PAR Technology (NYSE:PAR) Price Target Raised to $70.00 at Stephens

PAR Technology (NYSE:PAR) had its price target boosted by Stephens from $65.00 to $70.00 in a research report released on Friday, Benzinga reports. The firm currently has an overweight rating on the software maker’s stock.

PAR has been the subject of several other research reports. Benchmark reiterated a “buy” rating and issued a $69.00 price objective on shares of PAR Technology in a research note on Friday, August 9th. The Goldman Sachs Group upped their price objective on shares of PAR Technology from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Monday, October 14th. StockNews.com upgraded PAR Technology to a “sell” rating in a research note on Wednesday, September 18th. Needham & Company LLC upped their price target on PAR Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group upgraded PAR Technology from a “hold” rating to a “buy” rating and increased their price target for the stock 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 assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.17.

PAR Technology Stock Performance

Shares of PAR opened at $62.04 on Friday. The company has a current ratio of 3.12, a quick ratio of 2.80 and a debt-to-equity ratio of 0.64. The firm’s fifty day simple moving average is $54.71 and its two-hundred day simple moving average is $49.09. PAR Technology has a 12 month low of $28.21 and a 12 month high of $62.29. The stock has a market capitalization of $2.11 billion, a P/E ratio of -24.14 and a beta of 2.16.

PAR Technology (NYSE:PAR) last announced its earnings results on Thursday, August 8th. The software maker reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.05). The business had revenue of $78.20 million for the quarter, compared to the consensus estimate of $115.14 million. PAR Technology had a net margin of 0.44% and a negative return on equity of 10.93%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.65) EPS. As a group, analysts predict that PAR Technology will post -1.67 EPS for the current year.

Hedge Funds Weigh In On PAR Technology

Large investors have recently bought and sold shares of the stock. Capital Research Global Investors lifted its position in shares of PAR Technology by 43.4% during 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 in the last quarter. Vanguard Group Inc. lifted its position in shares of PAR Technology by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 2,159,383 shares of the software maker’s stock worth $97,950,000 after buying an additional 50,793 shares in the last quarter. Progeny 3 Inc. boosted its stake in shares of PAR Technology by 10.9% in the 2nd quarter. Progeny 3 Inc. now owns 1,320,858 shares of the software maker’s stock worth $62,199,000 after buying an additional 129,810 shares during the last quarter. Reinhart Partners LLC. grew its holdings 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 valued at $49,308,000 after acquiring an additional 57,049 shares in the last quarter. Finally, Bamco Inc. NY increased its position in shares of PAR Technology by 1.0% during the first quarter. Bamco Inc. NY now owns 901,872 shares of the software maker’s stock valued at $40,909,000 after acquiring an additional 8,789 shares during 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.