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

PAR Technology (NYSE:PAR) had its price target lifted by equities researchers at JPMorgan Chase & Co. from $18.00 to $19.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the software maker’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 7.12% from the stock’s current price.

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

PAR Technology Stock Performance

Shares of NYSE PAR opened at $20.46 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.21 and a quick ratio of 1.89. The firm has a market cap of $846.06 million, a price-to-earnings ratio of -13.37 and a beta of 1.32. The stock’s fifty day moving average price is $16.75 and its two-hundred day moving average price is $17.07. PAR Technology has a one year low of $11.59 and a one year high of $40.54.

PAR Technology (NYSE:PAR) last posted its earnings results on Thursday, November 5th. The software maker reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The company had revenue of $137.11 million during the quarter, compared to the consensus estimate of $129.79 million. PAR Technology had a negative return on equity of 0.69% and a negative net margin of 12.24%. The company’s revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.06 earnings per share. On average, equities analysts forecast that PAR Technology will post -0.13 EPS for the current year.

Insiders Place Their Bets

In related news, Director Narinder Singh acquired 11,518 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was purchased at an average cost of $17.36 per share, with a total value of $199,952.48. Following the acquisition, the director directly owned 38,527 shares of the company’s stock, valued at approximately $668,828.72. The trade was a 42.65% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of PAR Technology

Several hedge funds and other institutional investors have recently made changes to their positions in PAR. BlackRock Inc. bought a new position in shares of PAR Technology during the second quarter valued at $70,563,000. Bandera Partners LLC acquired a new position in shares of PAR Technology during the first quarter worth $9,331,000. Renaissance Technologies LLC bought a new stake in shares of PAR Technology in the first quarter worth $5,508,000. Visionary Wealth Advisors bought a new stake in shares of PAR Technology in the second quarter worth $6,844,000. Finally, Rice Hall James & Associates LLC acquired a new stake in PAR Technology in the second quarter valued at $6,601,000.

About PAR Technology

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.