PAR Technology (NYSE:PAR) Price Target Raised to $71.00 at The Goldman Sachs Group

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

A number of other analysts have also weighed in on the stock. Lake Street Capital lifted their target price on shares of PAR Technology from $57.00 to $77.00 and gave the stock a “buy” rating in a report on Monday. Stephens boosted their price objective on shares of PAR Technology from $70.00 to $83.00 and gave the stock an “overweight” rating in a report on Monday. StockNews.com upgraded PAR Technology to a “sell” rating in a research note on Thursday, November 7th. Craig Hallum boosted their price target on PAR Technology from $65.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Benchmark upped their price target on PAR Technology from $69.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $77.38.

PAR Technology Price Performance

Shares of NYSE PAR opened at $74.91 on Tuesday. 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 has a 1 year low of $33.13 and a 1 year high of $75.57. The firm has a 50-day moving average of $57.93 and a 200 day moving average of $51.48.

PAR Technology (NYSE:PAR) last posted its quarterly earnings results on Friday, November 8th. The software maker reported ($0.09) earnings per share for the quarter, topping 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 company had revenue of $96.80 million for the quarter, compared to the consensus estimate of $91.01 million. During the same quarter in the prior year, the business posted ($0.35) EPS. The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. Research analysts anticipate that PAR Technology will post -1.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Capital Research Global Investors lifted its stake in shares of PAR Technology by 43.4% in the 1st quarter. Capital Research Global Investors now owns 3,530,843 shares of the software maker’s stock worth $155,670,000 after purchasing an additional 1,068,641 shares during the period. Progeny 3 Inc. raised its position in PAR Technology by 47.1% in the first quarter. Progeny 3 Inc. now owns 1,191,048 shares of the software maker’s stock worth $54,026,000 after acquiring an additional 381,232 shares during the period. TimesSquare Capital Management LLC bought a new stake in shares of PAR Technology during the 3rd quarter valued at $14,398,000. Magnolia Capital Advisors LLC purchased a new stake in shares of PAR Technology in the 2nd quarter worth $3,881,000. Finally, Renaissance Technologies LLC raised its holdings in PAR Technology by 252.0% in the 2nd quarter. Renaissance Technologies LLC now owns 105,600 shares of the software maker’s stock worth $4,973,000 after purchasing an additional 75,600 shares during the period.

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.