PAR Technology (NYSE:PAR) Trading 5.7% Higher – Here’s Why

PAR Technology Corporation (NYSE:PAR)’s share price shot up 5.7% during trading on Tuesday . The stock traded as high as $19.63 and last traded at $19.60. 333,653 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 1,474,988 shares. The stock had previously closed at $18.55.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Royal Bank Of Canada set a $16.00 price objective on shares of PAR Technology in a research note on Tuesday, June 9th. BTIG Research decreased their target price on PAR Technology from $45.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, August 7th. UBS Group set a $16.00 target price on PAR Technology in a research report on Tuesday, June 9th. The Goldman Sachs Group increased 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. Finally, Jefferies Financial Group set a $18.00 price objective on PAR Technology in a report on Saturday, May 9th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $24.61.

PAR Technology Stock Up 5.7%

The firm has a market cap of $810.66 million, a PE ratio of -11.15 and a beta of 1.33. 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 has a fifty day moving average price of $16.65 and a two-hundred day moving average price of $16.52.

PAR Technology (NYSE:PAR) last released its earnings results on Thursday, August 6th. The software maker reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.06. The company had revenue of $133.41 million for the quarter, compared to analysts’ expectations of $124.66 million. PAR Technology had a negative return on equity of 1.62% and a negative net margin of 14.52%.The business’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.03 EPS. On average, analysts anticipate that PAR Technology Corporation will post -0.16 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Narinder Singh bought 11,518 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was bought at an average price of $17.36 per share, for a total transaction of $199,952.48. Following the transaction, the director directly owned 38,527 shares in the company, valued at $668,828.72. This represents a 42.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Voss Capital, Lp bought 156,249 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were bought at an average cost of $14.85 per share, with a total value of $2,320,297.65. Following the purchase, the insider directly owned 5,125,000 shares in the company, valued at approximately $76,106,250. This trade represents a 3.14% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 361,518 shares of company stock worth $5,261,827 in the last quarter. 2.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. State of Wyoming purchased a new stake in shares of PAR Technology during the 4th quarter worth about $34,000. Kestra Advisory Services LLC acquired a new stake in PAR Technology in the fourth quarter valued at approximately $35,000. Bamco Inc. NY bought a new stake in PAR Technology in the second quarter worth approximately $38,000. Versant Capital Management Inc increased its stake in shares of PAR Technology by 325.5% during the 2nd quarter. Versant Capital Management Inc now owns 5,110 shares of the software maker’s stock worth $89,000 after purchasing an additional 3,909 shares during the last quarter. Finally, MidFirst Bank bought a new position in shares of PAR Technology during the 4th quarter valued at $113,000.

PAR Technology Company Profile

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.