The Goldman Sachs Group Cuts PAR Technology (NYSE:PAR) Price Target to $38.00

PAR Technology (NYSE:PAR) had its price objective cut by The Goldman Sachs Group from $50.00 to $38.00 in a report published on Monday morning,Benzinga reports. They currently have a neutral rating on the software maker’s stock.

A number of other brokerages have also recently commented on PAR. Benchmark reduced their target price on PAR Technology from $92.00 to $77.00 and set a “buy” rating for the company in a report on Tuesday, August 19th. BTIG Research upgraded PAR Technology from a “neutral” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Friday, August 15th. Weiss Ratings restated a “sell (d)” rating on shares of PAR Technology in a research report on Wednesday, October 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of PAR Technology in a research report on Friday, July 11th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.57.

PAR Technology Stock Down 2.9%

Shares of PAR opened at $35.74 on Monday. PAR Technology has a 52 week low of $35.02 and a 52 week high of $82.24. The company has a quick ratio of 1.49, a current ratio of 1.70 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -15.88 and a beta of 1.65. The stock’s 50-day moving average price is $45.21 and its 200-day moving average price is $57.21.

PAR Technology (NYSE:PAR) last released its quarterly earnings results on Friday, August 8th. The software maker reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $112.40 million during the quarter, compared to analyst estimates of $111.02 million. PAR Technology had a negative return on equity of 3.16% and a negative net margin of 20.64%.The business’s revenue for the quarter was up 43.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.23) EPS. On average, sell-side analysts predict that PAR Technology will post -1.47 EPS for the current year.

Institutional Trading of PAR Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of PAR. Nuveen LLC acquired a new stake in PAR Technology in the first quarter valued at $24,500,000. GW&K Investment Management LLC acquired a new stake in PAR Technology in the first quarter valued at $24,018,000. Invesco Ltd. grew its holdings in shares of PAR Technology by 24.1% during the second quarter. Invesco Ltd. now owns 1,877,239 shares of the software maker’s stock worth $130,224,000 after purchasing an additional 364,892 shares during the last quarter. Voss Capital LP grew its holdings in shares of PAR Technology by 16.9% during the first quarter. Voss Capital LP now owns 1,706,362 shares of the software maker’s stock worth $104,668,000 after purchasing an additional 246,362 shares during the last quarter. Finally, AXA S.A. grew its holdings in shares of PAR Technology by 360.1% during the second quarter. AXA S.A. now owns 298,985 shares of the software maker’s stock worth $20,741,000 after purchasing an additional 234,009 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.