PAR Technology (NYSE:PAR) Shares Gap Up to $42.72

PAR Technology Co. (NYSE:PAR) gapped up before the market opened on Wednesday . The stock had previously closed at $42.72, but opened at $43.80. PAR Technology shares last traded at $43.86, with a volume of 33,729 shares trading hands.

Analyst Ratings Changes

PAR has been the topic of several recent analyst reports. Sidoti raised PAR Technology from a “neutral” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Tuesday, March 12th. TheStreet raised shares of PAR Technology from a “d+” rating to a “c-” rating in a research report on Thursday, February 15th. StockNews.com raised shares of PAR Technology to a “sell” rating in a report on Thursday, March 7th. Needham & Company LLC reiterated a “buy” rating and set a $53.00 price target (up previously from $47.00) on shares of PAR Technology in a report on Tuesday, February 27th. Finally, William Blair reaffirmed an “outperform” rating on shares of PAR Technology in a research report on Tuesday, March 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, PAR Technology currently has an average rating of “Hold” and a consensus target price of $48.57.

PAR Technology Trading Up 5.7 %

The firm has a 50-day moving average of $44.89 and a two-hundred day moving average of $40.79. The firm has a market capitalization of $1.27 billion, a P/E ratio of -17.89 and a beta of 1.98. The company has a current ratio of 2.25, a quick ratio of 1.96 and a debt-to-equity ratio of 1.13.

PAR Technology (NYSE:PAR) last posted its earnings results on Tuesday, February 27th. The software maker reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.05). The company had revenue of $107.71 million during the quarter, compared to the consensus estimate of $106.12 million. PAR Technology had a negative return on equity of 16.46% and a negative net margin of 16.77%. On average, analysts anticipate that PAR Technology Co. will post -1.15 EPS for the current year.

Insiders Place Their Bets

In related news, Director Douglas Gregory Rauch sold 4,500 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $42.04, for a total transaction of $189,180.00. Following the sale, the director now owns 14,365 shares of the company’s stock, valued at approximately $603,904.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.67% of the company’s stock.

Hedge Funds Weigh In On PAR Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in PAR. JPMorgan Chase & Co. lifted its holdings in PAR Technology by 11.2% during the 1st quarter. JPMorgan Chase & Co. now owns 35,339 shares of the software maker’s stock worth $1,426,000 after buying an additional 3,556 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of PAR Technology by 4.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 30,190 shares of the software maker’s stock worth $1,218,000 after acquiring an additional 1,190 shares during the period. MetLife Investment Management LLC boosted its holdings in PAR Technology by 58.5% in the first quarter. MetLife Investment Management LLC now owns 13,416 shares of the software maker’s stock valued at $541,000 after acquiring an additional 4,951 shares during the last quarter. Rhumbline Advisers raised its holdings in PAR Technology by 7.6% during the 1st quarter. Rhumbline Advisers now owns 25,784 shares of the software maker’s stock worth $1,040,000 after purchasing an additional 1,828 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in PAR Technology by 6.2% during the first quarter. Vanguard Group Inc. now owns 1,474,270 shares of the software maker’s stock worth $59,471,000 after buying an additional 85,559 shares during the last quarter.

About PAR Technology

PAR Technology Corporation, together with its subsidiaries, provides omnichannel cloud-based hardware and software solutions to the restaurant and retail industries worldwide. The Restaurant/Retail segment offers PUNCHH, an enterprise-grade customer loyalty and engagement solution; MENU, an eCommerce platform for restaurant brands; BRINK POS, an open cloud, point-of-sale solution; PAR PAYMENT SERVICES, a merchant services business that enables electronic payment and processing services for businesses; and DATA CENTRAL, a back-office solution that leverages business intelligence and automation technologies.