PAR Technology (NYSE:PAR) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

PAR Technology (NYSE:PAR) had its price objective boosted by analysts at JPMorgan Chase & Co. from $17.00 to $18.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the software maker’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 7.53% from the company’s previous close.

Other analysts also recently issued research reports about the company. The Goldman Sachs Group lifted 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. Weiss Ratings reiterated a “sell (e+)” rating on shares of PAR Technology in a research report on Friday, July 10th. Royal Bank Of Canada set a $16.00 target price on shares of PAR Technology in a research note on Tuesday, June 9th. BTIG Research dropped their price target on shares of PAR Technology from $45.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday. Finally, UBS Group set a $16.00 price objective on shares of PAR Technology in a report on Tuesday, June 9th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.61.

PAR Technology Stock Performance

Shares of NYSE:PAR traded down $0.38 during trading hours on Friday, hitting $16.74. The stock had a trading volume of 535,653 shares, compared to its average volume of 1,494,143. The stock’s fifty day simple moving average is $16.15 and its 200 day simple moving average is $17.24. The firm has a market capitalization of $690.46 million, a price-to-earnings ratio of -8.95 and a beta of 1.33. 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 1-year low of $11.59 and a 1-year high of $58.85.

PAR Technology (NYSE:PAR) last issued its quarterly earnings data 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. PAR Technology had a negative return on equity of 2.57% and a negative net margin of 16.04%.The business had revenue of $123.97 million during the quarter, compared to the consensus estimate of $116.88 million. During the same period in the previous year, the firm posted ($0.01) earnings per share. The business’s revenue was up 19.4% on a year-over-year basis. Sell-side analysts anticipate that PAR Technology will post -0.16 earnings per share for the current fiscal year.

Insider Activity

In other PAR Technology news, insider Cathy A. King sold 20,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $15.38, for a total value of $307,600.00. Following the completion of the sale, the insider directly owned 122,919 shares of the company’s stock, valued at approximately $1,890,494.22. This represents a 13.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Voss Capital, Lp acquired 156,249 shares of PAR Technology stock in a transaction dated Friday, June 12th. The shares were acquired at an average price of $14.85 per share, with a total value of $2,320,297.65. Following the transaction, the insider owned 5,125,000 shares in the company, valued at approximately $76,106,250. This represents a 3.14% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 1,069,900 shares of company stock worth $15,568,965. 2.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. OneDigital Investment Advisors LLC bought a new position in shares of PAR Technology in the second quarter valued at $977,000. State of Wyoming bought a new stake in shares of PAR Technology during the 2nd quarter worth $43,000. GSA Capital Partners LLP acquired a new position in shares of PAR Technology in the 2nd quarter worth $652,000. Versant Capital Management Inc grew its holdings in shares of PAR Technology by 325.5% in the 2nd quarter. Versant Capital Management Inc now owns 5,110 shares of the software maker’s stock worth $89,000 after acquiring an additional 3,909 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of PAR Technology by 4.7% during the first quarter. Bank of America Corp DE now owns 118,705 shares of the software maker’s stock worth $1,582,000 after purchasing an additional 5,374 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.