PAR Technology (NYSE:PAR) Price Target Raised to $79.00

PAR Technology (NYSE:PAR) had its price objective raised by equities researchers at The Goldman Sachs Group from $71.00 to $79.00 in a report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the software maker’s stock. The Goldman Sachs Group’s price target suggests a potential downside of 0.52% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Craig Hallum lifted 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. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of PAR Technology in a report on Tuesday, November 26th. Jefferies Financial Group upgraded shares of PAR Technology from a “hold” rating to a “buy” rating and boosted their target price for the company from $45.00 to $60.00 in a report on Monday, August 12th. Benchmark boosted their target price on shares of PAR Technology from $69.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Stephens boosted their target price on shares of PAR Technology from $83.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $79.25.

PAR Technology Price Performance

Shares of PAR stock traded down $1.73 during trading hours on Monday, hitting $79.41. 89,024 shares of the company’s stock were exchanged, compared to its average volume of 360,701. The company has a market capitalization of $2.88 billion, a PE ratio of -317.63 and a beta of 2.14. PAR Technology has a 12-month low of $37.74 and a 12-month high of $82.24. The business’s 50 day simple moving average is $63.55 and its 200-day simple moving average is $54.51. The company has a current ratio of 2.13, a quick ratio of 1.91 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, topping the consensus estimate of ($0.10) by $0.01. PAR Technology had a negative net margin of 0.66% and a negative return on equity of 8.99%. The company had revenue of $96.80 million for the quarter, compared to the consensus estimate of $91.01 million. During the same period in the previous year, the firm earned ($0.35) earnings per share. The firm’s revenue for the quarter was down 9.6% on a year-over-year basis. On average, equities research analysts anticipate that PAR Technology will post -1.56 earnings per share for the current year.

Hedge Funds Weigh In On PAR Technology

A number of hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. raised its position in PAR Technology by 5.1% in the 3rd quarter. Victory Capital Management Inc. now owns 4,524 shares of the software maker’s stock worth $236,000 after buying an additional 219 shares during the last quarter. Amalgamated Bank raised its position in PAR Technology by 25.5% in the 2nd quarter. Amalgamated Bank now owns 1,166 shares of the software maker’s stock worth $55,000 after buying an additional 237 shares during the last quarter. Inspire Investing LLC raised its position in PAR Technology by 6.1% in the 3rd quarter. Inspire Investing LLC now owns 7,935 shares of the software maker’s stock worth $413,000 after buying an additional 454 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in PAR Technology in the 2nd quarter worth about $32,000. Finally, RiverPark Advisors LLC increased its position in shares of PAR Technology by 21.3% during the 3rd quarter. RiverPark Advisors LLC now owns 4,929 shares of the software maker’s stock valued at $257,000 after purchasing an additional 865 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.