PAR Technology Corporation (NYSE:PAR) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of PAR Technology Corporation (NYSE:PAR) have been given a consensus rating of “Moderate Buy” by the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $30.6667.

Several brokerages recently issued reports on PAR. Jefferies Financial Group set a $18.00 price target on PAR Technology in a report on Saturday, May 9th. The Goldman Sachs Group cut their price target on PAR Technology from $40.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. BTIG Research cut their price target on PAR Technology from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Stephens lowered their target price on PAR Technology from $60.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Finally, Benchmark lowered their target price on PAR Technology from $42.00 to $33.00 and set a “buy” rating on the stock in a research report on Monday, March 16th.

PAR Technology Trading Down 0.5%

Shares of NYSE PAR opened at $14.64 on Friday. The company has a market cap of $603.86 million, a price-to-earnings ratio of -7.83 and a beta of 1.32. PAR Technology has a 12-month low of $11.59 and a 12-month high of $72.15. The company has a current ratio of 2.10, a quick ratio of 1.83 and a debt-to-equity ratio of 0.51. The stock’s 50 day simple moving average is $14.02 and its 200 day simple moving average is $25.18.

PAR Technology (NYSE:PAR) last announced its quarterly earnings results on Thursday, May 7th. The software maker reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.03. The business had revenue of $123.97 million for the quarter, compared to the consensus estimate of $116.88 million. PAR Technology had a negative return on equity of 2.57% and a negative net margin of 16.04%.The business’s revenue was up 19.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) EPS. Equities research analysts expect that PAR Technology will post -0.05 EPS for the current year.

Insider Transactions at PAR Technology

In other PAR Technology news, major shareholder Voss Capital, Lp bought 125,000 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were purchased at an average cost of $14.62 per share, for a total transaction of $1,827,500.00. Following the transaction, the insider directly owned 4,775,000 shares in the company, valued at $69,810,500. The trade was a 2.69% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Michael Anthony Steenberge sold 2,342 shares of PAR Technology stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $17.49, for a total value of $40,961.58. Following the transaction, the chief accounting officer owned 26,439 shares in the company, valued at approximately $462,418.11. This trade represents a 8.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 90,689 shares of company stock worth $1,600,226 over the last quarter. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On PAR Technology

Several hedge funds have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. increased 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 purchasing an additional 201,782 shares during the period. Vanguard Group Inc. increased its position in shares of PAR Technology by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 3,304,052 shares of the software maker’s stock valued at $119,871,000 after purchasing an additional 12,250 shares during the period. Capital Research Global Investors increased its position in shares of PAR Technology by 17.3% during the 3rd 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 period. Progeny 3 Inc. increased its position in shares of PAR Technology by 5.6% during the 1st 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 period. Finally, Reinhart Partners LLC. increased its position in shares of PAR Technology by 45.6% during the 4th 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.