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

PAR Technology (NYSE:PAR) had its price objective raised by stock analysts at Stephens from $65.00 to $70.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the software maker’s stock. Stephens’ price objective points to a potential upside of 14.96% from the stock’s previous close.

Several other analysts have also recently commented on PAR. Benchmark reaffirmed a “buy” rating and issued a $69.00 target price on shares of PAR Technology in a research note on Friday, August 9th. StockNews.com upgraded PAR Technology to a “sell” rating in a research note on Wednesday, September 18th. The Goldman Sachs Group raised their price target on PAR Technology from $52.00 to $59.00 and gave the stock a “neutral” rating in a research note on Monday. Jefferies Financial Group raised shares of PAR Technology from a “hold” rating to a “buy” rating and upped their price objective for the company from $45.00 to $60.00 in a research note on Monday, August 12th. Finally, Needham & Company LLC raised their target price on shares of PAR Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.17.

PAR Technology Price Performance

NYSE:PAR traded down $0.08 during trading hours on Friday, reaching $60.89. 157,084 shares of the company traded hands, compared to its average volume of 334,446. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.12 and a quick ratio of 2.80. The firm’s 50-day moving average is $54.30 and its 200-day moving average is $48.78. The stock has a market cap of $2.07 billion, a P/E ratio of -23.68 and a beta of 2.16. PAR Technology has a 1-year low of $28.21 and a 1-year high of $62.29.

PAR Technology (NYSE:PAR) last posted its quarterly earnings data on Thursday, August 8th. The software maker reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.05). The company had revenue of $78.20 million for the quarter, compared to analysts’ expectations of $115.14 million. PAR Technology had a negative return on equity of 10.93% and a net margin of 0.44%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.65) EPS. Equities research analysts expect that PAR Technology will post -1.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Research Global Investors lifted its position in PAR Technology by 43.4% during the 1st quarter. Capital Research Global Investors now owns 3,530,843 shares of the software maker’s stock worth $155,670,000 after acquiring an additional 1,068,641 shares in the last quarter. Progeny 3 Inc. increased its stake in PAR Technology by 47.1% during the 1st 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 during the period. Wasatch Advisors LP acquired a new position in PAR Technology in the 1st quarter worth $10,194,000. Vanguard Group Inc. lifted its holdings in PAR Technology by 9.0% in the 4th quarter. Vanguard Group Inc. now owns 2,108,590 shares of the software maker’s stock worth $91,808,000 after buying an additional 173,575 shares in the last quarter. Finally, Hodges Capital Management Inc. acquired a new stake in shares of PAR Technology during the first quarter valued at about $4,354,000.

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.