PAR Technology (NYSE:PAR) Given New $60.00 Price Target at BTIG Research

PAR Technology (NYSE:PAR) had its price objective reduced by equities research analysts at BTIG Research from $65.00 to $60.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. BTIG Research’s price target indicates a potential upside of 61.05% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. William Blair reaffirmed an “outperform” rating on shares of PAR Technology in a report on Tuesday, October 14th. Benchmark decreased their price objective on PAR Technology from $92.00 to $77.00 and set a “buy” rating for the company in a report on Tuesday, August 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of PAR Technology in a report on Friday, July 11th. Weiss Ratings reissued a “sell (d)” rating on shares of PAR Technology in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group reduced their target price on shares of PAR Technology from $50.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.86.

PAR Technology Price Performance

Shares of PAR Technology stock traded up $4.09 during trading hours on Friday, reaching $37.26. The stock had a trading volume of 496,034 shares, compared to its average volume of 593,339. The stock’s 50 day moving average is $39.99 and its 200 day moving average is $54.91. The company has a current ratio of 1.70, a quick ratio of 1.49 and a debt-to-equity ratio of 0.43. PAR Technology has a twelve month low of $32.56 and a twelve month high of $82.24. The firm has a market capitalization of $1.51 billion, a PE ratio of -16.60 and a beta of 1.63.

PAR Technology (NYSE:PAR) last posted its quarterly earnings data on Thursday, November 6th. The software maker reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The business had revenue of $119.18 million during the quarter, compared to analysts’ expectations of $112.23 million. PAR Technology had a negative net margin of 20.64% and a negative return on equity of 3.16%. The firm’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.09) earnings per share. Equities analysts expect that PAR Technology will post -1.47 earnings per share for the current fiscal year.

Institutional Trading of PAR Technology

Several large investors have recently modified their holdings of PAR. Huntington National Bank increased its stake in shares of PAR Technology by 66.2% during the 2nd quarter. Huntington National Bank now owns 437 shares of the software maker’s stock worth $30,000 after purchasing an additional 174 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in PAR Technology by 8,616.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the software maker’s stock valued at $32,000 after buying an additional 517 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in PAR Technology during the third quarter worth $36,000. Advisors Asset Management Inc. raised its holdings in shares of PAR Technology by 68.6% in the second quarter. Advisors Asset Management Inc. now owns 563 shares of the software maker’s stock worth $39,000 after acquiring an additional 229 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of PAR Technology by 232.4% in the first quarter. GAMMA Investing LLC now owns 698 shares of the software maker’s stock valued at $43,000 after acquiring an additional 488 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.