PAR Technology (NYSE:PAR) Price Target Raised to $61.00

PAR Technology (NYSE:PARGet Free Report) had its price target hoisted by equities research analysts at Benchmark from $59.00 to $61.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Benchmark’s price objective points to a potential upside of 33.92% from the stock’s current price.

A number of other brokerages also recently commented on PAR. Needham & Company LLC restated a “buy” rating and issued a $53.00 target price on shares of PAR Technology in a research note on Friday, May 10th. StockNews.com upgraded shares of PAR Technology to a “sell” rating in a research note on Thursday, March 7th. Sidoti upgraded shares of PAR Technology from a “neutral” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Tuesday, March 12th. William Blair restated an “outperform” rating on shares of PAR Technology in a research note on Tuesday, March 12th. Finally, TheStreet raised shares of PAR Technology from a “d+” rating to a “c-” rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.63.

View Our Latest Research Report on PAR Technology

PAR Technology Stock Up 6.1 %

Shares of NYSE PAR opened at $45.55 on Tuesday. The firm’s 50-day moving average price is $44.02 and its 200-day moving average price is $43.58. The company has a current ratio of 2.07, a quick ratio of 1.81 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -17.72 and a beta of 2.13. PAR Technology has a 12-month low of $28.21 and a 12-month high of $50.00.

PAR Technology (NYSE:PARGet Free Report) last issued its quarterly earnings results on Thursday, May 9th. The software maker reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.07). The firm had revenue of $105.50 million for the quarter, compared to the consensus estimate of $111.00 million. PAR Technology had a negative net margin of 17.14% and a negative return on equity of 14.53%. On average, equities research analysts anticipate that PAR Technology will post -1.22 EPS for the current fiscal year.

Insider Activity at PAR Technology

In related news, CFO Bryan A. Menar sold 803 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $43.79, for a total transaction of $35,163.37. Following the completion of the sale, the chief financial officer now owns 54,601 shares of the company’s stock, valued at $2,390,977.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PAR Technology news, Director Douglas Gregory Rauch sold 4,500 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $42.04, for a total value of $189,180.00. Following the completion of the transaction, the director now owns 14,365 shares of the company’s stock, valued at $603,904.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Bryan A. Menar sold 803 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $43.79, for a total transaction of $35,163.37. Following the completion of the sale, the chief financial officer now owns 54,601 shares in the company, valued at approximately $2,390,977.79. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by corporate insiders.

Institutional Trading of PAR Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Research Global Investors increased its stake in shares of PAR Technology by 43.4% in the first quarter. Capital Research Global Investors now owns 3,530,843 shares of the software maker’s stock worth $155,670,000 after acquiring an additional 1,068,641 shares during the period. Vanguard Group Inc. grew its position in PAR Technology by 2.4% during the first quarter. Vanguard Group Inc. now owns 2,159,383 shares of the software maker’s stock valued at $97,950,000 after buying an additional 50,793 shares during the period. Progeny 3 Inc. grew its position in PAR Technology by 47.1% during the first quarter. Progeny 3 Inc. now owns 1,191,048 shares of the software maker’s stock valued at $54,026,000 after buying an additional 381,232 shares during the period. Newtyn Management LLC grew its position in PAR Technology by 9.2% during the third quarter. Newtyn Management LLC now owns 982,527 shares of the software maker’s stock valued at $37,867,000 after buying an additional 82,527 shares during the period. Finally, Bamco Inc. NY grew its position in PAR Technology by 1.0% during the first quarter. Bamco Inc. NY now owns 901,872 shares of the software maker’s stock valued at $40,909,000 after buying an additional 8,789 shares during the period.

About PAR Technology

(Get Free Report)

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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