PAR Technology (NYSE:PAR) Price Target Raised to $65.00 at The Goldman Sachs Group

PAR Technology (NYSE:PAR) had its price target boosted by analysts at The Goldman Sachs Group from $57.00 to $65.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the software maker’s stock. The Goldman Sachs Group’s price objective would suggest a potential downside of 2.35% from the stock’s current price.

Several other brokerages have also recently weighed in on PAR. Craig Hallum restated a “buy” rating on shares of PAR Technology in a report on Friday, February 28th. Stephens reiterated an “overweight” rating and set a $90.00 price objective on shares of PAR Technology in a research report on Friday, February 28th. StockNews.com upgraded shares of PAR Technology to a “sell” rating in a research report on Monday, March 3rd. Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of PAR Technology in a report on Monday. Finally, Benchmark reiterated a “buy” rating on shares of PAR Technology in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $79.86.

PAR Technology Stock Up 2.8%

Shares of NYSE:PAR traded up $1.83 on Monday, reaching $66.56. The company had a trading volume of 319,626 shares, compared to its average volume of 436,060. The company has a quick ratio of 1.91, a current ratio of 2.13 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $2.70 billion, a P/E ratio of -265.13 and a beta of 1.76. The stock has a 50-day moving average price of $59.24 and a 200 day moving average price of $67.17. PAR Technology has a twelve month low of $41.27 and a twelve month high of $82.24.

PAR Technology (NYSE:PAR) last announced its quarterly earnings data on Friday, May 9th. The software maker reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.04. PAR Technology had a negative return on equity of 8.99% and a negative net margin of 0.66%. The company had revenue of $103.86 million for the quarter, compared to analyst estimates of $105.16 million. During the same quarter last year, the firm earned ($0.36) EPS. PAR Technology’s revenue for the quarter was up 48.2% compared to the same quarter last year. On average, equities analysts expect that PAR Technology will post -1.47 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PAR. Invesco Ltd. lifted its position in PAR Technology by 100.9% in the fourth quarter. Invesco Ltd. now owns 1,283,978 shares of the software maker’s stock valued at $93,307,000 after purchasing an additional 644,920 shares during the last quarter. Loomis Sayles & Co. L P purchased a new position in PAR Technology during the 4th quarter valued at about $33,011,000. Hood River Capital Management LLC purchased a new stake in PAR Technology in the fourth quarter worth $30,392,000. GW&K Investment Management LLC purchased a new position in PAR Technology during the 1st quarter valued at $24,018,000. Finally, Nuveen Asset Management LLC raised its holdings in PAR Technology by 194.2% in 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 in the last quarter.

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.