PAR Technology (NYSE:PAR) Reaches New 12-Month High – Here’s What Happened

Shares of PAR Technology Co. (NYSE:PAR) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $76.37 and last traded at $76.13, with a volume of 200262 shares trading hands. The stock had previously closed at $74.93.

Analyst Ratings Changes

PAR has been the subject of several analyst reports. Needham & Company LLC boosted their price objective on PAR Technology from $66.00 to $90.00 and gave the company a “buy” rating in a report on Monday, November 11th. Craig Hallum lifted their price target on PAR Technology from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Lake Street Capital lifted their price target on PAR Technology from $57.00 to $77.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Jefferies Financial Group upgraded PAR Technology from a “hold” rating to a “buy” rating and lifted their price target for the company from $45.00 to $60.00 in a research note on Monday, August 12th. Finally, Stephens lifted their price target on PAR Technology from $70.00 to $83.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $77.38.

PAR Technology Stock Up 1.5 %

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 business has a 50-day moving average price of $59.97 and a 200-day moving average price of $52.54. The firm has a market capitalization of $2.76 billion, a PE ratio of -301.67 and a beta of 2.14.

PAR Technology (NYSE:PAR) last posted its quarterly earnings results on Friday, November 8th. The software maker reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. PAR Technology had a negative return on equity of 8.99% and a negative net margin of 0.66%. The business had revenue of $96.80 million during the quarter, compared to analyst estimates of $91.01 million. During the same period in the prior year, the business earned ($0.35) earnings per share. The business’s revenue was down 9.6% compared to the same quarter last year. Equities research analysts forecast that PAR Technology Co. will post -1.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its stake in PAR Technology by 5.1% during the third quarter. Victory Capital Management Inc. now owns 4,524 shares of the software maker’s stock worth $236,000 after purchasing an additional 219 shares in the last quarter. Amalgamated Bank lifted its stake in PAR Technology by 25.5% during the second quarter. Amalgamated Bank now owns 1,166 shares of the software maker’s stock worth $55,000 after purchasing an additional 237 shares in the last quarter. Inspire Investing LLC lifted its stake in PAR Technology by 6.1% during the third quarter. Inspire Investing LLC now owns 7,935 shares of the software maker’s stock worth $413,000 after purchasing an additional 454 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in PAR Technology by 8.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 8,212 shares of the software maker’s stock worth $372,000 after purchasing an additional 610 shares in the last quarter. Finally, Arcadia Investment Management Corp MI acquired a new position in PAR Technology during the second quarter worth $32,000.

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.