PAR Technology Corporation (NYSE:PAR) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• PAR Technology has a consensus analyst rating of “Moderate Buy” from eight firms, with five buy ratings, two holds, and one sell. The average 12-month price target is about $25.89.
• The company reported better-than-expected quarterly results, posting EPS of $0.10 versus $0.07 expected and revenue of $123.97 million versus $116.88 million expected. Revenue also rose 19.4% from a year earlier.
• Insider and institutional activity has been active: insider Cathy A. King sold shares, while major shareholder Voss Capital bought nearly 595,000 shares. Several large investors also increased their stakes in the company.

Shares of PAR Technology Corporation (NYSE:PAR - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. One investment 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 target price among brokers that have covered the stock in the last year is $25.8889.

A number of research analysts have commented on the stock. Needham & Company LLC reduced their price objective on shares of PAR Technology from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Thursday, April 9th. UBS Group set a $16.00 target price on shares of PAR Technology in a research note on Tuesday, June 9th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of PAR Technology in a research report on Friday, March 27th. JPMorgan Chase & Co. lifted their price target on PAR Technology from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 24th. Finally, Jefferies Financial Group set a $18.00 price objective on PAR Technology in a report on Saturday, May 9th.

PAR Technology Stock Performance

PAR Technology stock opened at $19.01 on Friday. The stock has a market cap of $784.20 million, a P/E ratio of -10.17 and a beta of 1.32. The company has a current ratio of 2.10, a quick ratio of 1.83 and a debt-to-equity ratio of 0.51. The stock has a 50 day moving average of $14.99 and a 200-day moving average of $20.76. PAR Technology has a 52 week low of $11.59 and a 52 week high of $72.15.

PAR Technology (NYSE:PAR - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The software maker reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.03. The business had revenue of $123.97 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.01) earnings per share. On average, analysts expect that PAR Technology will post -0.16 EPS for the current fiscal year.

Insider Activity at PAR Technology

In other news, insider Cathy A. King sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $15.38, for a total value of $307,600.00. Following the completion of the sale, the insider directly owned 122,919 shares in the company, valued at approximately $1,890,494.22. The trade was a 13.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Voss Capital, Lp acquired 594,900 shares of PAR Technology stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average price of $14.59 per share, for a total transaction of $8,679,591.00. Following the completion of the purchase, the insider directly owned 4,675,000 shares of the company's stock, valued at $68,208,250. The trade was a 14.58% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 1,069,900 shares of company stock valued at $15,568,965. Insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Versant Capital Management Inc grew its position in shares of PAR Technology by 325.5% during the 2nd quarter. Versant Capital Management Inc now owns 5,110 shares of the software maker's stock valued at $89,000 after buying an additional 3,909 shares during the last quarter. Bank of America Corp DE raised its stake in PAR Technology by 4.7% during the first quarter. Bank of America Corp DE now owns 118,705 shares of the software maker's stock worth $1,582,000 after acquiring an additional 5,374 shares during the period. Quantinno Capital Management LP lifted its holdings in PAR Technology by 199.8% in the first quarter. Quantinno Capital Management LP now owns 73,935 shares of the software maker's stock worth $986,000 after acquiring an additional 49,276 shares during the last quarter. Progeny 3 Inc. lifted its holdings in PAR Technology by 5.6% in the first 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, ABS Direct Equity Fund LLC boosted its stake in PAR Technology by 15.4% in the first quarter. ABS Direct Equity Fund LLC now owns 150,000 shares of the software maker's stock valued at $2,000,000 after acquiring an additional 20,000 shares during the period.

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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