BTIG Research Reiterates Buy Rating for PAR Technology (NYSE:PAR)

PAR Technology (NYSE:PAR)‘s stock had its “buy” rating reaffirmed by equities research analysts at BTIG Research in a research note issued to investors on Friday,Benzinga reports. They presently have a $60.00 target price on the software maker’s stock. BTIG Research’s price target indicates a potential upside of 128.66% from the stock’s current price.

PAR has been the subject of a number of other reports. Needham & Company LLC restated a “buy” rating and set a $55.00 price objective on shares of PAR Technology in a research note on Friday, January 9th. The Goldman Sachs Group lowered their price target on shares of PAR Technology from $50.00 to $38.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. William Blair reaffirmed an “outperform” rating on shares of PAR Technology in a report on Tuesday, October 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of PAR Technology in a research note on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, PAR Technology currently has an average rating of “Moderate Buy” and a consensus target price of $64.00.

PAR Technology Price Performance

Shares of NYSE:PAR opened at $26.24 on Friday. The company has a market cap of $1.07 billion, a PE ratio of -12.26 and a beta of 1.35. PAR Technology has a fifty-two week low of $25.97 and a fifty-two week high of $74.13. The firm has a 50-day simple moving average of $35.15 and a 200 day simple moving average of $42.22. The company has a quick ratio of 1.51, a current ratio of 1.70 and a debt-to-equity ratio of 0.45.

PAR Technology (NYSE:PAR) last issued its earnings results on Thursday, November 6th. The software maker reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The company had revenue of $119.18 million during the quarter, compared to analyst estimates of $112.23 million. PAR Technology had a negative net margin of 19.21% and a negative return on equity of 2.56%. The business’s revenue was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. On average, sell-side analysts anticipate that PAR Technology will post -1.47 EPS for the current year.

Insider Buying and Selling

In other PAR Technology news, CFO Bryan A. Menar sold 6,500 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $35.53, for a total transaction of $230,945.00. Following the completion of the transaction, the chief financial officer directly owned 71,481 shares of the company’s stock, valued at approximately $2,539,719.93. This trade represents a 8.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Voss Capital, Lp purchased 25,000 shares of the stock in a transaction dated Tuesday, January 6th. The shares were purchased at an average price of $34.56 per share, for a total transaction of $864,000.00. Following the completion of the transaction, the insider owned 3,613,898 shares in the company, valued at $124,896,314.88. This trade represents a 0.70% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 196,035 shares of company stock valued at $7,103,730 over the last 90 days. 3.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PAR Technology

Several hedge funds and other institutional investors have recently bought and sold shares of PAR. ABS Direct Equity Fund LLC lifted its holdings in PAR Technology by 73.3% in the 4th quarter. ABS Direct Equity Fund LLC now owns 130,000 shares of the software maker’s stock valued at $4,716,000 after acquiring an additional 55,000 shares during the last quarter. UBS Group AG raised its holdings in shares of PAR Technology by 1.8% in the 4th quarter. UBS Group AG now owns 199,208 shares of the software maker’s stock worth $7,227,000 after purchasing an additional 3,536 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of PAR Technology by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 3,304,052 shares of the software maker’s stock worth $119,871,000 after purchasing an additional 12,250 shares in the last quarter. Marathon Capital Management lifted its stake in PAR Technology by 13.7% during the fourth quarter. Marathon Capital Management now owns 76,835 shares of the software maker’s stock valued at $2,788,000 after purchasing an additional 9,240 shares during the last quarter. Finally, Peregrine Capital Management LLC boosted its holdings in PAR Technology by 8.8% during the fourth quarter. Peregrine Capital Management LLC now owns 299,411 shares of the software maker’s stock worth $10,863,000 after buying an additional 24,143 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.