PAR Technology Sees Unusually Large Options Volume (NYSE:PAR)

PAR Technology Corporation (NYSE:PAR) was the target of some unusual options trading on Monday. Stock investors purchased 2,157 call options on the company. This represents an increase of 172% compared to the average volume of 794 call options.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PAR shares. BTIG Research cut their target price on PAR Technology from $45.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Needham & Company LLC raised their price target on PAR Technology from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday. Weiss Ratings raised shares of PAR Technology from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 27th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of PAR Technology from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.28.

Insider Transactions at PAR Technology

In related news, Director Narinder Singh acquired 11,518 shares of the stock in a transaction dated Wednesday, August 12th. The stock was acquired at an average cost of $17.36 per share, with a total value of $199,952.48. Following the purchase, the director directly owned 38,527 shares of the company’s stock, valued at approximately $668,828.72. This trade represents a 42.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PAR Technology

A number of institutional investors and hedge funds have recently modified their holdings of PAR. BlackRock Inc. purchased a new position in PAR Technology during the 2nd quarter valued at $70,563,000. Progeny 3 Inc. increased its stake 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 purchasing an additional 114,500 shares during the period. Bandera Partners LLC purchased a new stake in PAR Technology in the first quarter worth $9,331,000. Renaissance Technologies LLC bought a new stake in shares of PAR Technology during the first quarter worth $5,508,000. Finally, Visionary Wealth Advisors bought a new stake in shares of PAR Technology during the second quarter worth $6,844,000.

PAR Technology Trading Up 1.1%

PAR Technology stock traded up $0.23 during midday trading on Monday, reaching $20.78. The stock had a trading volume of 117,927 shares, compared to its average volume of 1,324,825. The company has a quick ratio of 1.89, a current ratio of 2.21 and a debt-to-equity ratio of 0.52. The firm has a market cap of $859.52 million, a price-to-earnings ratio of -13.58 and a beta of 1.32. PAR Technology has a 52-week low of $11.59 and a 52-week high of $40.54. The company has a fifty day moving average of $16.75 and a 200 day moving average of $17.07.

PAR Technology (NYSE:PAR) last announced its earnings results on Thursday, November 5th. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. The business had revenue of $137.11 million during the quarter, compared to analyst estimates of $129.79 million. PAR Technology had a negative return on equity of 0.69% and a negative net margin of 12.24%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.06 earnings per share. On average, analysts anticipate that PAR Technology will post -0.13 earnings per share for the current fiscal year.

PAR Technology Company Profile

PAR Technology Corporation (NYSE:PAR) provides technology solutions for the restaurant and hospitality industries. Its offerings include point-of-sale systems, restaurant management software, digital ordering, loyalty and customer-engagement tools, payment solutions, workforce management, and related hardware and support services.

The company’s portfolio includes Brink POS, a cloud-based restaurant point-of-sale platform, and Punchh, a customer loyalty and engagement platform. PAR also provides tools designed to help restaurant operators manage digital channels, payments, data, and guest relationships through integrated technology solutions.

Founded in 1968, PAR Technology has expanded from its origins in restaurant and hospitality technology through organic development and acquisitions, including Punchh and Stuzo.