PAR Technology Sees Unusually Large Options Volume (NYSE:PAR)

PAR Technology Co. (NYSE:PAR) was the recipient of unusually large options trading on Monday. Stock investors bought 10,536 call options on the company. This represents an increase of 7,426% compared to the average daily volume of 140 call options.

Institutional Investors Weigh In On PAR Technology

Hedge funds have recently modified their holdings of the stock. Capital Research Global Investors raised its position in PAR Technology by 43.4% during the first quarter. Capital Research Global Investors now owns 3,530,843 shares of the software maker’s stock valued at $155,670,000 after buying an additional 1,068,641 shares during the period. Progeny 3 Inc. raised its position in PAR Technology by 47.1% during the first quarter. Progeny 3 Inc. now owns 1,191,048 shares of the software maker’s stock valued at $54,026,000 after buying an additional 381,232 shares during the period. TimesSquare Capital Management LLC acquired a new position in PAR Technology during the third quarter valued at $14,398,000. Magnolia Capital Advisors LLC acquired a new position in PAR Technology during the second quarter valued at $3,881,000. Finally, Renaissance Technologies LLC raised its position in PAR Technology by 252.0% during the second quarter. Renaissance Technologies LLC now owns 105,600 shares of the software maker’s stock valued at $4,973,000 after buying an additional 75,600 shares during the period.

Analysts Set New Price Targets

A number of brokerages have issued reports on PAR. The Goldman Sachs Group boosted their price target on PAR Technology from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. StockNews.com upgraded PAR Technology to a “sell” rating in a research report on Thursday, November 7th. Lake Street Capital boosted their price target on PAR Technology from $57.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday. Craig Hallum boosted their price target on PAR Technology from $65.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Needham & Company LLC boosted their price target on PAR Technology from $66.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $73.00.

PAR Technology Trading Up 1.2 %

Shares of NYSE PAR opened at $75.15 on Tuesday. PAR Technology has a 12 month low of $33.13 and a 12 month high of $75.38. The company has a market cap of $2.73 billion, a price-to-earnings ratio of -300.63 and a beta of 2.14. The company has a quick ratio of 2.80, a current ratio of 3.12 and a debt-to-equity ratio of 0.64. The business has a fifty day simple moving average of $57.04 and a 200-day simple moving average of $51.02.

PAR Technology (NYSE:PAR) last announced its earnings results on Friday, November 8th. The software maker reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.01. PAR Technology had a negative return on equity of 10.93% and a net margin of 0.44%. The business had revenue of $96.80 million during the quarter, compared to the consensus estimate of $91.01 million. During the same period in the prior year, the business posted ($0.35) earnings per share. PAR Technology’s revenue was down 9.6% compared to the same quarter last year. Sell-side analysts predict that PAR Technology will post -1.67 EPS for the current year.

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.