Brokerages Set PAR Technology Corporation (NYSE:PAR) PT at $24.61

Shares of PAR Technology Corporation (NYSE:PAR) have been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $24.6111.

A number of research firms have issued reports on PAR. UBS Group set a $16.00 target price on PAR Technology in a research report on Tuesday, June 9th. The Goldman Sachs Group upped their price target on PAR Technology from $18.00 to $20.50 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Weiss Ratings upgraded PAR Technology from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on PAR Technology from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Finally, Jefferies Financial Group set a $18.00 price objective on shares of PAR Technology in a report on Saturday, May 9th.

Insider Buying and Selling

In other PAR Technology news, Director Narinder Singh acquired 11,518 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was bought at an average cost of $17.36 per share, with a total value of $199,952.48. Following the acquisition, the director owned 38,527 shares in the company, valued at approximately $668,828.72. This represents a 42.65% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Voss Capital, Lp acquired 193,751 shares of PAR Technology stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average price of $14.15 per share, with a total value of $2,741,576.65. Following the completion of the purchase, the insider directly owned 4,968,751 shares in the company, valued at $70,307,826.65. This represents a 4.06% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 361,518 shares of company stock valued at $5,261,827. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PAR. BlackRock Inc. purchased a new position in PAR Technology during the second quarter valued at approximately $70,563,000. Greenstone Partners & Co. LLC bought a new position in PAR Technology in the 4th quarter valued at $36,981,000. California State Teachers Retirement System boosted its holdings in PAR Technology by 2,290.0% in the 2nd quarter. California State Teachers Retirement System now owns 893,472 shares of the software maker’s stock valued at $15,564,000 after purchasing an additional 856,089 shares during the period. Bandera Partners LLC purchased a new position in shares of PAR Technology during the 1st quarter valued at $9,331,000. Finally, Renaissance Technologies LLC purchased a new position in shares of PAR Technology during the 1st quarter valued at $5,508,000.

PAR Technology Stock Up 0.9%

PAR opened at $19.32 on Monday. 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 stock has a market cap of $799.13 million, a price-to-earnings ratio of -10.98 and a beta of 1.33. PAR Technology has a twelve month low of $11.59 and a twelve month high of $52.98. The company’s 50-day moving average price is $17.50 and its two-hundred day moving average price is $16.20.

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