PAR Technology (NYSE:PAR) Share Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• PAR Technology shares rose 2.8%, trading as high as $17.80 and moving above the 200-day average of $17.64; the stock last traded at $17.6780.
• Analysts maintain a “Moderate Buy” consensus, with five Buy, two Hold, and one Sell rating and an average price target of $24.61.
• PAR reported quarterly EPS of $0.18, beating expectations of $0.12, while revenue reached $133.41 million, up 18.7% year over year; however, the company posted a negative net margin of 14.52%.

PAR Technology Corporation (NYSE:PAR - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $17.64 and traded as high as $17.80. PAR Technology shares last traded at $17.6780, with a volume of 756,840 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PAR shares. Needham & Company LLC reaffirmed a "buy" rating and set a $25.00 target price on shares of PAR Technology in a research report on Monday, September 28th. The Goldman Sachs Group lifted their price target on shares of PAR Technology from $18.00 to $20.50 and gave the company a "neutral" rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. boosted their price target on PAR Technology from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Weiss Ratings raised PAR Technology from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, August 27th. Finally, BTIG Research lowered their price objective on shares of PAR Technology from $45.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $24.61.

PAR Technology Stock Up 2.8%

The company has a 50-day moving average of $16.82 and a 200-day moving average of $17.64. The company has a current ratio of 2.21, a quick ratio of 1.89 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $731.16 million, a price-to-earnings ratio of -10.04 and a beta of 1.35.

PAR Technology (NYSE:PAR - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The software maker reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.06. The firm had revenue of $133.41 million for the quarter, compared to the consensus estimate of $124.66 million. PAR Technology had a negative net margin of 14.52% and a negative return on equity of 1.62%. The company's revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.03 earnings per share. On average, equities analysts predict that PAR Technology Corporation will post -0.13 earnings per share for the current fiscal year.

Insider Activity

In other PAR Technology news, Director Narinder Singh purchased 11,518 shares of PAR Technology stock in a transaction on Wednesday, August 12th. The stock was bought at an average cost of $17.36 per share, with a total value of $199,952.48. Following the transaction, the director owned 38,527 shares of the company's stock, valued at $668,828.72. This represents a 42.65% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.30% of the stock is currently owned by insiders.

Institutional Trading of PAR Technology

A number of hedge funds have recently added to or reduced their stakes in the company. Inspire Investing LLC raised its stake in PAR Technology by 18.8% in the 3rd quarter. Inspire Investing LLC now owns 46,099 shares of the software maker's stock valued at $634,000 after purchasing an additional 7,309 shares during the last quarter. Penbrook Management LLC boosted its stake in PAR Technology by 18.5% during the 3rd quarter. Penbrook Management LLC now owns 63,700 shares of the software maker's stock worth $877,000 after purchasing an additional 9,940 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in PAR Technology during the 3rd quarter worth $933,000. WINTON GROUP Ltd purchased a new stake in shares of PAR Technology during the second quarter worth $526,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of PAR Technology during the second quarter worth $116,000.

About PAR Technology

PAR Technology Corporation NYSE: PAR provides technology solutions for the restaurant and hospitality industries. Its offerings include point-of-sale systems, restaurant management software, digital ordering, loyalty and customer-engagement tools, payment solutions, workforce management, and related hardware and support services.

The company's portfolio includes Brink POS, a cloud-based restaurant point-of-sale platform, and Punchh, a customer loyalty and engagement platform. PAR also provides tools designed to help restaurant operators manage digital channels, payments, data, and guest relationships through integrated technology solutions.

Founded in 1968, PAR Technology has expanded from its origins in restaurant and hospitality technology through organic development and acquisitions, including Punchh and Stuzo.

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