PAR Technology (NYSE:PAR) Reaches New 12-Month High – Here’s What Happened

PAR Technology Co. (NYSE:PAR) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $76.37 and last traded at $76.13, with a volume of 200262 shares changing hands. The stock had previously closed at $74.93.

Analyst Ratings Changes

A number of analysts recently weighed in on PAR shares. Craig Hallum boosted their target price on PAR Technology from $65.00 to $85.00 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 boosted their target price for the stock from $45.00 to $60.00 in a research report on Monday, August 12th. Lake Street Capital boosted their target price on PAR Technology from $57.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Stephens lifted their price target on PAR Technology from $70.00 to $83.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, StockNews.com raised PAR Technology to a “sell” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, PAR Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.38.

PAR Technology Price Performance

The firm has a fifty day simple moving average of $59.97 and a 200 day simple moving average of $52.54. The company has a market capitalization of $2.76 billion, a PE ratio of -301.67 and a beta of 2.14. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.91 and a current ratio of 2.13.

PAR Technology (NYSE:PAR) last posted its quarterly earnings data on Friday, November 8th. The software maker reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. The firm had revenue of $96.80 million during 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%. The business’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.35) EPS. Equities analysts anticipate that PAR Technology Co. will post -1.67 EPS for the current year.

Institutional Trading of PAR Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in PAR Technology during the 3rd quarter worth about $655,000. Geode Capital Management LLC lifted its position in PAR Technology by 11.1% during the 3rd quarter. Geode Capital Management LLC now owns 819,035 shares of the software maker’s stock worth $42,664,000 after acquiring an additional 81,551 shares during the period. ABS Direct Equity Fund LLC lifted its position in PAR Technology by 7.3% during the 3rd quarter. ABS Direct Equity Fund LLC now owns 73,580 shares of the software maker’s stock worth $3,832,000 after acquiring an additional 5,000 shares during the period. Barclays PLC lifted its holdings in shares of PAR Technology by 431.3% in the 3rd 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 period. Finally, Castleark Management LLC lifted 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 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.