PAR Technology (NYSE:PAR) Shares Gap Up – Here’s Why

PAR Technology Corporation (NYSE:PAR) gapped up prior to trading on Tuesday . The stock had previously closed at $37.86, but opened at $40.53. PAR Technology shares last traded at $40.40, with a volume of 193,517 shares.

Analyst Ratings Changes

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

PAR Technology Stock Performance

The business’s 50 day moving average is $35.95 and its two-hundred day moving average is $45.53. The company has a market cap of $1.55 billion, a PE ratio of -17.81 and a beta of 1.35. The company has a current ratio of 1.70, a quick ratio of 1.51 and a debt-to-equity ratio of 0.45.

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

Insider Activity at PAR Technology

In other PAR Technology news, CFO Bryan A. Menar sold 6,500 shares of PAR Technology stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $35.53, for a total value of $230,945.00. Following the sale, the chief financial officer owned 71,481 shares of the company’s stock, valued at $2,539,719.93. The trade was a 8.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Voss Capital, Lp bought 146,789 shares of the business’s stock in a transaction that occurred on Tuesday, December 30th. The stock was acquired at an average cost of $36.51 per share, with a total value of $5,359,266.39. Following the completion of the acquisition, the insider owned 3,564,652 shares of the company’s stock, valued at $130,145,444.52. This represents a 4.29% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 196,035 shares of company stock valued at $7,103,730 in the last 90 days. 3.70% of the stock is currently owned by company insiders.

Institutional Trading of PAR Technology

Institutional investors and hedge funds have recently made changes to their positions in the business. Huntington National Bank grew its stake in PAR Technology by 66.2% during the 2nd quarter. Huntington National Bank now owns 437 shares of the software maker’s stock worth $30,000 after purchasing an additional 174 shares in the last quarter. Advisors Asset Management Inc. raised its stake in PAR Technology by 68.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 563 shares of the software maker’s stock worth $39,000 after acquiring an additional 229 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in PAR Technology during the third quarter worth approximately $26,000. Aster Capital Management DIFC Ltd acquired a new position in shares of PAR Technology in the 3rd quarter valued at $28,000. Finally, Manning & Napier Advisors LLC acquired a new stake in PAR Technology during the 3rd quarter worth approximately $36,000.

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.