PAR Technology (NYSE:PAR) Reaches New 12-Month High After Analyst Upgrade

PAR Technology Co. (NYSE:PAR)’s share price hit a new 52-week high during trading 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 traded. The stock had previously closed at $78.33.

Several other research analysts have also weighed in on the company. Jefferies Financial Group upgraded PAR Technology from a “hold” rating to a “buy” rating and increased their price objective for the stock from $45.00 to $60.00 in a research report on Monday, August 12th. Lake Street Capital upped their target price on shares of PAR Technology from $57.00 to $77.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of PAR Technology in a research note on Tuesday. The Goldman Sachs Group boosted their price target on shares of PAR Technology from $59.00 to $71.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Finally, Benchmark lifted their price objective on PAR Technology from $69.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $78.25.

Institutional Investors Weigh In On PAR Technology

Large investors have recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in shares of PAR Technology by 5.1% in the third quarter. Victory Capital Management Inc. now owns 4,524 shares of the software maker’s stock valued at $236,000 after buying an additional 219 shares during the last quarter. Amalgamated Bank lifted its position in PAR Technology by 25.5% during the 2nd quarter. Amalgamated Bank now owns 1,166 shares of the software maker’s stock worth $55,000 after acquiring an additional 237 shares during the period. Inspire Investing LLC grew its stake in shares of PAR Technology by 6.1% in the 3rd quarter. Inspire Investing LLC now owns 7,935 shares of the software maker’s stock valued at $413,000 after purchasing an additional 454 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of PAR Technology in the second quarter valued at approximately $32,000. Finally, RiverPark Advisors LLC raised its stake in shares of PAR Technology by 21.3% during the third quarter. RiverPark Advisors LLC now owns 4,929 shares of the software maker’s stock worth $257,000 after purchasing an additional 865 shares during the last quarter.

PAR Technology Trading Up 4.1 %

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 market capitalization of $2.91 billion, a price-to-earnings ratio of -307.67 and a beta of 2.14. The company has a fifty day moving average of $62.12 and a two-hundred day moving average of $53.72.

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