PAR Technology (NYSE:PAR) Price Target Cut to $60.00 by Analysts at BTIG Research

PAR Technology (NYSE:PAR) had its target price cut by BTIG Research from $65.00 to $60.00 in a research note published on Friday,Benzinga reports. They currently have a buy rating on the software maker’s stock.

A number of other brokerages have also recently weighed in on PAR. Weiss Ratings restated a “sell (d)” rating on shares of PAR Technology in a research report on Wednesday, October 8th. William Blair restated an “outperform” rating on shares of PAR Technology in a research report on Tuesday, October 14th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of PAR Technology in a research report on Friday, July 11th. The Goldman Sachs Group cut their price objective on PAR Technology from $50.00 to $38.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Finally, Benchmark lowered their target price on PAR Technology from $92.00 to $77.00 and set a “buy” rating on the stock in a report on Tuesday, August 19th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, PAR Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.86.

PAR Technology Price Performance

Shares of PAR stock traded up $5.44 during midday trading on Friday, reaching $38.61. 1,758,363 shares of the company traded hands, compared to its average volume of 599,746. The firm’s 50 day simple moving average is $39.74 and its two-hundred day simple moving average is $54.79. The firm has a market cap of $1.57 billion, a PE ratio of -17.16 and a beta of 1.63. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.70 and a quick ratio of 1.49. PAR Technology has a 1-year low of $32.56 and a 1-year high of $82.24.

PAR Technology (NYSE:PAR) last released its quarterly earnings data on Thursday, November 6th. The software maker reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). The firm had revenue of $119.18 million during the quarter, compared to analysts’ expectations of $112.23 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 23.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.09) earnings per share. On average, equities research analysts expect that PAR Technology will post -1.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Huntington National Bank grew its position in shares of PAR Technology by 66.2% in the second quarter. Huntington National Bank now owns 437 shares of the software maker’s stock valued at $30,000 after purchasing an additional 174 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in PAR Technology by 8,616.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the software maker’s stock valued at $32,000 after buying an additional 517 shares during the period. Manning & Napier Advisors LLC acquired a new position in shares of PAR Technology during the 3rd quarter valued at about $36,000. Advisors Asset Management Inc. lifted its holdings 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 worth $39,000 after acquiring an additional 229 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of PAR Technology by 232.4% in the first quarter. GAMMA Investing LLC now owns 698 shares of the software maker’s stock worth $43,000 after acquiring an additional 488 shares during the last quarter.

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.