PAR Technology (NYSE:PAR) Sets New 52-Week High – Time to Buy?

PAR Technology Co. (NYSE:PAR)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $62.40 and last traded at $61.87, with a volume of 115450 shares traded. The stock had previously closed at $60.93.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PAR shares. Benchmark reiterated a “buy” rating and set a $69.00 price objective on shares of PAR Technology in a research note on Friday, August 9th. Stephens increased their price target on PAR Technology from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. The Goldman Sachs Group raised their target price on PAR Technology from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. StockNews.com upgraded shares of PAR Technology to a “sell” rating in a research report on Wednesday, September 18th. Finally, Needham & Company LLC lifted their price target on PAR Technology from $60.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $64.17.

PAR Technology Trading Up 2.7 %

The business has a 50-day moving average price of $55.99 and a 200-day moving average price of $50.29. The firm has a market capitalization of $2.27 billion, a P/E ratio of -248.36 and a beta of 2.14. The company has a quick ratio of 2.80, a current ratio of 3.12 and a debt-to-equity ratio of 0.64.

PAR Technology (NYSE:PAR) last released its quarterly earnings results on Thursday, August 8th. The software maker reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $78.20 million for the quarter, compared to analyst estimates of $115.14 million. During the same period in the prior year, the business earned ($0.65) earnings per share. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. Analysts anticipate that PAR Technology Co. will post -1.67 earnings per share for the current year.

Hedge Funds Weigh In On PAR Technology

A number of large investors have recently modified their holdings of the business. Arcadia Investment Management Corp MI acquired a new stake in PAR Technology in the second quarter valued at $32,000. Amalgamated Bank increased its position in PAR Technology by 25.5% during the second quarter. Amalgamated Bank now owns 1,166 shares of the software maker’s stock worth $55,000 after buying an additional 237 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in PAR Technology in the first quarter valued at approximately $78,000. LRI Investments LLC bought a new position in shares of PAR Technology during the 1st quarter worth approximately $99,000. Finally, nVerses Capital LLC acquired a new position in shares of PAR Technology during the 3rd quarter worth approximately $125,000.

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.