The Goldman Sachs Group Raises PAR Technology (NYSE:PAR) Price Target to $71.00

PAR Technology (NYSE:PAR) had its target price raised by research analysts at The Goldman Sachs Group from $59.00 to $71.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the software maker’s stock. The Goldman Sachs Group’s price target would indicate a potential downside of 4.40% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Stephens increased their price target on shares of PAR Technology from $70.00 to $83.00 and gave the company an “overweight” rating in a research report on Monday. Needham & Company LLC upped their price target on PAR Technology from $66.00 to $90.00 and gave the company a “buy” rating in a research report on Monday. StockNews.com upgraded PAR Technology to a “sell” rating in a research report on Thursday, November 7th. Jefferies Financial Group raised PAR Technology from a “hold” rating to a “buy” rating and raised their price target for the stock from $45.00 to $60.00 in a research note on Monday, August 12th. Finally, Craig Hallum upped their price objective on shares of PAR Technology from $65.00 to $85.00 and gave the stock a “buy” rating in a report on Monday. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, PAR Technology presently has an average rating of “Moderate Buy” and an average price target of $77.38.

PAR Technology Price Performance

Shares of NYSE:PAR opened at $74.27 on Tuesday. The company’s fifty day moving average is $58.36 and its 200 day moving average is $51.64. The company has a quick ratio of 2.80, a current ratio of 2.13 and a debt-to-equity ratio of 0.67. PAR Technology has a 52 week low of $34.63 and a 52 week high of $76.10. The stock has a market cap of $2.70 billion, a PE ratio of -297.07 and a beta of 2.14.

PAR Technology (NYSE:PAR) last released its earnings results on Friday, November 8th. The software maker reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. PAR Technology had a negative return on equity of 8.99% and a negative net margin of 0.66%. The company had revenue of $96.80 million during the quarter, compared to analyst estimates of $91.01 million. During the same quarter in the previous year, the company posted ($0.35) EPS. PAR Technology’s revenue for the quarter was down 9.6% on a year-over-year basis. Research analysts anticipate that PAR Technology will post -1.67 earnings per share for the current year.

Hedge Funds Weigh In On PAR Technology

Large investors have recently made changes to their positions in the business. Capital Research Global Investors increased 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 valued at $155,670,000 after buying an additional 1,068,641 shares in the last quarter. Progeny 3 Inc. raised its position in shares of PAR Technology by 47.1% in the 1st quarter. Progeny 3 Inc. now owns 1,191,048 shares of the software maker’s stock worth $54,026,000 after purchasing an additional 381,232 shares during the last quarter. TimesSquare Capital Management LLC bought a new position in PAR Technology in the 3rd quarter worth about $14,398,000. Magnolia Capital Advisors LLC purchased a new stake in PAR Technology during the 2nd quarter valued at about $3,881,000. Finally, Renaissance Technologies LLC increased its stake in PAR Technology by 252.0% during the 2nd quarter. Renaissance Technologies LLC now owns 105,600 shares of the software maker’s stock valued at $4,973,000 after purchasing an additional 75,600 shares in 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.