PAR Technology (NYSE:PAR) Hits New 12-Month High at $57.45

PAR Technology Co. (NYSE:PAR) reached a new 52-week high during trading on Wednesday . The company traded as high as $57.45 and last traded at $57.14, with a volume of 21350 shares trading hands. The stock had previously closed at $57.01.

Analysts Set New Price Targets

A number of research firms recently issued reports on PAR. Stephens raised PAR Technology from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $46.00 to $60.00 in a report on Thursday, June 13th. Benchmark reissued a “buy” rating and issued a $69.00 target price on shares of PAR Technology in a report on Friday, August 9th. StockNews.com raised PAR Technology to a “sell” rating in a report on Friday, August 23rd. The Goldman Sachs Group boosted their price objective on shares of PAR Technology from $45.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, Needham & Company LLC upped their price objective on shares of PAR Technology from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $58.00.

PAR Technology Stock Down 0.4 %

The firm’s 50-day simple moving average is $52.20 and its 200 day simple moving average is $46.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.80 and a current ratio of 3.12. The company has a market capitalization of $2.06 billion, a PE ratio of -22.18 and a beta of 2.17.

PAR Technology (NYSE:PAR) last issued its earnings results on Thursday, August 8th. The software maker reported ($0.23) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $78.20 million for the quarter, compared to analyst estimates of $115.14 million. During the same quarter in the previous year, the company posted ($0.65) earnings per share. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. As a group, equities research analysts forecast that PAR Technology Co. will post -1.67 earnings per share for the current year.

Hedge Funds Weigh In On PAR Technology

Several hedge funds have recently bought and sold shares of PAR. Capital Research Global Investors grew its position in shares of PAR Technology by 43.4% in 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 purchasing an additional 1,068,641 shares during the last quarter. Progeny 3 Inc. increased 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 worth $54,026,000 after buying an additional 381,232 shares in the last quarter. Wasatch Advisors LP acquired a new position in shares of PAR Technology in the first quarter worth $10,194,000. Vanguard Group Inc. lifted its position in shares of PAR Technology by 9.0% in the fourth quarter. Vanguard Group Inc. now owns 2,108,590 shares of the software maker’s stock valued at $91,808,000 after acquiring an additional 173,575 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC boosted its stake in shares of PAR Technology by 94.1% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 315,607 shares of the software maker’s stock valued at $13,742,000 after acquiring an additional 152,972 shares during the last quarter.

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.