PAR Technology (NYSE:PAR) Price Target Raised to $69.00

PAR Technology (NYSE:PAR) had its price objective raised by Benchmark from $61.00 to $69.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

Several other equities analysts have also weighed in on the company. Stephens raised PAR Technology from an equal weight rating to an overweight rating and lifted their price objective for the company from $46.00 to $60.00 in a research note on Thursday, June 13th. The Goldman Sachs Group lifted their price target on shares of PAR Technology from $45.00 to $51.00 and gave the company a neutral rating in a research report on Monday, July 22nd. Finally, Needham & Company LLC boosted their price objective on shares of PAR Technology from $53.00 to $57.00 and gave the stock a buy rating in a research note on Tuesday, June 11th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $54.75.

PAR Technology Price Performance

PAR Technology stock opened at $53.36 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.81 and a current ratio of 2.07. PAR Technology has a 1 year low of $28.21 and a 1 year high of $55.66. The firm has a 50 day moving average price of $47.30 and a 200 day moving average price of $45.14.

PAR Technology (NYSE:PAR) last announced its quarterly earnings data on Thursday, May 9th. The software maker reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.07). The company had revenue of $105.50 million for the quarter, compared to analysts’ expectations of $111.00 million. PAR Technology had a negative net margin of 17.14% and a negative return on equity of 14.53%. As a group, sell-side analysts forecast that PAR Technology will post -1.17 EPS for the current fiscal year.

Institutional Trading of PAR Technology

A number of hedge funds have recently made changes to their positions in the company. Voss Capital LLC acquired a new stake in PAR Technology during the 4th quarter valued at $15,262,000. Vanguard Group Inc. boosted its position in PAR Technology by 9.0% in the 4th quarter. Vanguard Group Inc. now owns 2,108,590 shares of the software maker’s stock valued at $91,808,000 after buying an additional 173,575 shares during the last quarter. Hodges Capital Management Inc. acquired a new stake in shares of PAR Technology during the first quarter valued at about $4,354,000. Wasatch Advisors LP purchased a new stake in shares of PAR Technology during the first quarter worth about $10,194,000. Finally, Intrinsic Edge Capital Management LLC lifted its stake in shares of PAR Technology by 94.1% in the fourth quarter. Intrinsic Edge Capital Management LLC now owns 315,607 shares of the software maker’s stock worth $13,742,000 after acquiring an additional 152,972 shares in the last quarter.

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.