Benchmark Cuts PAR Technology (NYSE:PAR) Price Target to $33.00

PAR Technology (NYSE:PAR) had its price objective trimmed by Benchmark from $42.00 to $33.00 in a report published on Monday morning,Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

A number of other analysts have also weighed in on PAR. Stephens reduced their price target on shares of PAR Technology from $60.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. BTIG Research lowered 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 note on Friday, February 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of PAR Technology in a report on Monday, December 29th. William Blair restated an “outperform” rating on shares of PAR Technology in a research report on Friday, March 13th. Finally, The Goldman Sachs Group decreased their price target on PAR Technology from $40.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.20.

PAR Technology Trading Down 0.8%

Shares of NYSE:PAR opened at $14.42 on Monday. The company has a quick ratio of 1.46, a current ratio of 1.66 and a debt-to-equity ratio of 0.45. The company’s 50-day moving average price is $24.51 and its 200 day moving average price is $33.28. The company has a market cap of $593.30 million, a PE ratio of -6.93 and a beta of 1.36. PAR Technology has a fifty-two week low of $12.48 and a fifty-two week high of $72.15.

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

Insider Buying and Selling at PAR Technology

In other news, major shareholder Voss Capital, Lp purchased 65,100 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were acquired at an average price of $22.44 per share, for a total transaction of $1,460,844.00. Following the completion of the acquisition, the insider directly owned 4,140,100 shares of the company’s stock, valued at $92,903,844. The trade was a 1.60% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Savneet Singh sold 14,310 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $18.27, for a total transaction of $261,443.70. Following the completion of the sale, 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 SEC filing for this sale provides additional information. Over the last 90 days, insiders bought 722,237 shares of company stock valued at $21,772,998 and sold 90,689 shares valued at $1,600,226. 3.70% of the stock is currently owned by company insiders.

Institutional Trading of PAR Technology

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in shares of PAR Technology by 8.0% in the first quarter. Royal Bank of Canada now owns 20,446 shares of the software maker’s stock valued at $1,255,000 after purchasing an additional 1,515 shares in the last quarter. AQR Capital Management LLC purchased a new position in shares of PAR Technology during the first quarter valued at $309,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in PAR Technology by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,012 shares of the software maker’s stock valued at $1,228,000 after buying an additional 874 shares during the period. Jones Financial Companies Lllp raised its position in PAR Technology by 186,466.7% during the first quarter. Jones Financial Companies Lllp now owns 5,597 shares of the software maker’s stock valued at $343,000 after buying an additional 5,594 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in PAR Technology by 28.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 231,494 shares of the software maker’s stock worth $14,200,000 after acquiring an additional 51,316 shares in 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.