PAR Technology Corporation (NYSE:PAR) Given Average Rating of “Moderate Buy” by Brokerages

Shares of PAR Technology Corporation (NYSE:PAR) have been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $26.1667.

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of PAR Technology from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. Weiss Ratings restated a “sell (e+)” rating on shares of PAR Technology in a research note on Friday, July 10th. UBS Group set a $16.00 price target on PAR Technology in a research note on Tuesday, June 9th. Needham & Company LLC decreased their price target on PAR Technology from $30.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, April 9th. Finally, Jefferies Financial Group set a $18.00 price objective on PAR Technology in a report on Saturday, May 9th.

PAR Technology Stock Up 1.4%

Shares of NYSE:PAR opened at $17.38 on Thursday. PAR Technology has a fifty-two week low of $11.59 and a fifty-two week high of $64.63. The firm’s 50 day moving average price is $15.86 and its 200 day moving average price is $18.13. The company has a quick ratio of 1.83, a current ratio of 2.10 and a debt-to-equity ratio of 0.51. The stock has a market cap of $717.09 million, a price-to-earnings ratio of -9.30 and a beta of 1.32.

PAR Technology (NYSE:PAR) last posted its quarterly earnings results on Thursday, May 7th. The software maker reported $0.10 EPS for the quarter, topping the consensus estimate of $0.07 by $0.03. PAR Technology had a negative net margin of 16.04% and a negative return on equity of 2.57%. The company had revenue of $123.97 million during the quarter, compared to analysts’ expectations of $116.88 million. During the same quarter in the previous year, the business posted ($0.01) EPS. The firm’s revenue was up 19.4% on a year-over-year basis. As a group, equities research analysts predict that PAR Technology will post -0.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Voss Capital, Lp bought 156,249 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were purchased at an average cost of $14.85 per share, with a total value of $2,320,297.65. Following the transaction, the insider directly owned 5,125,000 shares of the company’s stock, valued at approximately $76,106,250. This represents a 3.14% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Cathy A. King sold 20,000 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $15.38, for a total transaction of $307,600.00. Following the completion of the transaction, the insider directly owned 122,919 shares in the company, valued at $1,890,494.22. This trade represents a 13.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have acquired 1,069,900 shares of company stock worth $15,568,965. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PAR Technology

Several hedge funds have recently made changes to their positions in the company. ProShare Advisors LLC increased its position in shares of 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 purchasing an additional 471 shares in the last quarter. SkyView Investment Advisors LLC boosted its position in shares of PAR Technology by 3.3% in the 2nd 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 period. &PARTNERS boosted its position in shares of PAR Technology by 10.6% in the 4th quarter. &PARTNERS now owns 6,444 shares of the software maker’s stock valued at $234,000 after purchasing an additional 620 shares during the period. Oppenheimer Asset Management Inc. grew its stake in PAR Technology by 6.8% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 9,835 shares of the software maker’s stock worth $357,000 after buying an additional 622 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in PAR Technology by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,012 shares of the software maker’s stock worth $1,228,000 after buying an additional 874 shares during 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.