PAR Technology (NYSE:PAR) Shares Up 10.3% – Time to Buy?

PAR Technology Corporation (NYSE:PAR) shares shot up 10.3% during trading on Monday . The stock traded as high as $12.63 and last traded at $13.0320. 95,769 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 1,784,426 shares. The stock had previously closed at $11.82.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PAR. Weiss Ratings reissued a “sell (d-)” rating on shares of PAR Technology in a report on Friday, March 27th. William Blair reissued an “outperform” rating on shares of PAR Technology in a report on Friday, March 13th. Stephens dropped their price objective on PAR Technology from $60.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, February 27th. Needham & Company LLC dropped their price objective on PAR Technology from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Finally, BTIG Research dropped their price objective on PAR Technology from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, PAR Technology has a consensus rating of “Moderate Buy” and an average target price of $33.20.

PAR Technology Price Performance

The company has a debt-to-equity ratio of 0.45, a current ratio of 1.66 and a quick ratio of 1.46. The stock has a 50 day moving average price of $17.05 and a 200-day moving average price of $28.99. The stock has a market capitalization of $550.97 million, a price-to-earnings ratio of -6.42 and a beta of 1.48.

PAR Technology (NYSE:PAR) last issued its quarterly earnings results on Thursday, February 26th. The software maker reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.16. The firm had revenue of $120.10 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 14.4% compared to the same quarter last year. On average, analysts forecast that PAR Technology Corporation will post -1.47 earnings per share for the current year.

Insider Transactions at PAR Technology

In other news, major shareholder Voss Capital, Lp purchased 65,100 shares of the stock in a transaction dated Wednesday, February 4th. The shares were purchased at an average cost of $22.44 per share, with a total value of $1,460,844.00. Following the completion of the purchase, the insider directly owned 4,140,100 shares of the company’s stock, valued at approximately $92,903,844. The trade was a 1.60% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Bryan A. Menar sold 1,636 shares of PAR Technology stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $18.27, for a total value of $29,889.72. Following the completion of the sale, the chief financial officer directly owned 63,257 shares in the company, valued at $1,155,705.39. This represents a 2.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders acquired 485,168 shares of company stock valued at $13,064,839 and sold 90,689 shares valued at $1,600,226. Insiders own 3.70% of the company’s stock.

Institutional Trading of PAR Technology

A number of institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC boosted its stake in shares of PAR Technology by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 7,330 shares of the software maker’s stock worth $266,000 after acquiring an additional 471 shares during the last quarter. SkyView Investment Advisors LLC lifted its position in PAR Technology by 3.3% during the second quarter. SkyView Investment Advisors LLC now owns 16,915 shares of the software maker’s stock worth $1,153,000 after buying an additional 548 shares in the last quarter. &PARTNERS lifted its position in PAR Technology by 10.6% during the fourth quarter. &PARTNERS now owns 6,444 shares of the software maker’s stock worth $234,000 after buying an additional 620 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in PAR Technology by 6.8% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 9,835 shares of the software maker’s stock worth $357,000 after buying an additional 622 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in PAR Technology during the third quarter worth approximately $26,000.

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.