PAR Technology (NYSE:PAR) Sets New 1-Year High – Time to Buy?

PAR Technology Co. (NYSE:PAR) hit a new 52-week high during trading on Tuesday . The stock traded as high as $62.40 and last traded at $61.87, with a volume of 115450 shares traded. The stock had previously closed at $60.93.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PAR shares. The Goldman Sachs Group lifted their price target on shares of PAR Technology from $52.00 to $59.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. StockNews.com upgraded PAR Technology to a “sell” rating in a research report on Wednesday, September 18th. Benchmark reissued a “buy” rating and issued a $69.00 target price on shares of PAR Technology in a report on Friday, August 9th. Stephens lifted their price target on PAR Technology from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, Needham & Company LLC increased their price objective on shares of PAR Technology from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $64.17.

PAR Technology Stock Performance

The company has a market cap of $2.41 billion, a PE ratio of -265.04 and a beta of 2.14. The stock’s 50 day simple moving average is $56.39 and its two-hundred day simple moving average is $50.56. 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 posted its quarterly earnings results 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 business had revenue of $78.20 million during the quarter, compared to analysts’ expectations of $115.14 million. During the same quarter in the previous year, the business posted ($0.65) EPS. The company’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, research analysts anticipate that PAR Technology Co. will post -1.67 earnings per share for the current year.

Hedge Funds Weigh In On PAR Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Arcadia Investment Management Corp MI acquired a new position in shares of PAR Technology in the second quarter worth about $32,000. Amalgamated Bank boosted its stake in shares of PAR Technology by 25.5% during the 2nd 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 last quarter. Central Pacific Bank Trust Division acquired a new stake in PAR Technology in the first quarter valued at $78,000. LRI Investments LLC bought a new stake in shares of PAR Technology in the 1st quarter worth about $99,000. Finally, nVerses Capital LLC acquired a new stake in shares of PAR Technology in the 3rd quarter valued at about $125,000.

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.