PAR Technology (NYSE:PAR) Given Buy Rating at Benchmark

Benchmark reiterated their buy rating on shares of PAR Technology (NYSE:PAR) in a research report report published on Friday morning, Benzinga reports. Benchmark currently has a $69.00 price objective on the software maker’s stock.

Several other research firms have also recently weighed in on PAR. Needham & Company LLC increased their price target on PAR Technology from $57.00 to $60.00 and gave the company a buy rating in a report on Friday. The Goldman Sachs Group increased their price target on PAR Technology from $45.00 to $51.00 and gave the company a neutral rating in a report on Monday, July 22nd. StockNews.com raised PAR Technology to a sell rating in a report on Thursday, August 1st. Finally, Stephens raised PAR Technology from an equal weight rating to an overweight rating and raised their target price for the stock from $46.00 to $60.00 in a report on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $55.13.

PAR Technology Stock Up 2.9 %

PAR traded up $1.45 during trading on Friday, hitting $50.79. 406,822 shares of the company’s stock traded hands, compared to its average volume of 417,995. The company’s 50 day simple moving average is $47.53 and its two-hundred day simple moving average is $45.57. The company has a current ratio of 2.07, a quick ratio of 1.81 and a debt-to-equity ratio of 0.72. PAR Technology has a 12-month low of $28.21 and a 12-month high of $55.66. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of -19.76 and a beta of 2.18.

PAR Technology (NYSE:PAR) last issued its earnings results on Thursday, May 9th. The software maker reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.07). The business 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%. Analysts predict that PAR Technology will post -1.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PAR Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Voss Capital LLC purchased a new position in shares of PAR Technology during the fourth quarter valued at about $15,262,000. Vanguard Group Inc. grew its position in shares of PAR Technology by 9.0% during the fourth quarter. Vanguard Group Inc. now owns 2,108,590 shares of the software maker’s stock valued at $91,808,000 after purchasing an additional 173,575 shares in the last quarter. Castleark Management LLC grew its position in PAR Technology by 59.7% in the first quarter. Castleark Management LLC now owns 79,360 shares of the software maker’s stock worth $3,600,000 after acquiring an additional 29,680 shares in the last quarter. Hodges Capital Management Inc. purchased a new position in PAR Technology in the first quarter worth about $4,354,000. Finally, Wasatch Advisors LP purchased a new position in PAR Technology in the first quarter worth about $10,194,000.

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.