PAR Technology (NYSE:PAR) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of PAR Technology (NYSE:PAR) from a sell rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “PAR TECHNOLOGY CORP. designs, develops, manufactures, markets, installs, and services microprocessor- based transaction processing systems for the restaurant and industrial market-places, Corneal Topography systems for measuring the true topography of the eye and vision inspection systems for the food-processing industry (Commercial Segment). Co. is also engaged in the design and implementation of advanced-technology computer software systems, for the Department of Defense and other Government agencies (Government Segment). “

Separately, Needham & Company LLC initiated coverage on shares of PAR Technology in a research report on Monday, December 6th. They issued a buy rating and a $65.00 price objective on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Buy and an average price target of $94.40.

Shares of PAR stock opened at $44.10 on Wednesday. The company’s fifty day simple moving average is $55.47 and its 200-day simple moving average is $61.39. The company has a debt-to-equity ratio of 0.58, a current ratio of 4.90 and a quick ratio of 4.34. PAR Technology has a 12 month low of $43.72 and a 12 month high of $90.35.

PAR Technology (NYSE:PAR) last announced its quarterly earnings data on Tuesday, November 9th. The software maker reported ($1.23) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.72) by ($0.51). The business had revenue of $77.86 million during the quarter, compared to the consensus estimate of $71.69 million. PAR Technology had a negative return on equity of 17.51% and a negative net margin of 24.30%. As a group, sell-side analysts forecast that PAR Technology will post -2.7 EPS for the current year.

Several large investors have recently added to or reduced their stakes in PAR. Moors & Cabot Inc. acquired a new position in shares of PAR Technology in the third quarter valued at about $26,000. Spire Wealth Management bought a new position in shares of PAR Technology in the fourth quarter worth about $51,000. Chiron Investment Management LLC bought a new position in shares of PAR Technology in the second quarter worth about $114,000. Ameritas Investment Partners Inc. lifted its holdings in shares of PAR Technology by 16.5% in the second quarter. Ameritas Investment Partners Inc. now owns 1,860 shares of the software maker’s stock worth $130,000 after acquiring an additional 264 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of PAR Technology by 45.5% in the third quarter. Citigroup Inc. now owns 3,252 shares of the software maker’s stock worth $200,000 after acquiring an additional 1,017 shares during the last quarter.

About PAR Technology

PAR Technology Corp. engages in the provision of software and hardware support services for the hospitality industry. It operates through the Restaurant/Retail and Government segments. The Restaurant/Retail segment offers point-of-sale (POS) software, hardware, back-office software, systems, services, and integrated technical solutions to the restaurant and retail industries.

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