PAR Technology (NYSE:PAR) Reaches New 1-Year High on Strong Earnings

PAR Technology Co. (NYSE:PAR)’s share price hit a new 52-week high on Monday after the company announced better than expected quarterly earnings. The company traded as high as $75.00 and last traded at $75.00, with a volume of 431 shares changing hands. The stock had previously closed at $74.24.

The software maker reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.01. The firm had revenue of $96.80 million for the quarter, compared to analysts’ expectations of $91.01 million. PAR Technology had a net margin of 0.44% and a negative return on equity of 10.93%. The business’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.35) earnings per share.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PAR shares. Craig Hallum upped their price target on shares of PAR Technology from $65.00 to $85.00 and gave the stock a “buy” rating in a report on Monday. Jefferies Financial Group raised PAR Technology from a “hold” rating to a “buy” rating and increased their target price for the company from $45.00 to $60.00 in a research note on Monday, August 12th. Needham & Company LLC increased their target price on PAR Technology from $66.00 to $90.00 and gave the company a “buy” rating in a research note on Monday. Stephens increased their target price on PAR Technology from $70.00 to $83.00 and gave the company an “overweight” rating in a research note on Monday. Finally, StockNews.com raised PAR Technology to a “sell” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, PAR Technology presently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Institutional Trading of PAR Technology

Several institutional investors have recently added to or reduced their stakes in the business. Capital Research Global Investors boosted its position in 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 valued at $155,670,000 after buying an additional 1,068,641 shares during the period. Vanguard Group Inc. boosted its holdings in shares of PAR Technology by 2.4% during the first quarter. Vanguard Group Inc. now owns 2,159,383 shares of the software maker’s stock worth $97,950,000 after purchasing an additional 50,793 shares during the period. Progeny 3 Inc. boosted its holdings in shares of PAR Technology by 10.9% during the second quarter. Progeny 3 Inc. now owns 1,320,858 shares of the software maker’s stock worth $62,199,000 after purchasing an additional 129,810 shares during the period. Royce & Associates LP boosted its holdings in shares of PAR Technology by 2.6% during the third quarter. Royce & Associates LP now owns 1,184,279 shares of the software maker’s stock worth $61,677,000 after purchasing an additional 30,000 shares during the period. Finally, Reinhart Partners LLC. boosted its holdings in shares of PAR Technology by 6.4% during the third quarter. Reinhart Partners LLC. now owns 946,773 shares of the software maker’s stock worth $49,308,000 after purchasing an additional 57,049 shares during the period.

PAR Technology Trading Up 1.2 %

The company has a quick ratio of 2.80, a current ratio of 3.12 and a debt-to-equity ratio of 0.64. The stock’s fifty day moving average price is $57.04 and its two-hundred day moving average price is $51.02. The company has a market capitalization of $2.73 billion, a PE ratio of -300.63 and a beta of 2.14.

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.