PAR Technology (NYSE:PAR) Price Target Increased to $69.00 by Analysts at Benchmark

PAR Technology (NYSE:PAR) had its price objective raised by Benchmark from $61.00 to $69.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Benchmark’s price objective would suggest a potential upside of 28.90% from the stock’s previous close.

PAR has been the subject of several other research reports. Needham & Company LLC upped their price target on shares of PAR Technology from $53.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Stephens raised shares of PAR Technology from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $46.00 to $60.00 in a report on Thursday, June 13th. Finally, The Goldman Sachs Group lifted their price target on shares of PAR Technology from $45.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.75.

PAR Technology Stock Performance

PAR traded up $0.30 during mid-day trading on Thursday, reaching $53.53. 279,046 shares of the company traded hands, compared to its average volume of 309,203. The company’s fifty day moving average price is $47.01 and its 200-day moving average price is $44.98. The stock has a market capitalization of $1.82 billion, a P/E ratio of -20.95 and a beta of 2.18. The company has a quick ratio of 1.81, a current ratio of 2.07 and a debt-to-equity ratio of 0.72. PAR Technology has a 52-week low of $28.21 and a 52-week high of $55.66.

PAR Technology (NYSE:PAR) last issued its quarterly earnings data on Thursday, May 9th. The software maker reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.07). PAR Technology had a negative return on equity of 14.53% and a negative net margin of 17.14%. The firm had revenue of $105.50 million during the quarter, compared to the consensus estimate of $111.00 million. On average, sell-side analysts expect that PAR Technology will post -1.17 EPS for the current year.

Hedge Funds Weigh In On PAR Technology

A number of hedge funds and other institutional investors have recently modified their holdings of PAR. Vanguard Group Inc. increased its holdings in PAR Technology by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,935,015 shares of the software maker’s stock valued at $74,575,000 after acquiring an additional 19,430 shares during the last quarter. SG Americas Securities LLC grew its position in shares of PAR Technology by 32.4% during the fourth quarter. SG Americas Securities LLC now owns 12,133 shares of the software maker’s stock valued at $528,000 after purchasing an additional 2,966 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of PAR Technology by 15.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 22,625 shares of the software maker’s stock worth $985,000 after purchasing an additional 3,100 shares during the last quarter. Voss Capital LLC purchased a new stake in shares of PAR Technology in the fourth quarter worth about $15,262,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of PAR Technology by 8.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,908 shares of the software maker’s stock worth $257,000 after buying an additional 468 shares in 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.