Key Points
- Director Narinder Singh purchased 11,518 PAR Technology shares at an average price of $17.36, investing nearly $200,000 and increasing his direct ownership by 42.65% to 38,527 shares.
- PAR Technology shares opened at $18.63, with a market capitalization of approximately $770 million and a 52-week trading range of $11.59 to $54.62.
- Analysts maintain a consensus “Moderate Buy” rating with a $24.61 target price, while major institutional investors including BlackRock and Reinhart Partners have recently built or expanded positions.
PAR Technology Corporation (NYSE:PAR - Get Free Report) Director Narinder Singh bought 11,518 shares of the company's stock in a transaction on Wednesday, August 12th. The stock was bought 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 directly owned 38,527 shares of the company's stock, valued at $668,828.72. This trade represents a 42.65% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.
PAR Technology Price Performance
NYSE PAR opened at $18.63 on Friday. The company has a 50-day moving average price of $16.44 and a two-hundred day moving average price of $16.68. PAR Technology Corporation has a 52 week low of $11.59 and a 52 week high of $54.62. The stock has a market cap of $770.41 million, a price-to-earnings ratio of -10.58 and a beta of 1.33. The company has a current ratio of 2.10, a quick ratio of 1.83 and a debt-to-equity ratio of 0.51.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of PAR Technology during the second quarter worth $70,563,000. Greenstone Partners & Co. LLC purchased a new position in PAR Technology in the fourth quarter valued at about $36,981,000. Bandera Partners LLC purchased a new position in PAR Technology in the first quarter valued at about $9,331,000. Renaissance Technologies LLC acquired a new position in PAR Technology in the 1st quarter worth about $5,508,000. Finally, Reinhart Partners LLC. increased its position in PAR Technology by 45.6% in the 4th quarter. Reinhart Partners LLC. now owns 1,309,860 shares of the software maker's stock worth $47,522,000 after purchasing an additional 410,183 shares during the last quarter.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the company. Jefferies Financial Group set a $18.00 price objective on PAR Technology in a report on Saturday, May 9th. Weiss Ratings reiterated a "sell (e+)" rating on shares of PAR Technology in a research report on Friday, July 10th. The Goldman Sachs Group boosted their price target on shares of PAR Technology from $18.00 to $20.50 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Royal Bank Of Canada set a $16.00 price objective on shares of PAR Technology in a research report on Tuesday, June 9th. Finally, BTIG Research lowered their price objective on shares of PAR Technology from $45.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, PAR Technology presently has an average rating of "Moderate Buy" and a consensus target price of $24.61.
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About PAR Technology
(
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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.
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