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

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PAR. The Goldman Sachs Group boosted their target price on PAR Technology from $59.00 to $71.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Needham & Company LLC upped their target price on shares of PAR Technology from $66.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Benchmark lifted their price target on shares of PAR Technology from $69.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Jefferies Financial Group raised PAR Technology from a “hold” rating to a “buy” rating and raised their price objective for the stock from $45.00 to $60.00 in a research note on Monday, August 12th. Finally, Stephens lifted their target price on PAR Technology from $70.00 to $83.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.38.

PAR Technology Stock Performance

The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of -308.71 and a beta of 2.14. The stock’s 50 day moving average price is $60.84 and its 200 day moving average price is $52.87. The company has a current ratio of 2.13, a quick ratio of 1.91 and a debt-to-equity ratio of 0.67.

PAR Technology (NYSE:PAR) last issued its quarterly earnings results on Friday, November 8th. The software maker reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.01. The firm had revenue of $96.80 million during the quarter, compared to analysts’ expectations of $91.01 million. PAR Technology had a negative return on equity of 8.99% and a negative net margin of 0.66%. The business’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.35) earnings per share. Analysts expect that PAR Technology Co. will post -1.56 earnings per share for the current year.

Hedge Funds Weigh In On PAR Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. Castleark Management LLC raised its position in shares of PAR Technology by 59.7% in the first quarter. Castleark Management LLC now owns 79,360 shares of the software maker’s stock valued at $3,600,000 after purchasing an additional 29,680 shares during the period. Magnolia Capital Advisors LLC bought a new position in PAR Technology in the 2nd quarter valued at about $3,881,000. Harbor Capital Advisors Inc. lifted its position in PAR Technology by 219.0% during the second quarter. Harbor Capital Advisors Inc. now owns 41,182 shares of the software maker’s stock worth $1,939,000 after acquiring an additional 28,273 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of PAR Technology by 43.4% during 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. Finally, Resolute Capital Asset Partners LLC grew its position in shares of PAR Technology by 33.3% in the second quarter. Resolute Capital Asset Partners LLC now owns 60,000 shares of the software maker’s stock valued at $2,825,000 after purchasing an additional 15,000 shares during the last quarter.

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.