PAR Technology (NYSE:PAR) Reaches New 1-Year High on Strong Earnings

PAR Technology Co. (NYSE:PAR) shares reached a new 52-week high during mid-day trading on Monday following a stronger than expected earnings report. The company traded as high as $75.00 and last traded at $75.00, with a volume of 431 shares trading hands. The stock had previously closed at $74.24.

The software maker reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.01. PAR Technology had a net margin of 0.44% and a negative return on equity of 10.93%. The business had revenue of $96.80 million during the quarter, compared to analyst estimates of $91.01 million. During the same period last year, the business posted ($0.35) earnings per share. PAR Technology’s quarterly revenue was down 9.6% compared to the same quarter last year.

Analyst Upgrades and Downgrades

PAR has been the subject of several research analyst reports. Stephens raised their price objective on shares of PAR Technology from $70.00 to $83.00 and gave the stock an “overweight” rating in a report on Monday. Jefferies Financial Group raised shares of PAR Technology from a “hold” rating to a “buy” rating and raised their target price for the company from $45.00 to $60.00 in a research note on Monday, August 12th. Needham & Company LLC raised their target price on shares of PAR Technology from $66.00 to $90.00 and gave the company a “buy” rating in a research note on Monday. Lake Street Capital raised their target price on shares of PAR Technology from $57.00 to $77.00 and gave the company a “buy” rating in a research note on Monday. Finally, The Goldman Sachs Group raised their target price on shares of PAR Technology from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, PAR Technology presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Institutional Investors Weigh In On PAR Technology

Large investors have recently added to or reduced their stakes in the stock. Castleark Management LLC grew its position in PAR Technology by 59.7% in the 1st quarter. Castleark Management LLC now owns 79,360 shares of the software maker’s stock worth $3,600,000 after purchasing an additional 29,680 shares during the period. Magnolia Capital Advisors LLC bought a new stake in PAR Technology in the 2nd quarter worth approximately $3,881,000. Capital Research Global Investors grew its position in PAR Technology by 43.4% in the 1st quarter. Capital Research Global Investors now owns 3,530,843 shares of the software maker’s stock worth $155,670,000 after purchasing an additional 1,068,641 shares during the period. Harbor Capital Advisors Inc. grew its position in PAR Technology by 219.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 41,182 shares of the software maker’s stock worth $1,939,000 after purchasing an additional 28,273 shares during the period. Finally, Resolute Capital Asset Partners LLC grew its position in PAR Technology by 33.3% in the 2nd quarter. Resolute Capital Asset Partners LLC now owns 60,000 shares of the software maker’s stock worth $2,825,000 after purchasing an additional 15,000 shares during the period.

PAR Technology Stock Performance

The business’s 50-day simple moving average is $57.04 and its 200 day simple moving average is $51.02. The firm has a market cap of $2.73 billion, a P/E ratio of -300.63 and a beta of 2.14. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.80 and a current ratio of 3.12.

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.