Stock Traders Purchase Large Volume of PAR Technology Call Options (NYSE:PAR)

Key Points

• Traders purchased 2,157 PAR call options, about 172% above the typical daily volume of 794.
• PAR reported quarterly EPS of $0.24, beating the $0.22 consensus, while revenue of $137.11 million exceeded estimates and rose 15% year over year.
• Analysts hold a “Moderate Buy” consensus rating with an average price target of $25.28; shares traded at $20.78 on Monday.

PAR Technology Corporation (NYSE:PAR - Get Free Report) was the recipient of unusually large options trading on Monday. Traders bought 2,157 call options on the stock. This is an increase of approximately 172% compared to the typical daily volume of 794 call options.

PAR Technology Price Performance

NYSE PAR traded up $0.23 during trading hours on Monday, reaching $20.78. The company's stock had a trading volume of 117,927 shares, compared to its average volume of 1,324,825. The firm's 50-day moving average price is $16.75 and its 200-day moving average price is $17.07. The company has a quick ratio of 1.89, a current ratio of 2.21 and a debt-to-equity ratio of 0.52. PAR Technology has a 1 year low of $11.59 and a 1 year high of $40.54. The company has a market capitalization of $859.52 million, a price-to-earnings ratio of -13.58 and a beta of 1.32.

PAR Technology (NYSE:PAR - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. The business had revenue of $137.11 million during the quarter, compared to analyst estimates of $129.79 million. PAR Technology had a negative net margin of 12.24% and a negative return on equity of 0.69%. The company's revenue was up 15.0% on a year-over-year basis. During the same period last year, the firm posted $0.06 EPS. On average, equities research analysts predict that PAR Technology will post -0.13 EPS for the current fiscal year.

Insider Activity at PAR Technology

In related news, Director Narinder Singh acquired 11,518 shares of the stock in a transaction dated 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 in the company, valued at approximately $668,828.72. This represents a 42.65% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.30% of the stock is owned by company insiders.

Institutional Trading of PAR Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in PAR Technology during the second quarter valued at $70,563,000. Bandera Partners LLC purchased a new position in shares of PAR Technology in the 1st quarter worth $9,331,000. Renaissance Technologies LLC bought a new stake in shares of PAR Technology in the 1st quarter worth about $5,508,000. Visionary Wealth Advisors bought a new stake in shares of PAR Technology in the 2nd quarter worth about $6,844,000. Finally, Rice Hall James & Associates LLC bought a new stake in shares of PAR Technology in the 2nd quarter worth about $6,601,000.

Analyst Ratings Changes

A number of equities analysts have weighed in on PAR shares. Needham & Company LLC increased their price objective on shares of PAR Technology from $25.00 to $30.00 and gave the stock a "buy" rating in a research note on Friday. BTIG Research lowered their target price on shares of PAR Technology from $45.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, August 7th. Weiss Ratings raised shares of PAR Technology from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, August 27th. Finally, JPMorgan Chase & Co. upped their target price on shares of PAR Technology from $18.00 to $19.00 and gave the stock a "neutral" rating in a report on Friday. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $25.28.

PAR Technology Company Profile

PAR Technology Corporation NYSE: PAR provides technology solutions for the restaurant and hospitality industries. Its offerings include point-of-sale systems, restaurant management software, digital ordering, loyalty and customer-engagement tools, payment solutions, workforce management, and related hardware and support services.

The company's portfolio includes Brink POS, a cloud-based restaurant point-of-sale platform, and Punchh, a customer loyalty and engagement platform. PAR also provides tools designed to help restaurant operators manage digital channels, payments, data, and guest relationships through integrated technology solutions.

Founded in 1968, PAR Technology has expanded from its origins in restaurant and hospitality technology through organic development and acquisitions, including Punchh and Stuzo.

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