Benchmark Cuts PAR Technology (NYSE:PAR) Price Target to $33.00

PAR Technology (NYSE:PAR) had its target price decreased by analysts at Benchmark from $42.00 to $33.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Benchmark’s price target points to a potential upside of 115.97% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the stock. William Blair reaffirmed an “outperform” rating on shares of PAR Technology in a report on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of PAR Technology in a research report on Monday, December 29th. Stephens dropped their price objective on PAR Technology from $60.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. The Goldman Sachs Group cut their price objective on PAR Technology from $40.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. Finally, Needham & Company LLC reduced their target price 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. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.20.

PAR Technology Stock Up 3.5%

Shares of NYSE:PAR traded up $0.51 during midday trading on Monday, hitting $15.28. The stock had a trading volume of 186,124 shares, compared to its average volume of 1,671,941. The company has a market cap of $628.77 million, a P/E ratio of -7.35 and a beta of 1.36. PAR Technology has a 12 month low of $12.48 and a 12 month high of $72.15. The business’s 50-day simple moving average is $25.76 and its 200-day simple moving average is $33.93. The company has a quick ratio of 1.46, a current ratio of 1.66 and a debt-to-equity ratio of 0.45.

PAR Technology (NYSE:PAR) last posted its quarterly earnings results 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. The firm had revenue of $120.10 million for the quarter, compared to analyst estimates of $116.39 million. PAR Technology had a negative net margin of 18.54% and a negative return on equity of 2.32%. PAR Technology’s revenue for the quarter was up 14.4% compared to the same quarter last year. On average, sell-side analysts forecast that PAR Technology will post -1.47 earnings per share for the current fiscal year.

Insider Activity

In other PAR Technology news, CEO Savneet Singh sold 57,605 shares of the firm’s stock in a transaction that occurred on 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 directly owned 252,537 shares in the company, valued at $4,416,872.13. This trade represents a 18.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Voss Capital, Lp acquired 182,862 shares of PAR Technology stock in a transaction dated Tuesday, February 3rd. The shares were purchased at an average price of $22.89 per share, with a total value of $4,185,711.18. Following the acquisition, the insider owned 4,075,000 shares of the company’s stock, valued at approximately $93,276,750. This trade represents a 4.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 722,237 shares of company stock worth $21,772,998 and sold 90,689 shares worth $1,600,226. 3.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its holdings 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 buying an additional 229 shares in the last quarter. ProShare Advisors LLC boosted its holdings in PAR Technology by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 7,330 shares of the software maker’s stock valued at $266,000 after purchasing an additional 471 shares during the period. SkyView Investment Advisors LLC boosted its holdings in PAR Technology by 3.3% in 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 during the period. Ameritas Investment Partners Inc. grew its position in shares of PAR Technology by 16.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,095 shares of the software maker’s stock worth $284,000 after purchasing an additional 577 shares in the last quarter. Finally, &PARTNERS increased its holdings in shares of PAR Technology by 10.6% during the fourth quarter. &PARTNERS now owns 6,444 shares of the software maker’s stock worth $234,000 after purchasing an additional 620 shares during the period.

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.