BTIG Research Cuts PAR Technology (NYSE:PAR) Price Target to $60.00

PAR Technology (NYSE:PAR) had its price objective lowered by BTIG Research from $65.00 to $60.00 in a research report report published on Friday,Benzinga reports. BTIG Research currently has a buy rating on the software maker’s stock.

Several other analysts have also recently commented on PAR. William Blair restated an “outperform” rating on shares of PAR Technology in a report on Tuesday, October 14th. Weiss Ratings restated a “sell (d)” rating on shares of PAR Technology in a research report on Wednesday, October 8th. The Goldman Sachs Group dropped their target price on shares of PAR Technology from $50.00 to $38.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of PAR Technology in a research note on Friday, July 11th. Finally, Benchmark dropped their price objective on shares of PAR Technology from $92.00 to $77.00 and set a “buy” rating for the company in a research report on Tuesday, August 19th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.86.

PAR Technology Price Performance

NYSE:PAR traded down $0.09 on Friday, reaching $38.58. The stock had a trading volume of 344,890 shares, compared to its average volume of 598,482. The company has a quick ratio of 1.49, a current ratio of 1.70 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $1.57 billion, a P/E ratio of -17.15 and a beta of 1.63. PAR Technology has a 1-year low of $32.56 and a 1-year high of $82.24. The stock has a fifty day moving average price of $39.74 and a 200-day moving average price of $54.77.

PAR Technology (NYSE:PAR) last posted its earnings results on Thursday, November 6th. The software maker reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The firm had revenue of $119.18 million during the quarter, compared to the consensus estimate of $112.23 million. PAR Technology had a negative net margin of 20.64% and a negative return on equity of 3.16%. The business’s revenue was up 23.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) EPS. Research analysts forecast that PAR Technology will post -1.47 EPS for the current year.

Hedge Funds Weigh In On PAR Technology

Several institutional investors and hedge funds have recently made changes to their positions in PAR. Huntington National Bank grew its position in shares of PAR Technology by 66.2% in the 2nd quarter. Huntington National Bank now owns 437 shares of the software maker’s stock valued at $30,000 after purchasing an additional 174 shares during the period. Advisors Asset Management Inc. increased its position in shares of PAR Technology by 68.6% during the second quarter. Advisors Asset Management Inc. now owns 563 shares of the software maker’s stock worth $39,000 after acquiring an additional 229 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of PAR Technology by 3.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,233 shares of the software maker’s stock worth $382,000 after acquiring an additional 234 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of PAR Technology by 7.8% during the first quarter. Victory Capital Management Inc. now owns 4,752 shares of the software maker’s stock worth $291,000 after acquiring an additional 343 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its position in PAR Technology by 9.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,095 shares of the software maker’s stock valued at $353,000 after acquiring an additional 437 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.