PAR Technology (NYSE:PAR) Sets New 12-Month High – Here’s Why

PAR Technology Co. (NYSE:PAR) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $62.38 and last traded at $62.16, with a volume of 4655 shares changing hands. The stock had previously closed at $62.02.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PAR. Benchmark restated a “buy” rating and issued a $69.00 target price on shares of PAR Technology in a research note on Friday, August 9th. Stephens upped their price objective on shares of PAR Technology from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Jefferies Financial Group upgraded PAR Technology from a “hold” rating to a “buy” rating and raised their target price for the company from $45.00 to $60.00 in a research note on Monday, August 12th. StockNews.com upgraded PAR Technology to a “sell” rating in a research note on Wednesday, September 18th. Finally, The Goldman Sachs Group raised their price objective on PAR Technology from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. One equities research 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.17.

PAR Technology Trading Up 0.7 %

The stock has a market cap of $2.02 billion, a P/E ratio of -23.13 and a beta of 2.16. The firm’s 50 day simple moving average is $55.00 and its two-hundred day simple moving average is $49.27. 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 released 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). PAR Technology had a negative return on equity of 10.93% and a net margin of 0.44%. The business had revenue of $78.20 million for the quarter, compared to analyst estimates of $115.14 million. During the same quarter last year, the company earned ($0.65) EPS. PAR Technology’s revenue was up 12.5% compared to the same quarter last year. As a group, equities research analysts predict that PAR Technology Co. will post -1.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arcadia Investment Management Corp MI bought a new stake in PAR Technology in the second quarter valued at $32,000. Amalgamated Bank boosted its stake in 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 purchasing an additional 237 shares during the period. Central Pacific Bank Trust Division bought a new position in PAR Technology in the 1st quarter worth about $78,000. LRI Investments LLC bought a new stake in shares of PAR Technology during the first quarter valued at approximately $99,000. Finally, nVerses Capital LLC acquired a new position in shares of PAR Technology during the third quarter worth approximately $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.