Analysts Set PAR Technology Co. (NYSE:PAR) Target Price at $58.00

PAR Technology Co. (NYSE:PAR) has earned an average rating of “Moderate Buy” from the seven ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $58.00.

A number of equities research analysts recently issued reports on the company. Benchmark reiterated a “buy” rating and issued a $69.00 price objective on shares of PAR Technology in a research report on Friday, August 9th. Jefferies Financial Group raised PAR Technology from a “hold” rating to a “buy” rating and raised their price target for the company from $45.00 to $60.00 in a report on Monday, August 12th. The Goldman Sachs Group boosted their price objective on PAR Technology from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Needham & Company LLC raised their target price on shares of PAR Technology from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Stephens raised shares of PAR Technology from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $46.00 to $60.00 in a research note on Thursday, June 13th.

PAR Technology Stock Down 1.9 %

Shares of NYSE PAR opened at $52.75 on Monday. The business has a 50-day simple moving average of $52.97 and a two-hundred day simple moving average of $47.62. PAR Technology has a 52 week low of $28.21 and a 52 week high of $58.57. The company has a market cap of $1.79 billion, a P/E ratio of -20.53 and a beta of 2.17. The company has a quick ratio of 2.80, a current ratio of 3.12 and a debt-to-equity ratio of 0.64.

PAR Technology (NYSE:PAR) last issued its quarterly earnings data on Thursday, August 8th. The software maker reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.05). PAR Technology had a net margin of 0.44% and a negative return on equity of 10.93%. The firm had revenue of $78.20 million for the quarter, compared to analysts’ expectations of $115.14 million. During the same period in the prior year, the firm posted ($0.65) EPS. PAR Technology’s revenue was up 12.5% on a year-over-year basis. Research analysts anticipate that PAR Technology will post -1.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Capital Research Global Investors grew its holdings in shares of PAR Technology by 43.4% during the 1st quarter. Capital Research Global Investors now owns 3,530,843 shares of the software maker’s stock valued at $155,670,000 after purchasing an additional 1,068,641 shares during the last quarter. Progeny 3 Inc. increased its holdings in shares of 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 buying an additional 381,232 shares during the period. Wasatch Advisors LP bought a new stake in shares of PAR Technology in the 1st quarter valued at about $10,194,000. Vanguard Group Inc. grew its position in PAR Technology by 9.0% during the 4th quarter. Vanguard Group Inc. now owns 2,108,590 shares of the software maker’s stock worth $91,808,000 after acquiring an additional 173,575 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC grew its position in PAR Technology by 94.1% during the 4th quarter. Intrinsic Edge Capital Management LLC now owns 315,607 shares of the software maker’s stock worth $13,742,000 after acquiring an additional 152,972 shares during the last quarter.

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.