The Goldman Sachs Group Issues Positive Forecast for PAR Technology (NYSE:PAR) Stock Price

PAR Technology (NYSE:PAR) had its target price boosted by The Goldman Sachs Group from $59.00 to $71.00 in a report released on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the software maker’s stock.

Several other research firms have also commented on PAR. Jefferies Financial Group raised shares of PAR Technology from a “hold” rating to a “buy” rating and increased their target price for the company from $45.00 to $60.00 in a report on Monday, August 12th. Lake Street Capital raised their price objective on PAR Technology from $57.00 to $77.00 and gave the company a “buy” rating in a research note on Monday. Craig Hallum boosted their target price on PAR Technology from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Monday. StockNews.com upgraded PAR Technology to a “sell” rating in a report on Thursday, November 7th. Finally, Needham & Company LLC lifted their price target on PAR Technology from $66.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, PAR Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.38.

PAR Technology Stock Performance

PAR opened at $74.91 on Tuesday. The business’s fifty day simple moving average is $57.93 and its 200 day simple moving average is $51.48. PAR Technology has a 52 week low of $33.13 and a 52 week high of $75.57. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.13 and a quick ratio of 2.80.

PAR Technology (NYSE:PAR) last announced its quarterly earnings data 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. The company had revenue of $96.80 million for the quarter, compared to analysts’ expectations of $91.01 million. PAR Technology had a negative return on equity of 8.99% and a negative net margin of 0.66%. PAR Technology’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.35) EPS. On average, analysts predict that PAR Technology will post -1.67 EPS for the current fiscal year.

Hedge Funds Weigh In On PAR Technology

A number of hedge funds and other institutional 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 purchasing an additional 1,068,641 shares during the period. Vanguard Group Inc. increased its position in shares of PAR Technology by 2.4% during the first quarter. Vanguard Group Inc. now owns 2,159,383 shares of the software maker’s stock valued at $97,950,000 after buying an additional 50,793 shares during the period. Progeny 3 Inc. raised its stake in PAR Technology by 10.9% in the second quarter. Progeny 3 Inc. now owns 1,320,858 shares of the software maker’s stock worth $62,199,000 after buying an additional 129,810 shares in the last quarter. Royce & Associates LP raised its stake in PAR Technology by 2.6% in the third quarter. Royce & Associates LP now owns 1,184,279 shares of the software maker’s stock worth $61,677,000 after buying an additional 30,000 shares in the last quarter. Finally, Reinhart Partners LLC. lifted its holdings in PAR Technology by 6.4% in the third quarter. Reinhart Partners LLC. now owns 946,773 shares of the software maker’s stock worth $49,308,000 after buying an additional 57,049 shares during the period.

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.