PAR Technology Corporation (NYSE:PAR) Receives $33.20 Average Price Target from Brokerages

Shares of PAR Technology Corporation (NYSE:PAR) have earned an average rating of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $33.20.

Several research firms have recently weighed in on PAR. Stephens lowered their price target on PAR Technology from $60.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, February 27th. William Blair reissued an “outperform” rating on shares of PAR Technology in a report on Friday, March 13th. The Goldman Sachs Group reduced their price objective on PAR Technology from $40.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of PAR Technology in a research note on Friday, March 27th. Finally, Benchmark reduced their price objective on PAR Technology from $42.00 to $33.00 and set a “buy” rating for the company in a research note on Monday, March 16th.

PAR Technology Price Performance

NYSE PAR opened at $13.41 on Tuesday. The business’s fifty day moving average price is $15.89 and its 200-day moving average price is $27.92. The stock has a market capitalization of $553.08 million, a price-to-earnings ratio of -6.45 and a beta of 1.48. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.66 and a quick ratio of 1.46. PAR Technology has a 1-year low of $11.59 and a 1-year high of $72.15.

PAR Technology (NYSE:PAR) last released its quarterly earnings results on Thursday, February 26th. The software maker reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.16. The firm had revenue of $120.10 million for the quarter, compared to analysts’ expectations of $116.39 million. PAR Technology had a negative return on equity of 2.32% and a negative net margin of 18.54%.The firm’s revenue was up 14.4% compared to the same quarter last year. On average, equities analysts predict that PAR Technology will post -0.05 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Savneet Singh sold 57,605 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $17.49, for a total value of $1,007,511.45. Following the completion of the transaction, the chief executive officer owned 252,537 shares of the company’s stock, valued at approximately $4,416,872.13. This represents a 18.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Michael Anthony Steenberge sold 2,342 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $17.49, for a total transaction of $40,961.58. Following the completion of the transaction, the chief accounting officer directly owned 26,439 shares of the company’s stock, valued at $462,418.11. This represents a 8.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have purchased 425,100 shares of company stock worth $10,798,592 and have sold 90,689 shares worth $1,600,226. 3.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PAR. Royal Bank of Canada boosted its holdings in PAR Technology by 8.0% in the 1st quarter. Royal Bank of Canada now owns 20,446 shares of the software maker’s stock worth $1,255,000 after buying an additional 1,515 shares during the period. AQR Capital Management LLC bought a new position in PAR Technology in the 1st quarter worth $309,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in PAR Technology by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,012 shares of the software maker’s stock worth $1,228,000 after buying an additional 874 shares during the period. Jones Financial Companies Lllp boosted its holdings in PAR Technology by 186,466.7% in the 1st quarter. Jones Financial Companies Lllp now owns 5,597 shares of the software maker’s stock worth $343,000 after buying an additional 5,594 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in PAR Technology by 28.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 231,494 shares of the software maker’s stock worth $14,200,000 after buying an additional 51,316 shares during the period.

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.