PAR Technology (NYSE:PAR) Now Covered by Analysts at JPMorgan Chase & Co.

Equities researchers at JPMorgan Chase & Co. assumed coverage on shares of PAR Technology (NYSE:PAR) in a report released on Friday. The brokerage set an “underweight” rating and a $12.00 price target on the software maker’s stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 21.69% from the company’s current price.

A number of other research analysts also recently commented on PAR. Needham & Company LLC lowered their target price on PAR Technology from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of PAR Technology in a report on Friday, March 27th. BTIG Research decreased their price objective on shares of PAR Technology from $60.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, February 27th. William Blair restated an “outperform” rating on shares of PAR Technology in a research report on Friday, March 13th. Finally, Benchmark cut their target price on PAR Technology from $42.00 to $33.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $28.00.

PAR Technology Stock Up 3.1%

PAR opened at $15.32 on Friday. PAR Technology has a 52 week low of $11.59 and a 52 week high of $72.15. 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 firm has a 50-day simple moving average of $13.93 and a two-hundred day simple moving average of $24.32. The company has a market capitalization of $632.07 million, a PE ratio of -8.19 and a beta of 1.32.

PAR Technology (NYSE:PAR) last posted its earnings results on Thursday, May 7th. The software maker reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The company had revenue of $123.97 million for the quarter, compared to the consensus estimate of $116.88 million. PAR Technology had a negative return on equity of 2.57% and a negative net margin of 16.04%.The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.01) earnings per share. Analysts forecast that PAR Technology will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other PAR Technology news, CFO Bryan A. Menar sold 6,588 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $17.49, for a total value of $115,224.12. Following the transaction, the chief financial officer directly owned 64,893 shares in the company, valued at $1,134,978.57. This represents a 9.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Voss Capital, Lp bought 594,900 shares of PAR Technology stock in a transaction dated Thursday, May 14th. The shares were bought at an average cost of $14.59 per share, for a total transaction of $8,679,591.00. Following the completion of the transaction, the insider owned 4,675,000 shares of the company’s stock, valued at approximately $68,208,250. This trade represents a 14.58% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 90,689 shares of company stock worth $1,600,226 over the last ninety days. 2.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PAR. FNY Investment Advisers LLC purchased a new stake in shares of PAR Technology in the 3rd quarter worth $26,000. Aster Capital Management DIFC Ltd purchased a new position in shares of PAR Technology during the third quarter valued at $28,000. State of Wyoming bought a new stake in shares of PAR Technology in the fourth quarter valued at about $34,000. Kestra Advisory Services LLC purchased a new stake in PAR Technology in the fourth quarter worth about $35,000. Finally, Central Pacific Bank Trust Division grew its holdings in PAR Technology by 50.0% during the 4th quarter. Central Pacific Bank Trust Division now owns 3,000 shares of the software maker’s stock worth $109,000 after acquiring an additional 1,000 shares in the last quarter.

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.