Benchmark Cuts PAR Technology (NYSE:PAR) Price Target to $77.00

PAR Technology (NYSE:PAR) had its price target lowered by Benchmark from $92.00 to $77.00 in a research note published on Tuesday,Benzinga reports. Benchmark currently has a buy rating on the software maker’s stock.

Other research analysts also recently issued research reports about the company. The Goldman Sachs Group increased their price target on PAR Technology from $57.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, May 12th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of PAR Technology in a research report on Friday, July 11th. Finally, BTIG Research upgraded shares of PAR Technology from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Friday, August 15th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, PAR Technology has a consensus rating of “Moderate Buy” and a consensus price target of $78.43.

PAR Technology Price Performance

Shares of PAR stock opened at $51.13 on Tuesday. The firm has a fifty day simple moving average of $62.99 and a 200-day simple moving average of $62.89. The company has a market capitalization of $2.07 billion, a PE ratio of -22.72 and a beta of 1.70. PAR Technology has a twelve month low of $46.24 and a twelve month high of $82.24. The company has a current ratio of 1.70, a quick ratio of 1.49 and a debt-to-equity ratio of 0.43.

PAR Technology (NYSE:PAR) last issued its quarterly earnings data on Friday, August 8th. The software maker reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $112.40 million during the quarter, compared to analyst estimates of $111.02 million. PAR Technology had a negative return on equity of 3.16% and a negative net margin of 20.64%.The business’s quarterly revenue was up 43.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.23) EPS. Equities research analysts anticipate that PAR Technology will post -1.47 earnings per share for the current fiscal year.

Institutional Trading of PAR Technology

A number of institutional investors and hedge funds have recently modified their holdings of the business. Hood River Capital Management LLC acquired a new position in shares of PAR Technology in the 4th quarter valued at about $30,392,000. Nuveen LLC acquired a new position in PAR Technology in the first quarter valued at approximately $24,500,000. GW&K Investment Management LLC acquired a new position in PAR Technology in the first quarter valued at approximately $24,018,000. Invesco Ltd. grew its holdings in shares of PAR Technology by 24.1% during the second quarter. Invesco Ltd. now owns 1,877,239 shares of the software maker’s stock valued at $130,224,000 after purchasing an additional 364,892 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its position in shares of PAR Technology by 194.2% during the 4th quarter. Nuveen Asset Management LLC now owns 400,251 shares of the software maker’s stock worth $29,086,000 after purchasing an additional 264,188 shares during the period.

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.