PAR Technology (NYSE:PAR) Raised to "Buy" at BTIG Research

Key Points

• PAR Technology was upgraded from a "neutral" rating to a "buy" rating by BTIG Research, with a price target of $65.00, indicating a potential upside of 25.23% from its previous close.
• The company reported a 43.8% year-over-year revenue increase, with quarterly revenues of $112.40 million, although it missed EPS estimates by $0.01.
• Currently, the stock has a consensus rating of "Moderate Buy" among analysts, with a consensus price target of $80.57.

BTIG Research upgraded shares of PAR Technology (NYSE:PAR - Free Report) from a neutral rating to a buy rating in a report issued on Friday, MarketBeat reports. They currently have $65.00 price target on the software maker's stock.

Several other research analysts also recently issued reports on PAR. Needham & Company LLC reiterated a "buy" rating and set a $90.00 price target on shares of PAR Technology in a report on Friday, July 11th. The Goldman Sachs Group upped their price target on shares of PAR Technology from $57.00 to $65.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $78.43.

PAR Technology Price Performance

PAR traded down $0.1380 during trading on Friday, hitting $51.3620. 241,227 shares of the stock traded hands, compared to its average volume of 513,497. PAR Technology has a twelve month low of $46.24 and a twelve month high of $82.24. The company has a market cap of $2.08 billion, a price-to-earnings ratio of -22.81 and a beta of 1.70. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.70 and a quick ratio of 1.49. The business has a 50 day moving average price of $63.51 and a 200 day moving average price of $63.11.

PAR Technology (NYSE:PAR - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The software maker reported $0.03 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $112.40 million for the quarter, compared to analyst estimates of $111.02 million. During the same quarter in the prior year, the firm earned ($0.23) earnings per share. The firm's revenue for the quarter was up 43.8% on a year-over-year basis. Equities research analysts forecast that PAR Technology will post -1.47 earnings per share for the current fiscal year.

Institutional Trading of PAR Technology

Institutional investors have recently modified their holdings of the business. Huntington National Bank boosted its position in PAR Technology by 66.2% during the second 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 boosted its position in PAR Technology by 8,616.7% during the first 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. boosted its position in PAR Technology by 68.6% during the second 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 boosted its position in PAR Technology by 996.6% during the first 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. bought a new stake in PAR Technology during the first quarter valued at $40,000.

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.