Brokerages Set PAR Technology Corporation (NYSE:PAR) Target Price at $34.20

Shares of PAR Technology Corporation (NYSE:PAR) have been given a consensus rating of “Moderate Buy” by the seven ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $34.20.

A number of brokerages have recently issued reports on PAR. The Goldman Sachs Group lowered their price target on PAR Technology from $40.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. Needham & Company LLC reduced their price objective on PAR Technology from $55.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Benchmark decreased their price objective on PAR Technology from $42.00 to $33.00 and set a “buy” rating on the stock in a report on Monday, March 16th. Stephens lowered their target price on shares of PAR Technology from $60.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. Finally, BTIG Research dropped 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.

Insider Transactions at PAR Technology

In other PAR Technology news, major shareholder Voss Capital, Lp acquired 182,862 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was bought at an average price of $22.89 per share, with a total value of $4,185,711.18. Following the purchase, the insider owned 4,075,000 shares in the company, valued at approximately $93,276,750. The trade was a 4.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Savneet Singh sold 57,605 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 252,537 shares of the company’s stock, valued at approximately $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 have purchased 722,237 shares of company stock worth $21,772,998 and have sold 90,689 shares worth $1,600,226. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On PAR Technology

A number of institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. grew its holdings in PAR Technology by 68.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 563 shares of the software maker’s stock valued at $39,000 after buying an additional 229 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of PAR Technology by 6.9% during the 4th 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 period. SkyView Investment Advisors LLC boosted its position in shares of PAR Technology by 3.3% during the 2nd quarter. SkyView Investment Advisors LLC now owns 16,915 shares of the software maker’s stock valued at $1,153,000 after acquiring an additional 548 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of PAR Technology by 16.4% in the second quarter. Ameritas Investment Partners Inc. now owns 4,095 shares of the software maker’s stock valued at $284,000 after purchasing an additional 577 shares during the period. Finally, &PARTNERS grew its holdings in shares of PAR Technology by 10.6% in the fourth quarter. &PARTNERS now owns 6,444 shares of the software maker’s stock valued at $234,000 after purchasing an additional 620 shares during the period.

PAR Technology Stock Up 0.0%

PAR opened at $12.82 on Friday. PAR Technology has a twelve month low of $12.42 and a twelve month high of $72.15. 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 company has a 50-day moving average price of $21.09 and a 200 day moving average price of $31.46. The company has a market cap of $528.49 million, a PE ratio of -6.16 and a beta of 1.36.

PAR Technology (NYSE:PAR) last posted its quarterly earnings data on Thursday, February 26th. The software maker reported $0.06 earnings per share (EPS) for the quarter, topping 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 company had revenue of $120.10 million for the quarter, compared to analysts’ expectations of $116.39 million. PAR Technology’s revenue was up 14.4% on a year-over-year basis. Sell-side analysts expect that PAR Technology will post -1.47 earnings per share for the current fiscal year.

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.