PAR Technology (NYSE:PAR) Coverage Initiated by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of PAR Technology (NYSE:PAR) in a report released on Friday morning, Marketbeat Ratings reports. The firm issued an underweight rating and a $12.00 price objective on the software maker’s stock.

Several other equities analysts also recently commented on the company. Stephens lowered their price objective on PAR Technology from $60.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. BTIG Research lowered their price objective on PAR Technology from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Needham & Company LLC reduced their target price on PAR Technology from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Benchmark reduced their target price on PAR Technology from $42.00 to $33.00 and set a “buy” rating on the stock in a report on Monday, March 16th. Finally, William Blair reaffirmed an “outperform” rating on shares of PAR Technology in a report on Friday, March 13th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $28.00.

PAR Technology Price Performance

Shares of PAR Technology stock opened at $15.47 on Friday. The stock’s 50-day simple moving average is $13.95 and its 200-day simple moving average is $24.26. PAR Technology has a 52 week low of $11.59 and a 52 week high of $72.15. The company has a market capitalization of $638.01 million, a price-to-earnings ratio of -8.27 and a beta of 1.32. The company has a quick ratio of 1.83, a current ratio of 2.10 and a debt-to-equity ratio of 0.51.

PAR Technology (NYSE:PAR) last announced its quarterly earnings data on Thursday, May 7th. The software maker reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. PAR Technology had a negative return on equity of 2.57% and a negative net margin of 16.04%.The business had revenue of $123.97 million for the quarter, compared to the consensus estimate of $116.88 million. During the same period in the previous year, the business earned ($0.01) earnings per share. The business’s revenue was up 19.4% on a year-over-year basis. As a group, analysts expect that PAR Technology will post -0.3 earnings per share for the current fiscal year.

Insider Activity at PAR Technology

In other PAR Technology news, insider Cathy A. King sold 1,517 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $18.27, for a total transaction of $27,715.59. Following the completion of the transaction, the insider owned 56,626 shares in the company, valued at $1,034,557.02. The trade was a 2.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Bryan A. Menar sold 1,636 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $18.27, for a total value of $29,889.72. Following the transaction, the chief financial officer owned 63,257 shares of the company’s stock, valued at $1,155,705.39. This trade represents a 2.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 90,689 shares of company stock valued at $1,600,226 over the last ninety days. 2.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PAR. Greenstone Partners & Co. LLC purchased a new position in shares of PAR Technology during the fourth quarter valued at approximately $36,981,000. Long Focus Capital Management LLC boosted its position in shares of PAR Technology by 4,210.9% during the third quarter. Long Focus Capital Management LLC now owns 877,575 shares of the software maker’s stock valued at $34,734,000 after buying an additional 857,218 shares during the period. SG Americas Securities LLC purchased a new position in shares of PAR Technology during the fourth quarter valued at approximately $27,274,000. Bandera Partners LLC purchased a new position in shares of PAR Technology during the first quarter valued at approximately $9,331,000. Finally, Capital Research Global Investors boosted its position in shares of PAR Technology by 17.3% during the third quarter. Capital Research Global Investors now owns 3,237,004 shares of the software maker’s stock valued at $128,121,000 after buying an additional 476,839 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.