PAR Technology (NYSE:PAR) Trading Up 6.7% – Time to Buy?

by · The Cerbat Gem

PAR Technology Co. (NYSE:PAR – Get Free Report) rose 6.7% on Tuesday . The stock traded as high as $56.23 and last traded at $56.22. Approximately 228,475 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 328,808 shares. The stock had previously closed at $52.67.

Analysts Set New Price Targets

A number of brokerages have commented on PAR. Needham & Company LLC boosted their price objective on PAR Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday. The Goldman Sachs Group increased their target price on shares of PAR Technology from $45.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. StockNews.com raised shares of PAR Technology to a “sell” rating in a research report on Wednesday, September 18th. Jefferies Financial Group raised PAR Technology from a “hold” rating to a “buy” rating and increased their price target for the company from $45.00 to $60.00 in a research report on Monday, August 12th. Finally, Benchmark restated a “buy” rating and issued a $69.00 price objective on shares of PAR Technology in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, PAR Technology has a consensus rating of “Moderate Buy” and a consensus price target of $61.17.

Check Out Our Latest Report on PAR Technology

PAR Technology Stock Up 0.4 %

The firm has a market capitalization of $1.91 billion, a PE ratio of -21.81 and a beta of 2.16. The stock has a 50-day simple moving average of $52.96 and a 200-day simple moving average of $48.24. 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 – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The software maker reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.05). The firm had revenue of $78.20 million during the quarter, compared to analysts’ expectations of $115.14 million. PAR Technology had a negative return on equity of 10.93% and a net margin of 0.44%. The company’s revenue was up 12.5% compared to the same quarter last year. During the same period last year, the business posted ($0.65) EPS. Analysts forecast that PAR Technology Co. will post -1.67 EPS for the current year.

Hedge Funds Weigh In On PAR Technology

A number of large investors have recently made changes to their positions in the stock. Capital Research Global Investors increased its holdings in 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 worth $155,670,000 after acquiring an additional 1,068,641 shares during the period. Progeny 3 Inc. grew its position in PAR Technology by 47.1% during 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 in the last quarter. Wasatch Advisors LP bought a new position in PAR Technology in the 1st quarter worth about $10,194,000. Vanguard Group Inc. raised its holdings in shares of PAR Technology by 9.0% in the 4th quarter. Vanguard Group Inc. now owns 2,108,590 shares of the software maker’s stock valued at $91,808,000 after acquiring an additional 173,575 shares in the last quarter. Finally, Hodges Capital Management Inc. bought a new stake in shares of PAR Technology during the 1st quarter valued at about $4,354,000.

About PAR Technology

(Get Free Report)

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.

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