JPMorgan Chase & Co. Issues Positive Forecast for PAR Technology (NYSE:PAR) Stock Price

PAR Technology (NYSE:PAR) had its price target hoisted by JPMorgan Chase & Co. from $18.00 to $19.00 in a report published on Friday morning,Benzinga reports. The firm currently has a neutral rating on the software maker’s stock.

A number of other research firms have also recently issued reports on PAR. BTIG Research lowered their target price on PAR Technology from $45.00 to $30.00 and set a “buy” rating for the company in a report on Friday, August 7th. Needham & Company LLC lifted their price target on PAR Technology from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Friday. Weiss Ratings upgraded PAR Technology from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 27th. Finally, The Goldman Sachs Group upped their price objective on PAR Technology from $18.00 to $20.50 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.28.

PAR Technology Stock Down 0.5%

Shares of PAR stock opened at $20.46 on Friday. The firm has a fifty day moving average of $16.75 and a 200-day moving average of $17.07. The company has a quick ratio of 1.89, a current ratio of 2.21 and a debt-to-equity ratio of 0.52. PAR Technology has a 12-month low of $11.59 and a 12-month high of $40.54. The company has a market capitalization of $846.06 million, a price-to-earnings ratio of -13.37 and a beta of 1.32.

PAR Technology (NYSE:PAR) last issued its quarterly earnings data on Thursday, November 5th. The software maker reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The business had revenue of $137.11 million for the quarter, compared to analyst estimates of $129.79 million. PAR Technology had a negative net margin of 12.24% and a negative return on equity of 0.69%. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period last year, the business posted $0.06 earnings per share. As a group, equities research analysts predict that PAR Technology will post -0.13 earnings per share for the current fiscal year.

Insider Activity

In other PAR Technology news, Director Narinder Singh acquired 11,518 shares of the stock in a transaction dated Wednesday, August 12th. The shares were bought at an average cost of $17.36 per share, for a total transaction of $199,952.48. Following the completion of the acquisition, the director directly owned 38,527 shares of the company’s stock, valued at approximately $668,828.72. This trade represents a 42.65% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PAR. Fulcrum Asset Management LLP raised its holdings in PAR Technology by 14,008.7% during the third quarter. Fulcrum Asset Management LLP now owns 6,490 shares of the software maker’s stock worth $88,000 after acquiring an additional 6,444 shares in the last quarter. CenterBook Partners LP boosted its position in PAR Technology by 41.0% during the third quarter. CenterBook Partners LP now owns 33,105 shares of the software maker’s stock valued at $456,000 after purchasing an additional 9,628 shares during the last quarter. Inspire Investing LLC boosted its position in PAR Technology by 18.8% during the third 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 grew its stake in PAR Technology by 18.5% in the third quarter. Penbrook Management LLC now owns 63,700 shares of the software maker’s stock valued at $877,000 after purchasing an additional 9,940 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in PAR Technology in the third quarter valued at approximately $933,000.

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.