PAR Technology (NYSE:PAR) Given New $17.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan raised its price target on PAR Technology from $16 to $17 while keeping a neutral rating, implying only modest upside from the current share price.
• PAR Technology’s latest quarterly results beat expectations, with EPS of $0.10 versus the $0.07 estimate and revenue up 19.4% year over year to $123.97 million.
• Recent insider activity was mixed: Voss Capital bought 594,900 shares, while insider Cathy A. King sold 20,000 shares; analysts overall still rate the stock a Moderate Buy with a consensus target of $25.89.

PAR Technology (NYSE:PAR - Get Free Report) had its price target hoisted by equities researchers at JPMorgan Chase & Co. from $16.00 to $17.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the software maker's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 2.98% from the company's current price.

Other equities analysts also recently issued research reports about the company. Royal Bank Of Canada set a $16.00 target price on PAR Technology in a report on Tuesday, June 9th. The Goldman Sachs Group decreased their price target on shares of PAR Technology from $40.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday, March 3rd. Needham & Company LLC lowered 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 report on Thursday, April 9th. Stephens dropped their price objective on shares of PAR Technology from $60.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, February 27th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of PAR Technology in a research report on Friday, March 27th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $25.89.

PAR Technology Stock Performance

Shares of NYSE PAR traded up $1.13 during midday trading on Wednesday, reaching $16.51. 298,325 shares of the company traded hands, compared to its average volume of 1,614,008. The company has a market cap of $680.96 million, a price-to-earnings ratio of -8.79 and a beta of 1.35. The stock has a 50-day moving average price of $14.42 and a 200 day moving average price of $21.67. PAR Technology has a 52 week low of $11.59 and a 52 week high of $72.15. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.10 and a quick ratio of 1.83.

PAR Technology (NYSE:PAR - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The software maker reported $0.10 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.03. PAR Technology had a negative return on equity of 2.57% and a negative net margin of 16.04%.The company had revenue of $123.97 million for the quarter, compared to the consensus estimate of $116.88 million. During the same quarter in the previous year, the business earned ($0.01) EPS. The company's quarterly revenue was up 19.4% compared to the same quarter last year. Sell-side analysts anticipate that PAR Technology will post -0.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Voss Capital, Lp purchased 594,900 shares of PAR Technology stock in a transaction on Thursday, May 14th. The shares were purchased at an average cost of $14.59 per share, for a total transaction of $8,679,591.00. Following the completion of the transaction, the insider directly owned 4,675,000 shares in the company, valued at approximately $68,208,250. This represents a 14.58% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cathy A. King sold 20,000 shares of the firm's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $15.38, for a total value of $307,600.00. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders purchased 1,069,900 shares of company stock valued at $15,568,965 over the last 90 days. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of PAR Technology

A number of large investors have recently bought and sold shares of the business. FNY Investment Advisers LLC acquired a new position in shares of PAR Technology during the 3rd quarter worth approximately $26,000. Aster Capital Management DIFC Ltd acquired a new stake in PAR Technology during the third quarter worth approximately $28,000. State of Wyoming acquired a new stake in PAR Technology during the fourth quarter worth approximately $34,000. Kestra Advisory Services LLC bought a new position in PAR Technology during the 4th quarter worth $35,000. Finally, Central Pacific Bank Trust Division increased its stake in PAR Technology by 50.0% during the 4th quarter. Central Pacific Bank Trust Division now owns 3,000 shares of the software maker's stock worth $109,000 after acquiring an additional 1,000 shares during the period.

About PAR Technology

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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