Brokerages Set PAR Technology Corporation (NYSE:PAR) PT at $24.61

Shares of PAR Technology Corporation (NYSE:PAR) have earned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $24.6111.

A number of research analysts have recently weighed in on the stock. Jefferies Financial Group set a $18.00 price objective on shares of PAR Technology in a research note on Saturday, May 9th. Weiss Ratings restated a “sell (e+)” rating on shares of PAR Technology in a report on Friday, July 10th. The Goldman Sachs Group boosted 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. JPMorgan Chase & Co. raised their price objective on PAR Technology from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Finally, BTIG Research reduced their target price on shares of PAR Technology from $45.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, August 7th.

Insiders Place Their Bets

In other PAR Technology news, major shareholder Voss Capital, Lp bought 156,249 shares of the business’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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Narinder Singh bought 11,518 shares of the business’s stock in a transaction dated 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 purchase, the director owned 38,527 shares in the company, valued at approximately $668,828.72. This represents a 42.65% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 361,518 shares of company stock worth $5,261,827 in the last three months. 2.30% of the stock is owned by insiders.

Institutional Investors Weigh In On PAR Technology

Hedge funds have recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. boosted its position in PAR Technology by 3.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,916,459 shares of the software maker’s stock worth $214,650,000 after acquiring an additional 201,782 shares during the period. BlackRock Inc. bought a new position in shares of PAR Technology during the 2nd quarter valued at about $70,563,000. Vanguard Group Inc. grew its position in PAR Technology by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 3,304,052 shares of the software maker’s stock worth $119,871,000 after buying an additional 12,250 shares during the last quarter. Progeny 3 Inc. grew its holdings in shares of PAR Technology by 5.6% in the 1st quarter. Progeny 3 Inc. now owns 2,170,808 shares of the software maker’s stock worth $28,937,000 after acquiring an additional 114,500 shares during the last quarter. Finally, Reinhart Partners LLC. increased its stake in PAR Technology by 45.6% in the 4th quarter. Reinhart Partners LLC. now owns 1,309,860 shares of the software maker’s stock worth $47,522,000 after purchasing an additional 410,183 shares in the last quarter.

PAR Technology Stock Performance

NYSE:PAR opened at $19.63 on Monday. The firm’s fifty day moving average price is $17.33 and its 200 day moving average price is $16.25. PAR Technology has a 1-year low of $11.59 and a 1-year high of $53.24. 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 firm has a market cap of $811.90 million, a price-to-earnings ratio of -11.15 and a beta of 1.33.

PAR Technology (NYSE:PAR) last issued its earnings results on Thursday, August 6th. The software maker reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $133.41 million during the quarter, compared to the consensus estimate of $124.66 million. During the same period in the prior year, the business posted $0.03 EPS. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, sell-side analysts expect that PAR Technology will post -0.13 EPS for the current year.

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.