BTIG Research Raises PAR Technology (NYSE:PAR) Price Target to $50.00

PAR Technology (NYSE:PAR) had its price objective lifted by BTIG Research from $43.00 to $50.00 in a report released on Monday morning, The Fly reports. They currently have a buy rating on the software maker’s stock. The analysts noted that the move was a valuation call.

A number of other analysts have also recently commented on the stock. Craig Hallum boosted their target price on shares of PAR Technology from $30.00 to $40.00 and gave the company a buy rating in a report on Monday, June 22nd. Zacks Investment Research upgraded shares of PAR Technology from a hold rating to a buy rating and set a $39.00 price target on the stock in a research note on Friday, August 14th. Roth Capital upgraded shares of PAR Technology from a neutral rating to a buy rating and upped their price target for the stock from $20.00 to $36.00 in a research note on Thursday, June 18th. Finally, ValuEngine cut shares of PAR Technology from a buy rating to a hold rating in a research note on Thursday, July 2nd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $38.50.

Shares of PAR stock opened at $42.06 on Monday. PAR Technology has a 12 month low of $9.64 and a 12 month high of $46.49. The stock has a market cap of $767.64 million, a PE ratio of -23.24 and a beta of 1.52. The company has a current ratio of 3.41, a quick ratio of 2.71 and a debt-to-equity ratio of 1.53. The company’s fifty day moving average price is $36.41 and its 200-day moving average price is $25.93.

PAR Technology (NYSE:PAR) last announced its earnings results on Friday, August 7th. The software maker reported ($0.24) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.07. PAR Technology had a negative net margin of 15.91% and a negative return on equity of 26.61%. The firm had revenue of $45.69 million for the quarter, compared to analysts’ expectations of $45.83 million. On average, sell-side analysts forecast that PAR Technology will post -0.88 earnings per share for the current fiscal year.

In other PAR Technology news, CFO Bryan A. Menar sold 5,500 shares of the company’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $29.75, for a total transaction of $163,625.00. Following the transaction, the chief financial officer now owns 11,719 shares in the company, valued at approximately $348,640.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 12.60% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. increased its position in shares of PAR Technology by 62.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,420 shares of the software maker’s stock valued at $43,000 after purchasing an additional 547 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of PAR Technology during the 2nd quarter valued at about $39,000. Steward Partners Investment Advisory LLC increased its holdings in PAR Technology by 15.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 11,285 shares of the software maker’s stock worth $338,000 after acquiring an additional 1,496 shares in the last quarter. Citigroup Inc. increased its holdings in PAR Technology by 54.3% in the 1st quarter. Citigroup Inc. now owns 4,566 shares of the software maker’s stock worth $59,000 after acquiring an additional 1,607 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in PAR Technology by 2.7% in the 1st quarter. Wells Fargo & Company MN now owns 68,187 shares of the software maker’s stock worth $878,000 after acquiring an additional 1,792 shares in the last quarter. 89.46% of the stock is owned by hedge funds and other institutional investors.

PAR Technology Company Profile

PAR Technology Corporation, together with its subsidiaries, provides management technology solutions worldwide. The company operates through two segments, Restaurant/Retail and Government. The Restaurant/Retail segment offers point-of-sale (POS) technology solutions, including cloud-based, software-as-a-service Brink and on-premise POS PixelPoint solutions, and its POS hardware platforms, as well as installation, technical, and maintenance support services.

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