StockNews.com Upgrades PAR Technology (NYSE:PAR) to “Sell”

PAR Technology (NYSE:PAR) was upgraded by stock analysts at StockNews.com to a “sell” rating in a report issued on Thursday.

Several other brokerages also recently issued reports on PAR. Craig Hallum boosted their price target 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 upped their target price on shares of PAR Technology from $57.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Stephens raised their price target on shares of PAR Technology from $83.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price objective on shares of PAR Technology in a research report on Friday, January 3rd. Finally, The Goldman Sachs Group raised their target price on PAR Technology from $71.00 to $79.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.25.

PAR Technology Price Performance

Shares of NYSE:PAR opened at $71.65 on Thursday. The company has a market cap of $2.77 billion, a PE ratio of -286.57 and a beta of 2.21. PAR Technology has a fifty-two week low of $37.74 and a fifty-two week high of $82.24. The firm has a 50-day simple moving average of $74.89 and a 200 day simple moving average of $62.31. The company has a quick ratio of 1.91, a current ratio of 2.13 and a debt-to-equity ratio of 0.67.

PAR Technology (NYSE:PAR) last issued its earnings results on Friday, November 8th. The software maker reported ($0.09) EPS for the quarter, beating 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 return on equity of 8.99% and a negative net margin of 0.66%. PAR Technology’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.35) earnings per share. On average, sell-side analysts anticipate that PAR Technology will post -1.47 EPS for the current year.

Hedge Funds Weigh In On PAR Technology

Several hedge funds have recently made changes to their positions in the business. TimesSquare Capital Management LLC purchased a new position in PAR Technology in the 3rd quarter worth about $14,398,000. Bamco Inc. NY increased its holdings in PAR Technology by 15.2% in the third quarter. Bamco Inc. NY now owns 1,170,908 shares of the software maker’s stock worth $60,981,000 after buying an additional 154,921 shares during the last quarter. Progeny 3 Inc. raised its position in PAR Technology by 10.9% during the second 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. Fred Alger Management LLC acquired a new stake in PAR Technology in the third quarter valued at approximately $6,600,000. Finally, Magnolia Capital Advisors LLC bought a new stake in PAR Technology in the second quarter worth approximately $3,881,000.

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.