PAR Technology (NYSE:PAR) Stock Price Breaks Above Two Hundred Day Moving Average – Here’s Why

PAR Technology Corporation (NYSE:PAR)’s share price passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $17.64 and traded as high as $17.80. PAR Technology shares last traded at $17.6780, with a volume of 756,840 shares traded.

Wall Street Analysts Forecast Growth

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

PAR Technology Stock Performance

The stock’s 50-day moving average is $16.79 and its 200-day moving average is $17.53. The stock has a market cap of $730.06 million, a price-to-earnings ratio of -10.03 and a beta of 1.35. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.21 and a quick ratio of 1.89.

PAR Technology (NYSE:PAR) last issued its quarterly earnings results on Thursday, August 6th. The software maker reported $0.18 earnings per share for the quarter, beating 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 period in the previous year, the firm posted $0.03 EPS. PAR Technology’s revenue was up 18.7% on a year-over-year basis. Analysts anticipate that PAR Technology Corporation will post -0.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other PAR Technology news, Director Narinder Singh bought 11,518 shares of PAR Technology stock in a transaction that occurred on Wednesday, August 12th. The shares were purchased at an average cost of $17.36 per share, for a total transaction of $199,952.48. Following the completion of the transaction, the director owned 38,527 shares of the company’s stock, valued at $668,828.72. This represents a 42.65% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bank of America Corp DE bought a new stake in shares of PAR Technology in the second quarter worth $5,181,000. Progeny 3 Inc. raised its holdings in PAR Technology by 5.6% in the first 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 in the last quarter. Hsbc Holdings PLC bought a new position in PAR Technology during the 2nd quarter valued at $1,308,000. Stephens Investment Management Group LLC boosted its stake in PAR Technology by 62.2% during the 1st quarter. Stephens Investment Management Group LLC now owns 458,621 shares of the software maker’s stock valued at $6,113,000 after acquiring an additional 175,831 shares during the last quarter. Finally, Visionary Wealth Advisors acquired a new position in PAR Technology during the 2nd quarter worth $6,844,000.

About PAR Technology

PAR Technology Corporation (NYSE:PAR) provides technology solutions for the restaurant and hospitality industries. Its offerings include point-of-sale systems, restaurant management software, digital ordering, loyalty and customer-engagement tools, payment solutions, workforce management, and related hardware and support services.

The company’s portfolio includes Brink POS, a cloud-based restaurant point-of-sale platform, and Punchh, a customer loyalty and engagement platform. PAR also provides tools designed to help restaurant operators manage digital channels, payments, data, and guest relationships through integrated technology solutions.

Founded in 1968, PAR Technology has expanded from its origins in restaurant and hospitality technology through organic development and acquisitions, including Punchh and Stuzo.