of company stock valued at $5,261,827. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PAR Technology

Several hedge funds and other institutional investors have recently bought and sold shares of PAR. BlackRock Inc. purchased a new position in shares of PAR Technology during the second quarter valued at approximately $70,563,000. Greenstone Partners & Co. LLC purchased a new stake in PAR Technology in the fourth quarter worth approximately $36,981,000. Bandera Partners LLC purchased a new stake in PAR Technology in the first quarter worth approximately $9,331,000. Renaissance Technologies LLC bought a new stake in PAR Technology in the 1st quarter worth approximately $5,508,000. Finally, Reinhart Partners LLC. grew its position 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 worth $47,522,000 after purchasing an additional 410,183 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.