PAR Technology (NYSE:PAR) Given New $77.00 Price Target at Benchmark

PAR Technology (NYSE:PAR) had its price target reduced by Benchmark from $92.00 to $77.00 in a research note published on Tuesday morning,Benzinga reports. Benchmark currently has a buy rating on the software maker’s stock.

A number of other research firms have also recently issued reports on PAR. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of PAR Technology in a report on Friday, July 11th. The Goldman Sachs Group lifted their price target on PAR Technology from $57.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, May 12th. Finally, BTIG Research raised PAR Technology from a “neutral” rating to a “buy” rating and set a $65.00 price target for the company in a report on Friday, August 15th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $78.43.

PAR Technology Stock Down 1.3%

Shares of NYSE PAR opened at $51.5790 on Tuesday. The stock has a market cap of $2.09 billion, a PE ratio of -22.92 and a beta of 1.70. The business has a fifty day moving average of $63.51 and a two-hundred day moving average of $63.11. PAR Technology has a 52-week low of $46.24 and a 52-week high of $82.24. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.49 and a current ratio of 1.70.

PAR Technology (NYSE:PAR) last issued its quarterly earnings data on Friday, August 8th. The software maker reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). PAR Technology had a negative net margin of 20.64% and a negative return on equity of 3.16%. The company had revenue of $112.40 million for the quarter, compared to the consensus estimate of $111.02 million. During the same period in the previous year, the business posted ($0.23) earnings per share. The firm’s revenue was up 43.8% compared to the same quarter last year. As a group, equities research analysts expect that PAR Technology will post -1.47 earnings per share for the current fiscal year.

Institutional Trading of PAR Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PAR. Hood River Capital Management LLC acquired a new stake in PAR Technology in the fourth quarter worth about $30,392,000. Nuveen LLC acquired a new stake in PAR Technology in the first quarter worth about $24,500,000. GW&K Investment Management LLC acquired a new position in shares of PAR Technology during the 1st quarter worth about $24,018,000. Invesco Ltd. grew its position in shares of PAR Technology by 24.1% during the 2nd quarter. Invesco Ltd. now owns 1,877,239 shares of the software maker’s stock worth $130,224,000 after buying an additional 364,892 shares during the period. Finally, Nuveen Asset Management LLC grew its position in shares of PAR Technology by 194.2% during the 4th quarter. Nuveen Asset Management LLC now owns 400,251 shares of the software maker’s stock worth $29,086,000 after buying an additional 264,188 shares during the period.

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.