Brokerages Set PAR Technology Corporation (NYSE:PAR) Price Target at $25.89

Shares of PAR Technology Corporation (NYSE:PAR) have earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $25.8889.

PAR has been the subject of several analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of PAR Technology in a research note on Friday, March 27th. Jefferies Financial Group set a $18.00 price target on PAR Technology in a report on Saturday, May 9th. Benchmark decreased their price target on PAR Technology from $42.00 to $33.00 and set a “buy” rating for the company in a research note on Monday, March 16th. JPMorgan Chase & Co. boosted their price objective on PAR Technology from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, June 24th. Finally, Needham & Company LLC cut their price objective on PAR Technology from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th.

Insider Activity

In other news, insider Cathy A. King sold 20,000 shares of PAR Technology stock in a transaction that occurred 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 sale, the insider owned 122,919 shares of the company’s stock, valued at approximately $1,890,494.22. The trade was a 13.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Voss Capital, Lp purchased 594,900 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average price of $14.59 per share, with a total value of $8,679,591.00. Following the acquisition, the insider directly owned 4,675,000 shares of the company’s stock, valued at $68,208,250. This trade represents a 14.58% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 1,069,900 shares of company stock worth $15,568,965 in the last ninety days. 2.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PAR Technology

Several hedge funds have recently made changes to their positions in the company. Capital Research Global Investors increased its position in PAR Technology by 17.3% during the 3rd quarter. Capital Research Global Investors now owns 3,237,004 shares of the software maker’s stock valued at $128,121,000 after buying an additional 476,839 shares in the last quarter. Long Focus Capital Management LLC grew its stake in shares of PAR Technology by 4,210.9% during the third quarter. Long Focus Capital Management LLC now owns 877,575 shares of the software maker’s stock worth $34,734,000 after acquiring an additional 857,218 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of PAR Technology during the fourth quarter valued at about $27,274,000. Reinhart Partners LLC. raised its position in shares of PAR Technology by 45.6% in the 4th quarter. Reinhart Partners LLC. now owns 1,309,860 shares of the software maker’s stock valued at $47,522,000 after purchasing an additional 410,183 shares during the last quarter. Finally, Stephens Investment Management Group LLC boosted its stake in PAR Technology by 77.9% in the 4th quarter. Stephens Investment Management Group LLC now owns 282,790 shares of the software maker’s stock worth $10,260,000 after purchasing an additional 123,831 shares in the last quarter.

PAR Technology Stock Down 1.4%

Shares of PAR opened at $18.28 on Friday. 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 business has a fifty day moving average of $15.19 and a 200 day moving average of $20.41. The company has a market cap of $753.88 million, a PE ratio of -9.77 and a beta of 1.32. PAR Technology has a 52-week low of $11.59 and a 52-week high of $72.15.

PAR Technology (NYSE:PAR) last announced its earnings results on Thursday, May 7th. The software maker reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.03. The business had revenue of $123.97 million for the quarter, compared to the consensus estimate of $116.88 million. PAR Technology had a negative net margin of 16.04% and a negative return on equity of 2.57%. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. On average, sell-side analysts expect that PAR Technology will post -0.16 EPS 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.