PAR Technology (NYSE:PAR) Hits New 52-Week High – Should You Buy?

PAR Technology Co. (NYSE:PAR)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $59.01 and last traded at $58.99, with a volume of 83355 shares traded. The stock had previously closed at $57.08.

Analysts Set New Price Targets

PAR has been the topic of a number of recent research reports. Needham & Company LLC increased their target price on PAR Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. The Goldman Sachs Group lifted their target price on PAR Technology from $52.00 to $59.00 and gave the stock a “neutral” rating in a report on Monday. Benchmark restated a “buy” rating and issued a $69.00 price target on shares of PAR Technology in a research note on Friday, August 9th. Jefferies Financial Group upgraded shares of PAR Technology from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $45.00 to $60.00 in a research note on Monday, August 12th. Finally, StockNews.com upgraded shares of PAR Technology to a “sell” rating in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, PAR Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.50.

PAR Technology Trading Up 3.7 %

The company has a market cap of $2.01 billion, a price-to-earnings ratio of -22.21 and a beta of 2.16. The business’s fifty day moving average price is $53.77 and its 200 day moving average price is $48.61. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.12 and a quick ratio of 2.80.

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

Hedge Funds Weigh In On PAR Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Amalgamated Bank lifted its holdings in PAR Technology by 25.5% in the second quarter. Amalgamated Bank now owns 1,166 shares of the software maker’s stock valued at $55,000 after buying an additional 237 shares during the period. Inspire Investing LLC lifted its holdings in PAR Technology by 6.1% in the third quarter. Inspire Investing LLC now owns 7,935 shares of the software maker’s stock valued at $413,000 after buying an additional 454 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in PAR Technology by 8.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 8,212 shares of the software maker’s stock valued at $372,000 after buying an additional 610 shares during the period. Arcadia Investment Management Corp MI acquired a new position in PAR Technology in the second quarter valued at $32,000. Finally, Price T Rowe Associates Inc. MD increased its stake in PAR Technology by 14.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,655 shares of the software maker’s stock valued at $348,000 after purchasing an additional 954 shares in 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.