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

PAR Technology (NYSE:PAR)‘s stock had its “buy” rating reaffirmed by investment analysts at BTIG Research in a note issued to investors on Friday,Benzinga reports. They currently have a $60.00 target price on the software maker’s stock. BTIG Research’s price objective would indicate a potential upside of 118.12% from the stock’s previous close.

Several other equities analysts also recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of PAR Technology in a research report on Monday, December 29th. Needham & Company LLC restated a “buy” rating and issued a $55.00 target price on shares of PAR Technology in a report on Friday, January 9th. The Goldman Sachs Group cut their price target on shares of PAR Technology from $50.00 to $38.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Finally, William Blair restated an “outperform” rating on shares of PAR Technology in a report on Tuesday, October 14th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

PAR Technology Stock Down 3.6%

Shares of NYSE PAR opened at $27.51 on Friday. The firm has a market cap of $1.12 billion, a P/E ratio of -12.85 and a beta of 1.35. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.51 and a current ratio of 1.70. PAR Technology has a 1 year low of $27.29 and a 1 year high of $74.39. The firm’s 50 day moving average price is $35.30 and its 200 day moving average price is $42.70.

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

Insiders Place Their Bets

In other PAR Technology news, major shareholder Voss Capital, Lp bought 146,789 shares of PAR Technology stock in a transaction that occurred on Tuesday, December 30th. The shares were acquired at an average price of $36.51 per share, for a total transaction of $5,359,266.39. Following the acquisition, the insider owned 3,564,652 shares of the company’s stock, valued at $130,145,444.52. The trade was a 4.29% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Bryan A. Menar sold 6,500 shares of the company’s 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 sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders bought 196,035 shares of company stock worth $7,103,730. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On PAR Technology

Several hedge funds have recently modified their holdings of the stock. Huntington National Bank boosted its holdings in PAR Technology by 66.2% in the 2nd quarter. Huntington National Bank now owns 437 shares of the software maker’s stock worth $30,000 after acquiring an additional 174 shares during the period. Advisors Asset Management Inc. lifted its position in shares of PAR Technology by 68.6% during the second quarter. Advisors Asset Management Inc. now owns 563 shares of the software maker’s stock worth $39,000 after purchasing an additional 229 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of PAR Technology by 9.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 5,095 shares of the software maker’s stock worth $353,000 after purchasing an additional 437 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of PAR Technology by 31.4% in the second quarter. Farther Finance Advisors LLC now owns 1,835 shares of the software maker’s stock valued at $127,000 after purchasing an additional 438 shares during the period. Finally, SkyView Investment Advisors LLC grew its holdings in 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 purchasing an additional 548 shares in the last quarter.

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.