PAR Technology (NYSE:PAR) Stock Jumps 4.4% – Still a Buy?

PAR Technology Corporation (NYSE:PAR) shares rose 4.4% during mid-day trading on Tuesday. The stock traded as high as $16.17 and last traded at $16.19. Approximately 20,965 shares traded hands during trading, a decline of 98% from the average daily volume of 1,362,225 shares. The stock had previously closed at $15.51.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. BTIG Research reduced their price objective on PAR Technology from $45.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, August 7th. JPMorgan Chase & Co. upped their price target on shares of PAR Technology from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Weiss Ratings upgraded PAR Technology from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 27th. The Goldman Sachs Group raised their target price on PAR Technology from $18.00 to $20.50 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Finally, Needham & Company LLC restated a “buy” rating and set a $25.00 target price on shares of PAR Technology in a report on Monday, September 28th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, PAR Technology has an average rating of “Moderate Buy” and an average target price of $24.61.

PAR Technology Stock Performance

The business has a fifty day moving average of $17.03 and a 200 day moving average of $15.79. The company has a quick ratio of 1.89, a current ratio of 2.21 and a debt-to-equity ratio of 0.52.

PAR Technology (NYSE:PAR) last released its quarterly earnings results on Thursday, August 6th. The software maker reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.06. PAR Technology had a negative return on equity of 1.62% and a negative net margin of 14.52%. The company had revenue of $133.41 million during the quarter, compared to the consensus estimate of $124.66 million. During the same quarter in the prior year, the company posted $0.03 EPS. The firm’s revenue was up 18.7% on a year-over-year basis. On average, sell-side analysts anticipate that PAR Technology Corporation will post -0.13 EPS for the current year.

Insider Activity

In other PAR Technology news, Director Narinder Singh purchased 11,518 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were acquired at an average cost of $17.36 per share, for a total transaction of $199,952.48. Following the transaction, the director directly owned 38,527 shares in the company, valued at approximately $668,828.72. The trade was a 42.65% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On PAR Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in PAR Technology in the 2nd quarter valued at $70,563,000. Progeny 3 Inc. raised its holdings in PAR Technology by 5.6% in the 1st quarter. Progeny 3 Inc. now owns 2,170,808 shares of the software maker’s stock valued at $28,937,000 after acquiring an additional 114,500 shares during the period. Bandera Partners LLC acquired a new stake in PAR Technology during the first quarter worth approximately $9,331,000. AYAL Capital Advisors Ltd lifted its position in PAR Technology by 70.8% during the fourth quarter. AYAL Capital Advisors Ltd now owns 205,000 shares of the software maker’s stock worth $7,437,000 after acquiring an additional 85,000 shares during the last quarter. Finally, Visionary Wealth Advisors bought a new stake in shares of PAR Technology during the second quarter worth approximately $6,844,000.

PAR Technology Company Profile

PAR Technology Corporation (NYSE:PAR) provides technology solutions for the restaurant and hospitality industries. Its platform is designed to help restaurant brands manage point-of-sale operations, payments, back-office workflows, guest engagement, loyalty programs and related data across corporate and franchised locations.

The company’s portfolio includes Brink, a cloud-based restaurant point-of-sale system; PAR Pay payment solutions; and guest engagement and loyalty capabilities associated with Punchh.