Benchmark Cuts PAR Technology (NYSE:PAR) Price Target to $77.00

Key Points

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PAR Technology (NYSE:PAR - Free Report) had its price target lowered by Benchmark from $92.00 to $77.00 in a report published on Tuesday,Benzinga reports. The firm currently has a buy rating on the software maker's stock.

A number of other brokerages have also recently commented on PAR. Needham & Company LLC reaffirmed a "buy" rating and issued a $90.00 target price on shares of PAR Technology in a report on Friday, July 11th. The Goldman Sachs Group boosted their price objective on shares of PAR Technology from $57.00 to $65.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. Finally, BTIG Research upgraded shares of PAR Technology from a "neutral" rating to a "buy" rating and set a $65.00 target price on the stock in a research 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.43.

PAR Technology Stock Up 6.5%

PAR Technology stock traded up $3.3370 during mid-day trading on Tuesday, hitting $54.5370. The company had a trading volume of 650,152 shares, compared to its average volume of 1,094,834. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -24.24 and a beta of 1.70. PAR Technology has a 1 year low of $46.24 and a 1 year high of $82.24. The company has a quick ratio of 1.49, a current ratio of 1.70 and a debt-to-equity ratio of 0.43. The business has a fifty day moving average of $62.83 and a 200 day moving average of $62.70.

PAR Technology (NYSE:PAR - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The software maker reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $112.40 million during the quarter, compared to analysts' expectations of $111.02 million. PAR Technology had a negative net margin of 20.64% and a negative return on equity of 3.16%. The business's revenue for the quarter was up 43.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.23) earnings per share. On average, sell-side analysts expect that PAR Technology will post -1.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PAR. Huntington National Bank increased its stake in shares of PAR Technology by 66.2% during the 2nd quarter. Huntington National Bank now owns 437 shares of the software maker's stock valued at $30,000 after acquiring an additional 174 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of PAR Technology by 8,616.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the software maker's stock valued at $32,000 after acquiring an additional 517 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of PAR Technology by 68.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 563 shares of the software maker's stock valued at $39,000 after acquiring an additional 229 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of PAR Technology by 996.6% during the 1st quarter. Versant Capital Management Inc now owns 647 shares of the software maker's stock valued at $40,000 after acquiring an additional 588 shares during the last quarter. Finally, NBC Securities Inc. acquired a new position in shares of PAR Technology during the 1st quarter valued at about $40,000.

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.