PAR Technology (NYSE:PAR) Shares Gap Up – What’s Next?

PAR Technology Corporation (NYSE:PAR)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $33.17, but opened at $36.90. PAR Technology shares last traded at $38.30, with a volume of 153,517 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently commented on PAR shares. BTIG Research lowered their price objective on PAR Technology from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Friday. William Blair restated an “outperform” rating on shares of PAR Technology in a research report on Tuesday, October 14th. Needham & Company LLC cut their price objective on shares of PAR Technology from $90.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday. Benchmark decreased their target price on shares of PAR Technology from $92.00 to $77.00 and set a “buy” rating for the company in a research report on Tuesday, August 19th. Finally, The Goldman Sachs Group cut their price target on PAR Technology from $50.00 to $38.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $68.86.

PAR Technology Stock Up 12.4%

The business’s 50-day moving average price is $39.99 and its 200-day moving average price is $54.91. The firm has a market capitalization of $1.51 billion, a PE ratio of -16.58 and a beta of 1.63. The company has a quick ratio of 1.49, a current ratio of 1.70 and a debt-to-equity ratio of 0.43.

PAR Technology (NYSE:PAR) last posted its quarterly earnings results on Thursday, November 6th. The software maker reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). PAR Technology had a negative return on equity of 3.16% and a negative net margin of 20.64%.The company had revenue of $119.18 million during the quarter, compared to analyst estimates of $112.23 million. During the same period last year, the company posted ($0.09) earnings per share. The company’s revenue was up 23.1% compared to the same quarter last year. As a group, equities research analysts predict that PAR Technology Corporation will post -1.47 EPS for the current fiscal year.

Hedge Funds Weigh In On PAR Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank grew its holdings in shares of PAR Technology by 66.2% in the 2nd quarter. Huntington National Bank now owns 437 shares of the software maker’s stock worth $30,000 after purchasing an additional 174 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in PAR Technology by 8,616.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the software maker’s stock worth $32,000 after purchasing an additional 517 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of PAR Technology in the third quarter valued at $36,000. Advisors Asset Management Inc. raised its holdings in shares of PAR Technology by 68.6% in the second quarter. Advisors Asset Management Inc. now owns 563 shares of the software maker’s stock valued at $39,000 after buying an additional 229 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in PAR Technology by 232.4% during the 1st quarter. GAMMA Investing LLC now owns 698 shares of the software maker’s stock worth $43,000 after buying an additional 488 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.