PAR Technology Corporation (NYSE:PAR) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• PAR Technology has a consensus “Moderate Buy” rating from eight brokerages, with five buys, two holds and one sell. The average 12-month price target is $26.17, above the reported opening price of $17.38.
• The company beat quarterly expectations, reporting adjusted earnings of $0.10 per share versus a $0.07 estimate and revenue of $123.97 million versus $116.88 million expected. Revenue increased 19.4% year over year, although PAR remained unprofitable with a negative net margin.
• Insider activity was mixed but net buying was significant: insiders acquired 1.07 million shares worth approximately $15.6 million over the past 90 days, including a large purchase by Voss Capital, while an insider sold 20,000 shares under a pre-arranged trading plan.

PAR Technology Corporation (NYSE:PAR - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eight brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $26.1667.

Several research firms recently weighed in on PAR. JPMorgan Chase & Co. lifted their target price on shares of PAR Technology from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Wednesday, June 24th. Needham & Company LLC lowered their price target on PAR Technology from $30.00 to $25.00 and set a "buy" rating for the company in a research report on Thursday, April 9th. Royal Bank Of Canada set a $16.00 price objective on PAR Technology in a research note on Tuesday, June 9th. Weiss Ratings reiterated a "sell (e+)" rating on shares of PAR Technology in a report on Friday, July 10th. Finally, Jefferies Financial Group set a $18.00 price objective on PAR Technology in a report on Saturday, May 9th.

PAR Technology Trading Up 1.4%

NYSE PAR opened at $17.38 on Thursday. The firm's 50-day moving average is $15.86 and its two-hundred day moving average is $18.13. PAR Technology has a 12 month low of $11.59 and a 12 month high of $64.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.10 and a quick ratio of 1.83. The stock has a market capitalization of $717.09 million, a P/E ratio of -9.30 and a beta of 1.32.

PAR Technology (NYSE:PAR - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The software maker reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.03. The business had revenue of $123.97 million during the quarter, compared to analysts' expectations 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 period last year, the business earned ($0.01) earnings per share. On average, sell-side analysts anticipate that PAR Technology will post -0.16 earnings per share for the current year.

Insider Activity

In other PAR Technology news, major shareholder Voss Capital, Lp purchased 594,900 shares of PAR Technology stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of $14.59 per share, with a total value of $8,679,591.00. Following the completion of the transaction, the insider owned 4,675,000 shares of the company's stock, valued at $68,208,250. This trade represents a 14.58% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Cathy A. King sold 20,000 shares of the firm's 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 transaction, the insider directly owned 122,919 shares of the company's stock, valued at $1,890,494.22. This represents a 13.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders acquired 1,069,900 shares of company stock valued at $15,568,965. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of PAR Technology

A number of large investors have recently modified their holdings of PAR. State of Wyoming acquired a new stake in shares of PAR Technology in the fourth quarter valued at $34,000. Kestra Advisory Services LLC acquired a new position in PAR Technology during the 4th quarter worth $35,000. Versant Capital Management Inc increased its holdings in PAR Technology by 325.5% during the 2nd quarter. Versant Capital Management Inc now owns 5,110 shares of the software maker's stock worth $89,000 after purchasing an additional 3,909 shares during the period. MidFirst Bank purchased a new stake in PAR Technology during the 4th quarter worth about $113,000. Finally, Corsair Capital Management L.P. purchased a new stake in PAR Technology during the 1st quarter worth about $133,000.

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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