PAR Technology (NYSE:PAR) Shares Gap Up to $46.70

Shares of PAR Technology Co. (NYSE:PAR - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $46.70, but opened at $47.99. PAR Technology shares last traded at $48.35, with a volume of 67,467 shares trading hands.

Analyst Ratings Changes

Several analysts recently commented on PAR shares. Benchmark raised shares of PAR Technology from a "hold" rating to a "buy" rating and set a $59.00 target price for the company in a research note on Wednesday. TheStreet upgraded shares of PAR Technology from a "d+" rating to a "c-" rating in a research report on Thursday, February 15th. StockNews.com upgraded shares of PAR Technology to a "sell" rating in a research report on Thursday, March 7th. William Blair restated an "outperform" rating on shares of PAR Technology in a research report on Tuesday, March 12th. Finally, Sidoti upgraded shares of PAR Technology from a "neutral" rating to a "buy" rating and set a $61.00 price target for the company in a research report on Tuesday, March 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, PAR Technology has a consensus rating of "Moderate Buy" and a consensus target price of $49.88.

PAR Technology Stock Up 6.3 %

The firm has a market cap of $1.69 billion, a P/E ratio of -19.32 and a beta of 2.00. The business's fifty day moving average price is $43.27 and its two-hundred day moving average price is $42.59. The company has a current ratio of 2.07, a quick ratio of 1.81 and a debt-to-equity ratio of 0.72.

PAR Technology (NYSE:PAR - Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The software maker reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.05). The business had revenue of $107.71 million for the quarter, compared to the consensus estimate of $106.12 million. PAR Technology had a negative net margin of 17.14% and a negative return on equity of 14.53%. As a group, equities research analysts anticipate that PAR Technology Co. will post -1.15 EPS for the current year.

Insider Activity

In other news, CFO Bryan A. Menar sold 803 shares of the firm's stock in a transaction on Monday, April 8th. The shares were sold at an average price of $43.79, for a total transaction of $35,163.37. Following the transaction, the chief financial officer now owns 54,601 shares in the company, valued at approximately $2,390,977.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Bryan A. Menar sold 803 shares of the firm's stock in a transaction on Monday, April 8th. The shares were sold at an average price of $43.79, for a total value of $35,163.37. Following the transaction, the chief financial officer now directly owns 54,601 shares in the company, valued at approximately $2,390,977.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Douglas Gregory Rauch sold 4,500 shares of the firm's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $42.04, for a total transaction of $189,180.00. Following the completion of the transaction, the director now owns 14,365 shares in the company, valued at $603,904.60. The disclosure for this sale can be found here. 3.60% of the stock is owned by insiders.

Institutional Trading of PAR Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Research Global Investors grew its position in PAR Technology by 43.4% in the 1st quarter. Capital Research Global Investors now owns 3,530,843 shares of the software maker's stock worth $155,670,000 after purchasing an additional 1,068,641 shares during the last quarter. Vanguard Group Inc. grew its position in PAR Technology by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 2,159,383 shares of the software maker's stock worth $97,950,000 after purchasing an additional 50,793 shares during the last quarter. Progeny 3 Inc. boosted its position in shares of PAR Technology by 47.1% during the 1st quarter. Progeny 3 Inc. now owns 1,191,048 shares of the software maker's stock valued at $54,026,000 after acquiring an additional 381,232 shares in the last quarter. Newtyn Management LLC boosted its position in shares of PAR Technology by 9.2% during the 3rd quarter. Newtyn Management LLC now owns 982,527 shares of the software maker's stock valued at $37,867,000 after acquiring an additional 82,527 shares in the last quarter. Finally, Bamco Inc. NY boosted its position in shares of PAR Technology by 1.0% during the 1st quarter. Bamco Inc. NY now owns 901,872 shares of the software maker's stock valued at $40,909,000 after acquiring an additional 8,789 shares in the last quarter.

About PAR Technology

PAR Technology Corporation, together with its subsidiaries, provides omnichannel cloud-based hardware and software solutions to the restaurant and retail industries worldwide. The Restaurant/Retail segment offers PUNCHH, an enterprise-grade customer loyalty and engagement solution; MENU, an eCommerce platform for restaurant brands; BRINK POS, an open cloud, point-of-sale solution; PAR PAYMENT SERVICES, a merchant services business that enables electronic payment and processing services for businesses; and DATA CENTRAL, a back-office solution that leverages business intelligence and automation technologies.