Stock Traders Purchase Large Volume of Call Options on PAR Technology (NYSE:PAR)

PAR Technology Co. (NYSE:PAR) was the target of unusually large options trading activity on Monday. Stock traders acquired 10,536 call options on the stock. This represents an increase of 7,426% compared to the typical daily volume of 140 call options.

PAR Technology Price Performance

NYSE PAR opened at $74.91 on Wednesday. The company has a market cap of $2.72 billion, a PE ratio of -299.64 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 firm’s 50-day simple moving average is $57.93 and its two-hundred day simple moving average is $51.48. PAR Technology has a 52 week low of $33.13 and a 52 week high of $75.57.

PAR Technology (NYSE:PAR) last released its quarterly earnings data on Friday, November 8th. The software maker reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.01. PAR Technology had a net margin of 0.44% and a negative return on equity of 10.93%. The company had revenue of $96.80 million during the quarter, compared to the consensus estimate of $91.01 million. During the same period last year, the firm earned ($0.35) EPS. PAR Technology’s revenue for the quarter was down 9.6% on a year-over-year basis. Research analysts predict that PAR Technology will post -1.67 earnings per share for the current year.

Analyst Ratings Changes

PAR has been the subject of a number of research analyst reports. Benchmark increased their price target on PAR Technology from $69.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday. Needham & Company LLC lifted their target price on PAR Technology from $66.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday. StockNews.com upgraded shares of PAR Technology to a “sell” rating in a research report on Thursday, November 7th. Stephens raised their price objective on shares of PAR Technology from $70.00 to $83.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Craig Hallum boosted their target price on shares of PAR Technology from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.38.

Institutional Trading of PAR Technology

Several institutional investors and hedge funds have recently bought and sold shares of PAR. Charles Schwab Investment Management Inc. grew its stake in PAR Technology by 7.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 298,067 shares of the software maker’s stock worth $15,523,000 after buying an additional 20,811 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of PAR Technology during the 3rd quarter worth $598,000. RiverPark Advisors LLC grew its position in PAR Technology by 21.3% in the third quarter. RiverPark Advisors LLC now owns 4,929 shares of the software maker’s stock worth $257,000 after acquiring an additional 865 shares in the last quarter. Royce & Associates LP increased its stake in PAR Technology by 2.6% in the third quarter. Royce & Associates LP now owns 1,184,279 shares of the software maker’s stock valued at $61,677,000 after acquiring an additional 30,000 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in PAR Technology during the third quarter valued at about $308,000.

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.