PAR Technology (NYSE:PAR) Shares Break Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• PAR Technology shares moved above their 200-day moving average of $15.94, reaching $17.91 before last trading at $17.4650.
• Analyst sentiment remains favorable, with five Buy ratings, two Holds, and one Sell; the consensus rating is Moderate Buy with a $24.61 price target.
• The company exceeded quarterly expectations, reporting $0.18 in EPS versus $0.12 expected and $133.41 million in revenue, up 18.7% year over year.

Shares of PAR Technology Corporation (NYSE:PAR - Get Free Report) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $15.94 and traded as high as $17.91. PAR Technology shares last traded at $17.4650, with a volume of 462,381 shares trading hands.

Analyst Ratings Changes

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

PAR Technology Trading Down 1.6%

The company has a debt-to-equity ratio of 0.52, a current ratio of 2.21 and a quick ratio of 1.89. The stock has a market capitalization of $722.35 million, a price-to-earnings ratio of -9.92 and a beta of 1.35. The business has a 50 day simple moving average of $17.01 and a 200-day simple moving average of $15.94.

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

Insider Activity

In other PAR Technology news, Director Narinder Singh bought 11,518 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was acquired at an average cost of $17.36 per share, with a total value of $199,952.48. Following the purchase, the director owned 38,527 shares in the company, valued at $668,828.72. This trade represents a 42.65% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PAR. BlackRock Inc. bought a new stake in shares of PAR Technology during the second quarter worth $70,563,000. Bandera Partners LLC bought a new stake in PAR Technology in the 1st quarter valued at $9,331,000. Renaissance Technologies LLC bought a new stake in PAR Technology in the 1st quarter valued at $5,508,000. Visionary Wealth Advisors acquired a new position in PAR Technology in the 2nd quarter worth $6,844,000. Finally, Rice Hall James & Associates LLC acquired a new position in PAR Technology in the 2nd quarter worth $6,601,000.

PAR Technology Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.