PAR Technology (NYSE:PAR) Price Target Raised to $65.00

PAR Technology (NYSE:PAR - Get Free Report) had its target price lifted by stock analysts at The Goldman Sachs Group from $57.00 to $65.00 in a report released on Monday,Benzinga reports. The firm currently has a "neutral" rating on the software maker's stock. The Goldman Sachs Group's target price would suggest a potential downside of 2.35% from the stock's previous close.

Several other analysts have also commented on PAR. Stephens restated an "overweight" rating and set a $90.00 price target on shares of PAR Technology in a research report on Friday, February 28th. StockNews.com raised PAR Technology to a "sell" rating in a research note on Monday, March 3rd. Citigroup reiterated a "neutral" rating on shares of PAR Technology in a research report on Friday, February 28th. Benchmark restated a "buy" rating on shares of PAR Technology in a report on Friday, February 28th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $90.00 price target on shares of PAR Technology in a research note on Monday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, PAR Technology currently has a consensus rating of "Moderate Buy" and an average target price of $79.86.

PAR Technology Trading Up 2.8%

NYSE PAR traded up $1.83 on Monday, hitting $66.56. The company's stock had a trading volume of 319,626 shares, compared to its average volume of 436,060. The company has a current ratio of 2.13, a quick ratio of 1.91 and a debt-to-equity ratio of 0.67. PAR Technology has a 52-week low of $41.27 and a 52-week high of $82.24. The company's 50-day simple moving average is $59.24 and its 200 day simple moving average is $67.17. The firm has a market cap of $2.70 billion, a P/E ratio of -265.13 and a beta of 1.76.

PAR Technology (NYSE:PAR - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The software maker reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.04. The business had revenue of $103.86 million during the quarter, compared to the consensus estimate of $105.16 million. PAR Technology had a negative return on equity of 8.99% and a negative net margin of 0.66%. The firm's revenue for the quarter was up 48.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.36) EPS. Research analysts predict that PAR Technology will post -1.47 EPS for the current fiscal year.

Institutional Investors Weigh In On PAR Technology

A number of large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its holdings in shares of PAR Technology by 1.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 17,303 shares of the software maker's stock worth $1,257,000 after purchasing an additional 168 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of PAR Technology by 3.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,233 shares of the software maker's stock valued at $382,000 after purchasing an additional 234 shares in the last quarter. Signaturefd LLC grew its position in PAR Technology by 85.6% in the fourth quarter. Signaturefd LLC now owns 605 shares of the software maker's stock valued at $44,000 after acquiring an additional 279 shares in the last quarter. US Bancorp DE boosted its stake in shares of PAR Technology by 104.3% in the fourth quarter. US Bancorp DE now owns 668 shares of the software maker's stock valued at $49,000 after purchasing an additional 341 shares during the period. Finally, Stratos Wealth Partners LTD. grew its holdings in PAR Technology by 7.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 4,966 shares of the software maker's stock valued at $361,000 after purchasing an additional 343 shares in 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.