PAR Technology (NYSE:PAR) Price Target Raised to $83.00

PAR Technology (NYSE:PAR) had its price objective upped by Stephens from $70.00 to $83.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the software maker’s stock.

Other equities analysts also recently issued research reports about the stock. Needham & Company LLC boosted their target price on shares of PAR Technology from $66.00 to $90.00 and gave the stock a “buy” rating in a report on Monday. The Goldman Sachs Group raised their price objective on PAR Technology from $52.00 to $59.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Benchmark reiterated a “buy” rating and issued a $69.00 target price on shares of PAR Technology in a research report on Friday, August 9th. StockNews.com upgraded PAR Technology to a “sell” rating in a report on Thursday, November 7th. Finally, Jefferies Financial Group raised PAR Technology from a “hold” rating to a “buy” rating and upped their price objective for the stock from $45.00 to $60.00 in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.38.

PAR Technology Stock Performance

Shares of NYSE:PAR opened at $73.00 on Monday. The firm’s 50 day simple moving average is $58.36 and its two-hundred day simple moving average is $51.64. The company has a quick ratio of 2.80, a current ratio of 2.13 and a debt-to-equity ratio of 0.67. PAR Technology has a 1-year low of $34.87 and a 1-year high of $76.10.

PAR Technology (NYSE:PAR) last announced its quarterly earnings data on Friday, November 8th. The software maker reported ($0.09) EPS 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 business 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 business earned ($0.35) earnings per share. The business’s revenue was down 9.6% on a year-over-year basis. On average, research analysts anticipate that PAR Technology will post -1.67 EPS for the current year.

Institutional Investors Weigh In On PAR Technology

Several institutional investors have recently made changes to their positions in PAR. Capital Research Global Investors grew its stake in shares of PAR Technology by 43.4% during the first quarter. Capital Research Global Investors now owns 3,530,843 shares of the software maker’s stock valued at $155,670,000 after buying an additional 1,068,641 shares during the last quarter. Vanguard Group Inc. grew its position in PAR Technology by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 2,159,383 shares of the software maker’s stock valued at $97,950,000 after acquiring an additional 50,793 shares during the last quarter. Progeny 3 Inc. increased 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 purchasing an additional 129,810 shares during the period. Royce & Associates LP lifted its position in shares of PAR Technology by 2.6% during the third quarter. Royce & Associates LP now owns 1,184,279 shares of the software maker’s stock worth $61,677,000 after purchasing an additional 30,000 shares during the last quarter. Finally, Reinhart Partners LLC. boosted its stake in shares of PAR Technology by 6.4% during the third quarter. Reinhart Partners LLC. now owns 946,773 shares of the software maker’s stock valued at $49,308,000 after purchasing 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.