PAR Technology (NYSE:PAR) Given New $33.00 Price Target at Benchmark

PAR Technology (NYSE:PAR) had its price target cut by Benchmark from $42.00 to $33.00 in a research note released on Monday,Benzinga reports. They currently have a buy rating on the software maker’s stock.

PAR has been the subject of several other research reports. The Goldman Sachs Group lowered their price target on PAR Technology from $40.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of PAR Technology in a research report on Monday, December 29th. BTIG Research lowered their target price on shares of PAR Technology from $60.00 to $45.00 and set a “buy” rating for the company in a report on Friday, February 27th. 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. Finally, Needham & Company LLC cut their price target on shares of PAR Technology from $55.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $34.20.

PAR Technology Price Performance

PAR stock opened at $14.64 on Monday. PAR Technology has a 52-week low of $12.48 and a 52-week high of $72.15. The stock’s fifty day simple moving average is $25.33 and its 200-day simple moving average is $33.67. The company has a quick ratio of 1.46, a current ratio of 1.66 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $602.32 million, a price-to-earnings ratio of -7.04 and a beta of 1.36.

PAR Technology (NYSE:PAR) last released its earnings results on Thursday, February 26th. The software maker reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.16. PAR Technology had a negative return on equity of 2.32% and a negative net margin of 18.54%.The firm had revenue of $120.10 million during the quarter, compared to analyst estimates of $116.39 million. The firm’s revenue was up 14.4% compared to the same quarter last year. Equities research analysts expect that PAR Technology will post -1.47 EPS for the current year.

Insider Transactions at PAR Technology

In other PAR Technology news, major shareholder Voss Capital, Lp bought 182,862 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was purchased at an average price of $22.89 per share, with a total value of $4,185,711.18. Following the transaction, the insider owned 4,075,000 shares in the company, valued at $93,276,750. This trade represents a 4.70% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Savneet Singh sold 57,605 shares of the firm’s 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 $1,007,511.45. Following the completion of the transaction, the chief executive officer owned 252,537 shares in the company, valued at $4,416,872.13. The trade was a 18.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders bought 722,237 shares of company stock worth $21,772,998 and sold 90,689 shares worth $1,600,226. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On PAR Technology

Institutional investors have recently bought and sold shares of the business. Royal Bank of Canada increased its position in shares of PAR Technology by 8.0% in the first quarter. Royal Bank of Canada now owns 20,446 shares of the software maker’s stock worth $1,255,000 after acquiring an additional 1,515 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of PAR Technology during the 1st quarter valued at $309,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in PAR Technology by 4.6% during 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 purchasing an additional 874 shares during the period. Jones Financial Companies Lllp boosted its position in PAR Technology by 186,466.7% during the 1st quarter. Jones Financial Companies Lllp now owns 5,597 shares of the software maker’s stock worth $343,000 after purchasing an additional 5,594 shares during the period. Finally, Goldman Sachs Group Inc. increased 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 valued at $14,200,000 after purchasing an additional 51,316 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.