PAR Technology (NYSE:PAR) Sets New 12-Month High Following Analyst Upgrade

PAR Technology Co. (NYSE:PAR)’s share price reached a new 52-week high on Tuesday after Stephens raised their price target on the stock from $83.00 to $90.00. Stephens currently has an overweight rating on the stock. PAR Technology traded as high as $79.25 and last traded at $78.79, with a volume of 13135 shares. The stock had previously closed at $78.33.

PAR has been the topic of several other research reports. StockNews.com upgraded PAR Technology to a “sell” rating in a research note on Thursday, November 7th. Benchmark raised their price target on PAR Technology from $69.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Craig Hallum upped their price objective on shares of PAR Technology from $65.00 to $85.00 and gave the company a “buy” rating in a report on Monday, November 11th. Lake Street Capital raised their target price on shares of PAR Technology from $57.00 to $77.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Jefferies Financial Group raised shares of PAR Technology from a “hold” rating to a “buy” rating and increased their price target for the company from $45.00 to $60.00 in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, PAR Technology presently has an average rating of “Moderate Buy” and an average target price of $78.25.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PAR. Vanguard Group Inc. raised its position in shares of PAR Technology by 2.4% in the first quarter. Vanguard Group Inc. now owns 2,159,383 shares of the software maker’s stock valued at $97,950,000 after buying an additional 50,793 shares in the last quarter. Progeny 3 Inc. raised its holdings in PAR Technology by 10.9% in the 2nd quarter. Progeny 3 Inc. now owns 1,320,858 shares of the software maker’s stock valued at $62,199,000 after acquiring an additional 129,810 shares in the last quarter. Royce & Associates LP lifted its position in shares of PAR Technology by 2.6% during the 3rd 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 period. Bamco Inc. NY grew its holdings in shares of PAR Technology by 15.2% during the 3rd quarter. Bamco Inc. NY now owns 1,170,908 shares of the software maker’s stock worth $60,981,000 after purchasing an additional 154,921 shares in the last quarter. Finally, Reinhart Partners LLC. increased its position in shares of PAR Technology by 6.4% in the third quarter. Reinhart Partners LLC. now owns 946,773 shares of the software maker’s stock worth $49,308,000 after purchasing an additional 57,049 shares during the period.

PAR Technology Stock Performance

The firm has a market cap of $2.91 billion, a price-to-earnings ratio of -307.67 and a beta of 2.14. The company has a quick ratio of 1.91, a current ratio of 2.13 and a debt-to-equity ratio of 0.67. The stock has a 50 day moving average of $62.12 and a 200 day moving average of $53.72.

PAR Technology (NYSE:PAR) last issued its quarterly earnings results on Friday, November 8th. The software maker reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. The company had revenue of $96.80 million during the quarter, compared to the consensus estimate of $91.01 million. PAR Technology had a negative net margin of 0.66% and a negative return on equity of 8.99%. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.35) EPS. As a group, analysts anticipate that PAR Technology Co. will post -1.56 EPS for the current fiscal year.

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.