PAR Technology (NYSE:PAR) Upgraded to Buy at BTIG Research

Key Points

• PAR Technology was upgraded from a "neutral" rating to a "buy" rating by BTIG Research, with a price target of $65.00, indicating a potential upside of 25.23% from its previous close.
• The company reported a 43.8% year-over-year revenue increase, with quarterly revenues of $112.40 million, although it missed EPS estimates by $0.01.
• Currently, the stock has a consensus rating of "Moderate Buy" among analysts, with a consensus price target of $80.57.

BTIG Research upgraded shares of PAR Technology (NYSE:PAR - Free Report) from a neutral rating to a buy rating in a report released on Friday morning, Marketbeat.com reports. The firm currently has $65.00 price objective on the software maker's stock.

Several other analysts also recently issued reports on PAR. The Goldman Sachs Group increased their price target on PAR Technology from $57.00 to $65.00 and gave the company a "neutral" rating in a report on Monday, May 12th. Needham & Company LLC reiterated a "buy" rating and issued a $90.00 price target on shares of PAR Technology in a report on Friday, July 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $80.57.

PAR Technology Trading Up 1.3%

Shares of PAR stock traded up $0.68 on Friday, reaching $52.49. 1,872,078 shares of the stock were exchanged, compared to its average volume of 1,035,945. The stock has a market cap of $2.13 billion, a P/E ratio of -23.33 and a beta of 1.70. The company has a quick ratio of 1.49, a current ratio of 1.70 and a debt-to-equity ratio of 0.43. The firm has a 50 day moving average of $64.11 and a two-hundred day moving average of $63.33. PAR Technology has a 1-year low of $46.24 and a 1-year high of $82.24.

PAR Technology (NYSE:PAR - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The software maker reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). The firm had revenue of $112.40 million for the quarter, compared to analyst estimates of $111.02 million. PAR Technology had a negative return on equity of 3.16% and a negative net margin of 20.64%. The company's quarterly revenue was up 43.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.23) earnings per share. On average, research analysts anticipate that PAR Technology will post -1.47 EPS for the current year.

Insider Buying and Selling at PAR Technology

In other news, Director Douglas Gregory Rauch sold 1,000 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $69.98, for a total transaction of $69,980.00. Following the completion of the sale, the director directly owned 11,760 shares in the company, valued at $822,964.80. This trade represents a 7.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PAR Technology

Several large investors have recently modified their holdings of the stock. Huntington National Bank grew its stake in PAR Technology by 66.2% in the second quarter. Huntington National Bank now owns 437 shares of the software maker's stock worth $30,000 after purchasing an additional 174 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in PAR Technology by 8,616.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the software maker's stock worth $32,000 after purchasing an additional 517 shares in the last quarter. Advisors Asset Management Inc. grew its stake in PAR Technology by 68.6% in the second quarter. Advisors Asset Management Inc. now owns 563 shares of the software maker's stock worth $39,000 after purchasing an additional 229 shares in the last quarter. Versant Capital Management Inc grew its stake in PAR Technology by 996.6% in the first quarter. Versant Capital Management Inc now owns 647 shares of the software maker's stock worth $40,000 after purchasing an additional 588 shares in the last quarter. Finally, NBC Securities Inc. acquired a new position in PAR Technology in the first quarter worth about $40,000.

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.