William Blair Reaffirms "Outperform" Rating for PAR Technology (NYSE:PAR)

Key Points

• William Blair has reaffirmed an "outperform" rating for PAR Technology, indicating confidence in the stock's potential growth.
• PAR Technology recently saw its stock price target adjusted by various analysts, with BTIG Research setting it at $65.00, while Goldman Sachs reduced it to $38.00.
• The company reported a 43.8% increase in revenue year-over-year, despite missing EPS estimates with a reported $0.03 earnings per share.

PAR Technology (NYSE:PAR - Get Free Report)'s stock had its "outperform" rating reaffirmed by equities researchers at William Blair in a research note issued to investors on Tuesday,RTT News reports.

Other analysts have also recently issued research reports about the company. BTIG Research raised PAR Technology from a "neutral" rating to a "buy" rating and set a $65.00 price objective for the company in a research report on Friday, August 15th. The Goldman Sachs Group cut their price objective on PAR Technology from $50.00 to $38.00 and set a "neutral" rating on the stock in a report on Monday. Benchmark reduced their price objective on PAR Technology from $92.00 to $77.00 and set a "buy" rating for the company in a research note on Tuesday, August 19th. Needham & Company LLC restated a "buy" rating and issued a $90.00 price objective on shares of PAR Technology in a research note on Friday, July 11th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of PAR Technology in a research note on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, PAR Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.57.

PAR Technology Stock Down 0.4%

PAR Technology stock opened at $36.06 on Tuesday. 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 stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -16.03 and a beta of 1.65. PAR Technology has a 1-year low of $35.97 and a 1-year high of $82.24. The business has a fifty day moving average price of $46.13 and a 200-day moving average price of $57.50.

PAR Technology (NYSE:PAR - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $112.40 million during the quarter, compared to analyst estimates 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 revenue for the quarter was up 43.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.23) EPS. Equities research analysts forecast that PAR Technology will post -1.47 EPS for the current fiscal year.

Hedge Funds Weigh In On PAR Technology

A number of institutional investors have recently modified their holdings of the stock. ABS Direct Equity Fund LLC raised its stake in shares of PAR Technology by 25.0% during the 3rd quarter. ABS Direct Equity Fund LLC now owns 75,000 shares of the software maker's stock valued at $2,968,000 after buying an additional 15,000 shares during the last quarter. Corient Private Wealth LLC increased its stake in shares of PAR Technology by 26.6% in the 2nd quarter. Corient Private Wealth LLC now owns 40,285 shares of the software maker's stock valued at $2,795,000 after purchasing an additional 8,462 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of PAR Technology by 11.6% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 13,951 shares of the software maker's stock valued at $970,000 after purchasing an additional 1,451 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of PAR Technology by 278.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,115 shares of the software maker's stock valued at $216,000 after purchasing an additional 2,291 shares in the last quarter. Finally, SkyView Investment Advisors LLC increased its stake in shares of PAR Technology by 3.3% in the 2nd quarter. SkyView Investment Advisors LLC now owns 16,915 shares of the software maker's stock valued at $1,153,000 after purchasing an additional 548 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.

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