PAR Technology (NYSE:PAR) Given New $45.00 Price Target at BTIG Research

PAR Technology (NYSE:PAR) had its target price cut by equities research analysts at BTIG Research from $60.00 to $45.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. BTIG Research’s price target would indicate a potential upside of 100.98% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of PAR Technology in a research report on Monday, December 29th. Needham & Company LLC decreased their price target on shares of PAR Technology from $55.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday. Six 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.00.

PAR Technology Trading Up 7.7%

Shares of PAR Technology stock opened at $22.39 on Friday. PAR Technology has a 1 year low of $19.28 and a 1 year high of $72.15. The company has a market capitalization of $908.81 million, a P/E ratio of -10.46 and a beta of 1.35. The business has a 50 day moving average price of $30.07 and a 200 day moving average price of $36.78. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.70 and a quick ratio of 1.51.

Insider Buying and Selling at PAR Technology

In other news, CFO Bryan A. Menar sold 6,500 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $35.53, for a total value of $230,945.00. Following the completion of the sale, the chief financial officer owned 71,481 shares in the company, valued at $2,539,719.93. This represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Voss Capital, Lp acquired 25,000 shares of the stock in a transaction on Tuesday, January 6th. The stock was bought at an average cost of $34.56 per share, for a total transaction of $864,000.00. Following the transaction, the insider owned 3,613,898 shares of the company’s stock, valued at approximately $124,896,314.88. This trade represents a 0.70% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 196,035 shares of company stock valued at $7,103,730. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PAR. T. Rowe Price Investment Management Inc. raised its holdings 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 buying an additional 201,782 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of PAR Technology by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 3,304,052 shares of the software maker’s stock valued at $119,871,000 after acquiring an additional 12,250 shares in the last quarter. Capital Research Global Investors increased its position in shares of PAR Technology by 17.3% during 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 buying an additional 476,839 shares during the period. Progeny 3 Inc. lifted its stake in shares of PAR Technology by 18.7% in the 4th quarter. Progeny 3 Inc. now owns 2,056,308 shares of the software maker’s stock valued at $74,603,000 after purchasing an additional 323,990 shares during the period. Finally, Invesco Ltd. lifted its position in PAR Technology by 24.1% during the second quarter. Invesco Ltd. now owns 1,877,239 shares of the software maker’s stock valued at $130,224,000 after buying an additional 364,892 shares during the period.

About PAR Technology

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.