PAR Technology Corporation (NYSE:PAR) Receives $30.67 Consensus Target Price from Analysts

PAR Technology Corporation (NYSE:PAR) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $30.6667.

Several brokerages have issued reports on PAR. Jefferies Financial Group set a $18.00 price objective on shares of PAR Technology in a research report on Saturday, May 9th. Benchmark dropped their price target on shares of PAR Technology from $42.00 to $33.00 and set a “buy” rating for the company in a research report on Monday, March 16th. The Goldman Sachs Group dropped their price target on shares of PAR Technology from $40.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. BTIG Research dropped their price target on shares of PAR Technology from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Finally, Stephens dropped their price target on shares of PAR Technology from $60.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, February 27th.

PAR Technology Trading Up 4.6%

Shares of PAR stock opened at $14.84 on Friday. The firm has a 50 day moving average price of $13.93 and a two-hundred day moving average price of $24.96. The company has a quick ratio of 1.83, a current ratio of 2.10 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $612.19 million, a PE ratio of -7.94 and a beta of 1.32. PAR Technology has a 12-month low of $11.59 and a 12-month high of $72.15.

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. The firm had revenue of $123.97 million during the quarter, compared to the consensus estimate of $116.88 million. PAR Technology had a negative net margin of 16.04% and a negative return on equity of 2.57%. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period last year, the business posted ($0.01) earnings per share. As a group, analysts predict that PAR Technology will post -0.05 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Savneet Singh sold 14,310 shares of PAR Technology stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $18.27, for a total value of $261,443.70. Following the completion of the sale, the chief executive officer directly owned 238,227 shares in the company, valued at approximately $4,352,407.29. The trade was a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Michael Anthony Steenberge sold 2,342 shares of PAR Technology stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $17.49, for a total transaction of $40,961.58. Following the completion of the sale, the chief accounting officer owned 26,439 shares of the company’s stock, valued at approximately $462,418.11. The trade was a 8.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 90,689 shares of company stock valued at $1,600,226 in the last quarter. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On PAR Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE raised its position in shares of PAR Technology by 4.7% in the first quarter. Bank of America Corp DE now owns 118,705 shares of the software maker’s stock valued at $1,582,000 after buying an additional 5,374 shares in the last quarter. Quantinno Capital Management LP increased its stake in PAR Technology by 199.8% in the first quarter. Quantinno Capital Management LP now owns 73,935 shares of the software maker’s stock valued at $986,000 after acquiring an additional 49,276 shares during the last quarter. Progeny 3 Inc. increased its stake in PAR Technology by 5.6% in the first quarter. Progeny 3 Inc. now owns 2,170,808 shares of the software maker’s stock valued at $28,937,000 after acquiring an additional 114,500 shares during the last quarter. ABS Direct Equity Fund LLC increased its stake in PAR Technology by 15.4% in the first quarter. ABS Direct Equity Fund LLC now owns 150,000 shares of the software maker’s stock valued at $2,000,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Corsair Capital Management L.P. bought a new position in PAR Technology in the first quarter valued at approximately $133,000.

PAR Technology Company Profile

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.