PAR Technology (NYSE:PAR) Reaches New 12-Month High at $55.73

PAR Technology Co. (NYSE:PAR) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $55.73 and last traded at $55.08, with a volume of 38192 shares. The stock had previously closed at $54.12.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Jefferies Financial Group raised shares of PAR Technology from a “hold” rating to a “buy” rating and upped their target price for the company from $45.00 to $60.00 in a report on Monday, August 12th. The Goldman Sachs Group upped their price objective on PAR Technology from $45.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Benchmark reiterated a “buy” rating and set a $69.00 target price on shares of PAR Technology in a research report on Friday, August 9th. StockNews.com upgraded PAR Technology to a “sell” rating in a research report on Friday. Finally, Needham & Company LLC lifted their price objective on PAR Technology from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $58.00.

PAR Technology Stock Up 1.4 %

The company has a debt-to-equity ratio of 0.64, a current ratio of 3.12 and a quick ratio of 2.80. The company has a 50-day moving average price of $49.27 and a 200 day moving average price of $46.02. The firm has a market capitalization of $1.87 billion, a PE ratio of -21.35 and a beta of 2.18.

PAR Technology (NYSE:PAR) last posted its earnings results on Thursday, August 8th. The software maker reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.05). PAR Technology had a negative return on equity of 10.93% and a net margin of 0.44%. The firm had revenue of $78.20 million during the quarter, compared to analysts’ expectations of $115.14 million. During the same quarter in the prior year, the firm posted ($0.65) earnings per share. PAR Technology’s quarterly revenue was up 12.5% on a year-over-year basis. Analysts forecast that PAR Technology Co. will post -1.16 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PAR. Amalgamated Bank grew its position in PAR Technology by 25.5% in the 2nd quarter. Amalgamated Bank now owns 1,166 shares of the software maker’s stock valued at $55,000 after acquiring an additional 237 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of PAR Technology by 8.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,908 shares of the software maker’s stock valued at $257,000 after buying an additional 468 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in PAR Technology by 8.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 8,212 shares of the software maker’s stock worth $372,000 after acquiring an additional 610 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in PAR Technology during the 2nd quarter valued at about $32,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of PAR Technology by 14.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,655 shares of the software maker’s stock valued at $348,000 after purchasing an additional 954 shares in the last quarter.

PAR Technology Company Profile

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.