PAR Technology Corporation (NYSE:PAR) Receives Average Recommendation of “Moderate Buy” from Analysts

PAR Technology Corporation (NYSE:PAR) has been given an average recommendation of “Moderate Buy” by the seven ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $34.20.

PAR has been the topic of a number of analyst reports. Benchmark cut 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. The Goldman Sachs Group lowered their target price on shares of PAR Technology from $40.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. William Blair reiterated an “outperform” rating on shares of PAR Technology in a report on Friday, March 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of PAR Technology in a report on Friday, March 27th. Finally, Needham & Company LLC lowered their price objective on shares of PAR Technology from $55.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, February 27th.

Insiders Place Their Bets

In related news, major shareholder Voss Capital, Lp bought 65,100 shares of PAR Technology stock in a transaction that occurred on Wednesday, February 4th. The stock was purchased at an average cost of $22.44 per share, with a total value of $1,460,844.00. Following the purchase, the insider owned 4,140,100 shares in the company, valued at approximately $92,903,844. This trade represents a 1.60% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Savneet Singh sold 14,310 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $18.27, for a total value of $261,443.70. Following the transaction, the chief executive officer owned 238,227 shares of the company’s stock, valued at approximately $4,352,407.29. This trade represents a 5.67% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders purchased 560,100 shares of company stock worth $15,851,995 and sold 90,689 shares worth $1,600,226. 3.70% of the stock is owned by insiders.

Hedge Funds Weigh In On PAR Technology

Large investors have recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its stake in shares of PAR Technology by 68.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 563 shares of the software maker’s stock worth $39,000 after buying an additional 229 shares during the last quarter. ProShare Advisors LLC raised its holdings in PAR Technology by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 7,330 shares of the software maker’s stock worth $266,000 after acquiring an additional 471 shares in the last quarter. SkyView Investment Advisors LLC boosted its position in PAR Technology by 3.3% during the second quarter. SkyView Investment Advisors LLC now owns 16,915 shares of the software maker’s stock valued at $1,153,000 after purchasing an additional 548 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in PAR Technology by 16.4% during the second quarter. Ameritas Investment Partners Inc. now owns 4,095 shares of the software maker’s stock valued at $284,000 after purchasing an additional 577 shares during the last quarter. Finally, &PARTNERS increased its position in shares of PAR Technology by 10.6% during the 4th quarter. &PARTNERS now owns 6,444 shares of the software maker’s stock worth $234,000 after purchasing an additional 620 shares during the last quarter.

PAR Technology Stock Up 6.5%

NYSE:PAR opened at $13.67 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.66 and a debt-to-equity ratio of 0.45. PAR Technology has a 12-month low of $12.42 and a 12-month high of $72.15. The stock’s fifty day simple moving average is $19.37 and its 200-day simple moving average is $30.77. The firm has a market capitalization of $563.87 million, a P/E ratio of -6.57 and a beta of 1.48.

PAR Technology (NYSE:PAR) last released its quarterly earnings data on Thursday, February 26th. The software maker reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.16. PAR Technology had a negative return on equity of 2.32% and a negative net margin of 18.54%.The business had revenue of $120.10 million during the quarter, compared to the consensus estimate of $116.39 million. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. Equities research analysts expect that PAR Technology will post -1.47 earnings per share for the current year.

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.