Stephens Raises PAR Technology (NYSE:PAR) Price Target to $83.00

PAR Technology (NYSE:PAR) had its price target hoisted by Stephens from $70.00 to $83.00 in a research report released on Monday,Benzinga reports. Stephens currently has an overweight rating on the software maker’s stock.

Several other brokerages have also commented on PAR. The Goldman Sachs Group increased their price objective on PAR Technology from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Needham & Company LLC boosted their price target on PAR Technology from $66.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday. Jefferies Financial Group upgraded shares of PAR Technology from a “hold” rating to a “buy” rating and upped their price objective for the company from $45.00 to $60.00 in a report on Monday, August 12th. Benchmark reiterated a “buy” rating and issued a $69.00 target price on shares of PAR Technology in a research note on Friday, August 9th. Finally, StockNews.com upgraded shares of PAR Technology to a “sell” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $77.38.

PAR Technology Stock Performance

PAR opened at $73.00 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.13 and a quick ratio of 2.80. PAR Technology has a 12-month low of $34.87 and a 12-month high of $76.10. The business’s fifty day simple moving average is $58.36 and its 200-day simple moving average is $51.64.

PAR Technology (NYSE:PAR) last released its quarterly earnings data on Friday, November 8th. The software maker reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The firm had revenue of $96.80 million for the quarter, compared to the consensus estimate of $91.01 million. PAR Technology had a negative net margin of 0.66% and a negative return on equity of 8.99%. The company’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period last year, the firm earned ($0.35) earnings per share. As a group, sell-side analysts expect that PAR Technology will post -1.67 EPS for the current year.

Institutional Trading of PAR Technology

A number of hedge funds have recently added to or reduced their stakes in PAR. Arcadia Investment Management Corp MI acquired a new position in shares of PAR Technology in the second quarter worth about $32,000. Amalgamated Bank grew 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 purchasing an additional 237 shares during the period. LRI Investments LLC purchased a new stake in shares of PAR Technology in the first quarter valued at approximately $99,000. nVerses Capital LLC acquired a new position in shares of PAR Technology during the 3rd quarter worth approximately $125,000. Finally, RiverPark Advisors LLC acquired a new stake in PAR Technology in the 2nd quarter valued at $191,000.

PAR Technology Company Profile

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.