PAR Technology (NYSE:PAR) Given New $27.00 Price Target at The Goldman Sachs Group
PAR Technology (NYSE:PAR - Get Rating) had its price target decreased by investment analysts at The Goldman Sachs Group from $31.00 to $27.00 in a research report issued on Monday, Benzinga reports. The firm presently has a "neutral" rating on the software maker's stock. The Goldman Sachs Group's price objective points to a potential upside of 0.26% from the stock's previous close.
PAR has been the topic of a number of other research reports. Needham & Company LLC dropped their price objective on PAR Technology from $53.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, November 10th. BTIG Research dropped their price objective on PAR Technology from $60.00 to $46.00 and set a "buy" rating on the stock in a report on Wednesday, November 9th. Craig Hallum dropped their price objective on PAR Technology to $35.00 in a report on Tuesday, November 15th. Finally, StockNews.com assumed coverage on PAR Technology in a report on Wednesday, October 12th. They issued a "sell" rating on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $35.60.
PAR Technology Stock Down 3.3 %
PAR stock traded down $0.93 during mid-day trading on Monday, reaching $26.93. The company had a trading volume of 3,184 shares, compared to its average volume of 270,150. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.94 and a current ratio of 3.55. The company has a market capitalization of $734.92 million, a price-to-earnings ratio of -8.83 and a beta of 1.69. The firm has a fifty day simple moving average of $24.55 and a 200 day simple moving average of $31.56. PAR Technology has a fifty-two week low of $20.37 and a fifty-two week high of $50.59.
PAR Technology (NYSE:PAR - Get Rating) last released its quarterly earnings data on Wednesday, November 9th. The software maker reported ($0.57) EPS for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.04). PAR Technology had a negative net margin of 23.98% and a negative return on equity of 15.29%. The business had revenue of $92.77 million during the quarter, compared to analysts' expectations of $83.81 million. Analysts forecast that PAR Technology will post -2.09 earnings per share for the current fiscal year.
Institutional Trading of PAR Technology
A number of hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its position in PAR Technology by 1.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,139,470 shares of the software maker's stock worth $117,699,000 after acquiring an additional 42,695 shares during the period. MFN Partners Management LP lifted its position in PAR Technology by 70.7% during the 2nd quarter. MFN Partners Management LP now owns 1,862,957 shares of the software maker's stock worth $69,842,000 after acquiring an additional 771,553 shares during the period. Vanguard Group Inc. lifted its position in PAR Technology by 7.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,527,038 shares of the software maker's stock worth $45,094,000 after acquiring an additional 108,118 shares during the period. The Manufacturers Life Insurance Company lifted its position in PAR Technology by 28.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,021,438 shares of the software maker's stock worth $41,205,000 after acquiring an additional 228,880 shares during the period. Finally, Royce & Associates LP lifted its position in PAR Technology by 3.3% during the 2nd quarter. Royce & Associates LP now owns 922,079 shares of the software maker's stock worth $34,569,000 after acquiring an additional 29,400 shares during the period.
About PAR Technology
PAR Technology Corporation, together with its subsidiaries, provides technology solutions to the restaurant and retail industries worldwide. The company operates in two segments, Restaurant/Retail and Government. The Restaurant/Retail segment offers point-of-sale (POS) technology solutions, including Brink POS, an open cloud solution that integrates with third-party products and in-house systems; Punchh, an enterprise-grade customer loyalty and engagement solution for restaurant and convenience store brands; Data Central, a cloud software solution for back-office applications; PAR Payment Services, a merchant services offering; POS integrated solutions for wireless headsets for drive-thru order-taking; and the PAR Infinity, PAR Phase, PAR Helix, and the EverServ 8000 series platform.
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