Stephens Forecasts Strong Price Appreciation for PAR Technology (NYSE:PAR) Stock

PAR Technology (NYSE:PAR) had its price objective increased by Stephens from $70.00 to $83.00 in a research report report published on Monday,Benzinga reports. Stephens currently has an overweight rating on the software maker’s stock.

Several other research analysts also recently commented on the stock. StockNews.com raised shares of PAR Technology to a “sell” rating in a research note on Thursday, November 7th. Jefferies Financial Group raised shares of PAR Technology from a “hold” rating to a “buy” rating and boosted their price target for the stock from $45.00 to $60.00 in a research note on Monday, August 12th. Benchmark reaffirmed a “buy” rating and set a $69.00 price objective on shares of PAR Technology in a research note on Friday, August 9th. The Goldman Sachs Group boosted their target price on PAR Technology from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Finally, Needham & Company LLC raised their price target on PAR Technology from $66.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday. One 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $77.38.

PAR Technology Price Performance

Shares of NYSE:PAR opened at $74.27 on Monday. The company’s fifty day moving average price is $58.36 and its 200-day moving average price is $51.64. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.13 and a quick ratio of 2.80. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of -297.07 and a beta of 2.14. PAR Technology has a one year low of $34.63 and a one year high of $76.10.

PAR Technology (NYSE:PAR) last released its quarterly earnings results on Friday, November 8th. The software maker reported ($0.09) earnings per share 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 for the quarter, compared to the consensus estimate of $91.01 million. During the same quarter last year, the business posted ($0.35) earnings per share. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. On average, equities research analysts anticipate that PAR Technology will post -1.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PAR Technology

Large investors have recently made changes to their positions in the business. Capital Research Global Investors lifted its stake in PAR Technology by 43.4% in the first quarter. Capital Research Global Investors now owns 3,530,843 shares of the software maker’s stock worth $155,670,000 after acquiring an additional 1,068,641 shares during the period. Progeny 3 Inc. raised its holdings in PAR Technology by 47.1% in the 1st quarter. Progeny 3 Inc. now owns 1,191,048 shares of the software maker’s stock worth $54,026,000 after purchasing an additional 381,232 shares in the last quarter. TimesSquare Capital Management LLC purchased a new stake in shares of PAR Technology in the 3rd quarter worth about $14,398,000. Magnolia Capital Advisors LLC bought a new stake in shares of PAR Technology during the 2nd quarter valued at about $3,881,000. Finally, Renaissance Technologies LLC increased its position in shares of PAR Technology by 252.0% during the second quarter. Renaissance Technologies LLC now owns 105,600 shares of the software maker’s stock valued at $4,973,000 after buying an additional 75,600 shares during the period.

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.