PAR Technology (NYSE:PAR) Upgraded at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. upgraded PAR Technology from “underweight” to “neutral” and kept a $16 price target, implying about 20% upside from the current share price.
• Other analysts remain mixed but generally constructive, with MarketBeat showing a Moderate Buy consensus and an average target price of $25.78.
• PAR Technology recently beat quarterly expectations, reporting EPS of $0.10 versus $0.07 expected and revenue of $123.97 million, up 19.4% year over year.

PAR Technology (NYSE:PAR - Get Free Report) was upgraded by research analysts at JPMorgan Chase & Co. from an "underweight" rating to a "neutral" rating in a report released on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $16.00 price objective on the software maker's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 20.31% from the stock's current price.

Other equities research analysts also recently issued research reports about the company. Benchmark decreased their price target on PAR Technology from $42.00 to $33.00 and set a "buy" rating for the company in a report on Monday, March 16th. Stephens dropped their price objective on PAR Technology from $60.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, February 27th. Royal Bank Of Canada set a $16.00 price objective on shares of PAR Technology in a report on Tuesday. William Blair reiterated an "outperform" rating on shares of PAR Technology in a research note on Friday, March 13th. Finally, The Goldman Sachs Group lowered their target price 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. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $25.78.

PAR Technology Price Performance

PAR stock opened at $13.30 on Tuesday. The company has a market capitalization of $548.58 million, a P/E ratio of -7.11 and a beta of 1.35. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.83 and a current ratio of 2.10. PAR Technology has a 52-week low of $11.59 and a 52-week high of $72.15. The business has a 50-day simple moving average of $14.04 and a two-hundred day simple moving average of $23.16.

PAR Technology (NYSE:PAR - Get Free Report) last issued 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. The firm had revenue of $123.97 million during the quarter, compared to analyst estimates of $116.88 million. PAR Technology had a negative return on equity of 2.57% and a negative net margin of 16.04%.The company's revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.01) EPS. Research analysts expect that PAR Technology will post -0.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other PAR Technology news, insider Cathy A. King sold 20,000 shares of the company's stock in a transaction 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 transaction, the insider owned 122,919 shares in the company, valued at $1,890,494.22. This represents a 13.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Voss Capital, Lp bought 594,900 shares of the stock in a transaction dated Thursday, May 14th. The shares were acquired 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 in the company, valued at approximately $68,208,250. This trade represents a 14.58% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of PAR Technology

Several hedge funds have recently added to or reduced their stakes in PAR. T. Rowe Price Investment Management Inc. grew its position in shares of PAR Technology by 3.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,916,459 shares of the software maker's stock valued at $214,650,000 after acquiring an additional 201,782 shares during the period. Vanguard Group Inc. raised its holdings in shares of PAR Technology by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 3,304,052 shares of the software maker's stock worth $119,871,000 after purchasing an additional 12,250 shares during the period. Capital Research Global Investors lifted its stake in PAR Technology by 17.3% in the third quarter. Capital Research Global Investors now owns 3,237,004 shares of the software maker's stock valued at $128,121,000 after purchasing an additional 476,839 shares during the last quarter. Progeny 3 Inc. lifted its stake 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 valued at $28,937,000 after purchasing an additional 114,500 shares during the last quarter. Finally, Reinhart Partners LLC. grew its holdings in PAR Technology by 45.6% during the fourth quarter. Reinhart Partners LLC. now owns 1,309,860 shares of the software maker's stock valued at $47,522,000 after purchasing an additional 410,183 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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