PAR Technology (NYSE:PAR) Stock Breaks Above 200-Day Moving Average – Here’s Why

PAR Technology Corporation (NYSE:PAR) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $15.94 and traded as high as $17.91. PAR Technology shares last traded at $17.4650, with a volume of 462,381 shares.

Analyst Upgrades and Downgrades

PAR has been the subject of several recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price objective on shares of PAR Technology in a research note on Monday, September 28th. JPMorgan Chase & Co. boosted their price objective on PAR Technology from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Weiss Ratings upgraded shares of PAR Technology from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 27th. BTIG Research cut 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. Finally, The Goldman Sachs Group raised their target price on shares of PAR Technology from $18.00 to $20.50 and gave the company a “neutral” rating in a report on Thursday, July 9th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.61.

PAR Technology Trading Down 1.8%

The company has a debt-to-equity ratio of 0.52, a current ratio of 2.21 and a quick ratio of 1.89. The business’s 50 day moving average is $17.00 and its 200 day moving average is $15.97. The stock has a market cap of $738.15 million, a price-to-earnings ratio of -10.14 and a beta of 1.35.

PAR Technology (NYSE:PAR) last posted its earnings results on Thursday, August 6th. The software maker reported $0.18 EPS for the quarter, beating 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 firm had revenue of $133.41 million for the quarter, compared to analyst estimates of $124.66 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. PAR Technology’s revenue for the quarter was up 18.7% compared to the same quarter last year. As a group, equities analysts expect that PAR Technology Corporation will post -0.13 earnings per share for the current fiscal year.

Insider Activity

In other PAR Technology news, Director Narinder Singh acquired 11,518 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average price of $17.36 per share, for a total transaction of $199,952.48. Following the acquisition, the director owned 38,527 shares in the company, valued at $668,828.72. The trade was a 42.65% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On PAR Technology

Institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE purchased a new position in PAR Technology in the second quarter valued at approximately $5,181,000. Progeny 3 Inc. raised its holdings in PAR Technology by 5.6% during 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 in the last quarter. Hsbc Holdings PLC acquired a new stake in PAR Technology during the second quarter worth approximately $1,308,000. Visionary Wealth Advisors purchased a new stake in shares of PAR Technology during the 2nd quarter worth approximately $6,844,000. Finally, Stephens Investment Management Group LLC lifted its position in shares of PAR Technology by 62.2% during the 1st quarter. Stephens Investment Management Group LLC now owns 458,621 shares of the software maker’s stock worth $6,113,000 after buying an additional 175,831 shares during the last quarter.

About PAR Technology

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.