Narinder Singh Acquires 11,518 Shares of PAR Technology (NYSE:PAR) Stock

Key Points

• Director Narinder Singh purchased 11,518 PAR Technology shares at an average price of $17.36, investing nearly $200,000 and increasing his position by 42.65% to 38,527 shares.
• PAR Technology shares rose 4.0% to $18.63, while the stock remains well below its 12-month high of $54.62 and above its low of $11.59.
• Analysts assign the stock a “Moderate Buy” consensus rating with an average price target of $24.61; institutional investors have also recently increased their holdings.

PAR Technology Corporation (NYSE:PAR - Get Free Report) Director Narinder Singh acquired 11,518 shares of the stock in a transaction on Wednesday, August 12th. The shares were purchased at an average cost of $17.36 per share, with a total value of $199,952.48. Following the transaction, the director directly owned 38,527 shares of the company's stock, valued at approximately $668,828.72. This trade represents a 42.65% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

PAR Technology Stock Up 4.0%

Shares of NYSE:PAR traded up $0.72 during midday trading on Thursday, reaching $18.63. The company's stock had a trading volume of 1,049,647 shares, compared to its average volume of 1,487,422. 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 moving average of $16.35 and a 200-day moving average of $16.77. The firm has a market capitalization of $770.47 million, a P/E ratio of -10.58 and a beta of 1.33. PAR Technology Corporation has a 12-month low of $11.59 and a 12-month high of $54.62.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group set a $18.00 target price on shares of PAR Technology in a report on Saturday, May 9th. The Goldman Sachs Group boosted their target price on PAR Technology from $18.00 to $20.50 and gave the stock a "neutral" rating in a report on Thursday, July 9th. BTIG Research cut their target price on PAR Technology from $45.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, August 7th. JPMorgan Chase & Co. raised their price target on PAR Technology from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of PAR Technology in a research report on Friday, July 10th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $24.61.

Institutional Investors Weigh In On PAR Technology

Institutional investors and hedge funds have recently made changes to their positions in the company. ProShare Advisors LLC increased its holdings in PAR Technology by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 7,330 shares of the software maker's stock valued at $266,000 after acquiring an additional 471 shares during the last quarter. SkyView Investment Advisors LLC boosted its holdings in shares of PAR Technology by 3.3% during 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 last quarter. &PARTNERS grew its position in shares of PAR Technology by 10.6% during the fourth quarter. &PARTNERS now owns 6,444 shares of the software maker's stock valued at $234,000 after purchasing an additional 620 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of PAR Technology by 6.8% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 9,835 shares of the software maker's stock valued at $357,000 after purchasing an additional 622 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of PAR Technology by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,012 shares of the software maker's stock worth $1,228,000 after purchasing an additional 874 shares during 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.

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