PAR Technology (NYSE:PAR) Sees Strong Trading Volume - Still a Buy?

Key Points

• PAT Technology's trading volume surged to 937,394 shares, marking a 100% increase from the previous session's volume.
• Goldman Sachs has upgraded its target price for PAR Technology to $65.00, while Needham & Company maintains a "buy" rating with a target of $90.00.
• The company's recent earnings report showed a 43.8% year-over-year revenue increase, despite a slight miss on earnings per share estimates.

PAR Technology Corporation (NYSE:PAR - Get Free Report) shares saw an uptick in trading volume on Monday . 937,394 shares were traded during trading, an increase of 100% from the previous session's volume of 468,168 shares.The stock last traded at $47.53 and had previously closed at $46.73.

Analyst Upgrades and Downgrades

PAR has been the topic of several recent research reports. The Goldman Sachs Group lifted their target price on PAR Technology from $57.00 to $65.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. Needham & Company LLC reissued a "buy" rating and issued a $90.00 price objective on shares of PAR Technology in a research report on Friday, July 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $79.86.

PAR Technology Trading Up 0.0%

The company has a market capitalization of $1.89 billion, a P/E ratio of -20.78 and a beta of 1.70. The stock's 50 day moving average is $65.62 and its 200-day moving average is $64.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.05 and a quick ratio of 1.83.

PAR Technology (NYSE:PAR - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The software maker reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). PAR Technology had a negative net margin of 20.64% and a negative return on equity of 3.22%. The firm had revenue of $112.40 million for the quarter, compared to the consensus estimate of $111.02 million. During the same period last year, the business earned ($0.23) EPS. PAR Technology's revenue was up 43.8% on a year-over-year basis. As a group, equities research analysts anticipate that PAR Technology Corporation will post -1.47 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Douglas Gregory Rauch sold 1,000 shares of PAR Technology stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $69.98, for a total transaction of $69,980.00. Following the transaction, the director owned 11,760 shares in the company, valued at approximately $822,964.80. The trade was a 7.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.70% of the stock is currently owned by insiders.

Institutional Trading of PAR Technology

Several hedge funds have recently bought and sold shares of PAR. Alliancebernstein L.P. lifted its position in shares of PAR Technology by 3.1% in the 4th quarter. Alliancebernstein L.P. now owns 37,090 shares of the software maker's stock worth $2,695,000 after purchasing an additional 1,110 shares during the period. Envestnet Asset Management Inc. grew its position in shares of PAR Technology by 164.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 30,177 shares of the software maker's stock valued at $2,193,000 after purchasing an additional 18,763 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of PAR Technology by 10,370.0% during the fourth quarter. Russell Investments Group Ltd. now owns 8,376 shares of the software maker's stock worth $609,000 after buying an additional 8,296 shares in the last quarter. Invesco Ltd. grew its stake in PAR Technology by 100.9% during the 4th quarter. Invesco Ltd. now owns 1,283,978 shares of the software maker's stock valued at $93,307,000 after acquiring an additional 644,920 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of PAR Technology by 63.2% in the 4th quarter. Renaissance Technologies LLC now owns 180,700 shares of the software maker's stock worth $13,131,000 after acquiring an additional 70,000 shares during 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.

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