JPMorgan Chase & Co. Forecasts Strong Price Appreciation for PAR Technology (NYSE:PAR) Stock

PAR Technology (NYSE:PAR) had its price target upped by JPMorgan Chase & Co. from $16.00 to $17.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the software maker’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 2.98% from the company’s previous close.

PAR has been the subject of a number of other reports. Needham & Company LLC lowered their price objective on PAR Technology from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. William Blair reissued an “outperform” rating on shares of PAR Technology in a research note on Friday, March 13th. Royal Bank Of Canada set a $16.00 target price on shares of PAR Technology in a report on Tuesday, June 9th. Benchmark cut their price target on shares of PAR Technology from $42.00 to $33.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of PAR Technology in a report on Friday, March 27th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, PAR Technology has a consensus rating of “Moderate Buy” and an average target price of $25.89.

PAR Technology Price Performance

Shares of PAR stock traded up $1.13 on Wednesday, reaching $16.51. The company had a trading volume of 298,325 shares, compared to its average volume of 1,614,008. The stock has a market capitalization of $680.96 million, a PE ratio of -8.79 and a beta of 1.35. The company has a quick ratio of 1.83, a current ratio of 2.10 and a debt-to-equity ratio of 0.51. PAR Technology has a one year low of $11.59 and a one year high of $72.15. The business’s 50-day moving average is $14.42 and its 200 day moving average is $21.67.

PAR Technology (NYSE:PAR) last issued its earnings results on Thursday, May 7th. The software maker reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $116.88 million. During the same quarter in the prior year, the firm earned ($0.01) EPS. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. Equities research analysts forecast that PAR Technology will post -0.28 EPS for the current fiscal year.

Insider Activity at PAR Technology

In other PAR Technology news, insider Cathy A. King sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $15.38, for a total value of $307,600.00. Following the completion of the sale, the insider owned 122,919 shares in the company, valued at approximately $1,890,494.22. The trade was a 13.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 purchased 156,249 shares of the company’s stock in a transaction on Friday, June 12th. The shares were purchased at an average cost of $14.85 per share, with a total value of $2,320,297.65. Following the transaction, the insider directly owned 5,125,000 shares in the company, valued at $76,106,250. This trade represents a 3.14% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 1,069,900 shares of company stock worth $15,568,965 over the last quarter. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of PAR Technology

Several institutional investors and hedge funds have recently bought and sold shares of the stock. FNY Investment Advisers LLC bought a new stake in shares of PAR Technology during the third quarter valued at approximately $26,000. Aster Capital Management DIFC Ltd bought a new position in PAR Technology in the third quarter worth $28,000. State of Wyoming purchased a new position in PAR Technology during the fourth quarter valued at $34,000. Kestra Advisory Services LLC purchased a new position in PAR Technology during the fourth quarter valued at $35,000. Finally, Central Pacific Bank Trust Division boosted its holdings in shares of PAR Technology by 50.0% during the 4th quarter. Central Pacific Bank Trust Division now owns 3,000 shares of the software maker’s stock valued at $109,000 after buying an additional 1,000 shares in the last quarter.

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.