PAR Technology (NYSE:PAR) Hits New 12-Month High – What’s Next?

Shares of PAR Technology Co. (NYSE:PAR) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $62.40 and last traded at $61.87, with a volume of 115450 shares changing hands. The stock had previously closed at $60.93.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PAR shares. Benchmark reaffirmed a “buy” rating and issued a $69.00 price objective on shares of PAR Technology in a report on Friday, August 9th. Jefferies Financial Group raised shares of PAR Technology from a “hold” rating to a “buy” rating and boosted their price objective for the company from $45.00 to $60.00 in a research report on Monday, August 12th. Stephens raised their target price on shares of PAR Technology from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Needham & Company LLC upped their target price on PAR Technology from $60.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, The Goldman Sachs Group increased their price target on PAR Technology from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $64.17.

PAR Technology Stock Up 0.3 %

The firm has a 50 day simple moving average of $56.39 and a two-hundred day simple moving average of $50.56. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.80 and a current ratio of 3.12. The stock has a market cap of $2.41 billion, a P/E ratio of -265.04 and a beta of 2.14.

PAR Technology (NYSE:PAR) last released its quarterly earnings results on Thursday, August 8th. The software maker reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $78.20 million for the quarter, compared to the consensus estimate of $115.14 million. During the same quarter last year, the firm posted ($0.65) earnings per share. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. Equities research analysts predict that PAR Technology Co. will post -1.67 earnings per share for the current year.

Institutional Investors Weigh In On PAR Technology

A number of institutional investors have recently added to or reduced their stakes in the company. RiverPark Advisors LLC lifted its holdings in PAR Technology by 21.3% in the 3rd quarter. RiverPark Advisors LLC now owns 4,929 shares of the software maker’s stock valued at $257,000 after acquiring an additional 865 shares during the last quarter. Royce & Associates LP lifted its stake in PAR Technology by 2.6% during the third quarter. Royce & Associates LP now owns 1,184,279 shares of the software maker’s stock valued at $61,677,000 after purchasing an additional 30,000 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in PAR Technology during the third quarter worth approximately $308,000. Victory Capital Management Inc. grew its position in PAR Technology by 5.1% in the third quarter. Victory Capital Management Inc. now owns 4,524 shares of the software maker’s stock worth $236,000 after buying an additional 219 shares during the last quarter. Finally, Lisanti Capital Growth LLC bought a new position in shares of PAR Technology in the third quarter valued at $3,520,000.

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.