PAR Technology (NYSE:PAR) Trading Up 8.7% – Here’s What Happened

PAR Technology Co. (NYSE:PAR)’s stock price rose 8.7% during mid-day trading on Friday . The stock traded as high as $72.33 and last traded at $72.33. Approximately 305,312 shares traded hands during trading, a decline of 10% from the average daily volume of 340,167 shares. The stock had previously closed at $66.53.

Analyst Ratings Changes

Several brokerages have commented on PAR. Benchmark reaffirmed a “buy” rating and set a $69.00 target price on shares of PAR Technology in a report on Friday, August 9th. The Goldman Sachs Group lifted their price objective on PAR Technology from $52.00 to $59.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Stephens raised their price target on shares of PAR Technology from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. StockNews.com raised shares of PAR Technology to a “sell” rating in a research note on Thursday. Finally, Jefferies Financial Group raised shares of PAR Technology from a “hold” rating to a “buy” rating and lifted their target price for the stock from $45.00 to $60.00 in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $64.17.

PAR Technology Stock Up 11.6 %

The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.80 and a current ratio of 3.12. The firm’s 50 day moving average price is $56.64 and its two-hundred day moving average price is $50.67. The company has a market cap of $2.69 billion, a P/E ratio of -290.64 and a beta of 2.14.

PAR Technology (NYSE:PAR) last posted its quarterly earnings results on Thursday, August 8th. The software maker reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.05). PAR Technology had a net margin of 0.44% and a negative return on equity of 10.93%. The company had revenue of $78.20 million during the quarter, compared to the consensus estimate of $115.14 million. During the same period last year, the firm posted ($0.65) earnings per share. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. Equities research analysts anticipate that PAR Technology Co. will post -1.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Research Global Investors grew its holdings in shares of PAR Technology by 43.4% during the first quarter. Capital Research Global Investors now owns 3,530,843 shares of the software maker’s stock valued at $155,670,000 after buying an additional 1,068,641 shares during the last quarter. Vanguard Group Inc. boosted its stake in PAR Technology by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 2,159,383 shares of the software maker’s stock valued at $97,950,000 after purchasing an additional 50,793 shares during the last quarter. Progeny 3 Inc. increased its holdings in PAR Technology by 10.9% during the 2nd quarter. Progeny 3 Inc. now owns 1,320,858 shares of the software maker’s stock worth $62,199,000 after purchasing an additional 129,810 shares in the last quarter. Royce & Associates LP raised its stake in shares of PAR Technology by 2.6% in the third quarter. Royce & Associates LP now owns 1,184,279 shares of the software maker’s stock worth $61,677,000 after purchasing an additional 30,000 shares during the last quarter. Finally, Reinhart Partners LLC. lifted its holdings in shares of PAR Technology by 6.4% in the third quarter. Reinhart Partners LLC. now owns 946,773 shares of the software maker’s stock valued at $49,308,000 after purchasing an additional 57,049 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.