PAR Technology (NYSE:PAR) Hits New 52-Week High – Here’s What Happened

Shares of PAR Technology Co. (NYSE:PAR) reached a new 52-week high during trading on Tuesday . The company traded as high as $79.25 and last traded at $78.79, with a volume of 13135 shares. The stock had previously closed at $78.33.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PAR. Lake Street Capital increased their price objective on shares of PAR Technology from $57.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Jefferies Financial Group upgraded PAR Technology from a “hold” rating to a “buy” rating and increased their price target for the stock from $45.00 to $60.00 in a report on Monday, August 12th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of PAR Technology in a research note on Tuesday. Craig Hallum upped their price objective on PAR Technology from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Benchmark lifted their target price on PAR Technology from $69.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. One 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. According to MarketBeat.com, PAR Technology presently has an average rating of “Moderate Buy” and a consensus price target of $77.38.

PAR Technology Trading Down 1.2 %

The company has a current ratio of 2.13, a quick ratio of 1.91 and a debt-to-equity ratio of 0.67. The stock has a 50-day simple moving average of $61.72 and a two-hundred day simple moving average of $53.47. The firm has a market capitalization of $2.81 billion, a P/E ratio of -313.32 and a beta of 2.14.

PAR Technology (NYSE:PAR) last released its quarterly earnings data on Friday, November 8th. The software maker reported ($0.09) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $96.80 million during the quarter, compared to the consensus estimate of $91.01 million. During the same period in the previous year, the company posted ($0.35) earnings per share. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. On average, equities research analysts anticipate that PAR Technology Co. will post -1.56 earnings per share for the current year.

Institutional Trading of PAR Technology

A number of hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC bought a new position in shares of PAR Technology in the 3rd quarter worth $655,000. Geode Capital Management LLC grew its stake in PAR Technology by 11.1% in the third quarter. Geode Capital Management LLC now owns 819,035 shares of the software maker’s stock valued at $42,664,000 after purchasing an additional 81,551 shares during the last quarter. ABS Direct Equity Fund LLC raised its holdings in PAR Technology by 7.3% in the third quarter. ABS Direct Equity Fund LLC now owns 73,580 shares of the software maker’s stock worth $3,832,000 after purchasing an additional 5,000 shares in the last quarter. Barclays PLC lifted its position in shares of PAR Technology by 431.3% during the third quarter. Barclays PLC now owns 63,536 shares of the software maker’s stock valued at $3,310,000 after buying an additional 51,578 shares during the last quarter. Finally, Castleark Management LLC boosted its holdings in shares of PAR Technology by 196.0% in the 3rd quarter. Castleark Management LLC now owns 116,370 shares of the software maker’s stock valued at $6,061,000 after buying an additional 77,050 shares in 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.