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

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PAR Technology (NYSE:PAR - Get Free Report) had its price target lowered by investment analysts at Benchmark from $92.00 to $77.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the software maker's stock. Benchmark's target price would suggest a potential upside of 47.34% from the stock's current price.

A number of other equities analysts also recently issued reports on PAR. The Goldman Sachs Group upped their target price on PAR Technology from $57.00 to $65.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Needham & Company LLC reissued a "buy" rating and issued a $90.00 target price on shares of PAR Technology in a research report on Friday, July 11th. Finally, BTIG Research raised PAR Technology from a "neutral" rating to a "buy" rating and set a $65.00 price target on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.43.

PAR Technology Stock Up 0.6%

Shares of NYSE PAR opened at $52.26 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.49 and a current ratio of 1.70. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -23.23 and a beta of 1.70. The stock has a 50 day moving average price of $63.80 and a 200 day moving average price of $63.19. PAR Technology has a 52-week low of $46.24 and a 52-week high of $82.24.

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

Institutional Trading of PAR Technology

A number of hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. increased its holdings in shares of PAR Technology by 164.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 30,177 shares of the software maker's stock worth $2,193,000 after buying an additional 18,763 shares during the last quarter. Russell Investments Group Ltd. boosted its position in PAR Technology by 10,370.0% in the 4th quarter. Russell Investments Group Ltd. now owns 8,376 shares of the software maker's stock valued at $609,000 after buying an additional 8,296 shares during the period. Raymond James Financial Inc. purchased a new position in PAR Technology in the 4th quarter valued at approximately $2,067,000. Mariner LLC lifted its position in shares of PAR Technology by 14.1% during the 4th quarter. Mariner LLC now owns 24,603 shares of the software maker's stock worth $1,788,000 after purchasing an additional 3,039 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of PAR Technology by 900.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 3,000 shares of the software maker's stock valued at $218,000 after acquiring an additional 2,700 shares during the last quarter.

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.

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