Benchmark Upgrades PAR Technology (NYSE:PAR) to “Buy”

PAR Technology (NYSE:PARGet Free Report) was upgraded by investment analysts at Benchmark from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm presently has a $59.00 target price on the software maker’s stock. Benchmark’s price objective would indicate a potential upside of 23.02% from the stock’s previous close.

A number of other analysts also recently commented on PAR. William Blair reiterated an “outperform” rating on shares of PAR Technology in a report on Tuesday, March 12th. StockNews.com upgraded PAR Technology to a “sell” rating in a report on Thursday, March 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $53.00 target price on shares of PAR Technology in a report on Friday, May 10th. TheStreet raised shares of PAR Technology from a “d+” rating to a “c-” rating in a research note on Thursday, February 15th. Finally, Sidoti upgraded shares of PAR Technology from a “neutral” rating to a “buy” rating and set a $61.00 target price for the company in a report on Tuesday, March 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.88.

View Our Latest Research Report on PAR

PAR Technology Stock Down 3.4 %

Shares of NYSE:PAR opened at $47.96 on Wednesday. The company’s fifty day moving average is $43.27 and its two-hundred day moving average is $42.59. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.81 and a current ratio of 2.07. PAR Technology has a 1-year low of $28.21 and a 1-year high of $50.00. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of -18.66 and a beta of 2.00.

PAR Technology (NYSE:PARGet Free Report) last issued its earnings results on Tuesday, February 27th. The software maker reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.05). The company had revenue of $107.71 million during the quarter, compared to analyst estimates of $106.12 million. PAR Technology had a negative return on equity of 14.53% and a negative net margin of 17.14%. Equities analysts anticipate that PAR Technology will post -1.15 EPS for the current year.

Insider Transactions at PAR Technology

In other PAR Technology news, Director Douglas Gregory Rauch sold 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $42.04, for a total value of $189,180.00. Following the sale, the director now owns 14,365 shares of the company’s stock, valued at approximately $603,904.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Bryan A. Menar sold 803 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $43.79, for a total transaction of $35,163.37. Following the completion of the transaction, the chief financial officer now owns 54,601 shares of the company’s stock, valued at $2,390,977.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas Gregory Rauch sold 4,500 shares of PAR Technology stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $42.04, for a total value of $189,180.00. Following the sale, the director now directly owns 14,365 shares in the company, valued at $603,904.60. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by corporate insiders.

Institutional Trading of PAR Technology

Hedge funds have recently modified their holdings of the company. Capital Research Global Investors increased its position 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 purchasing an additional 1,068,641 shares during the period. Vanguard Group Inc. boosted its stake in PAR Technology by 2.4% during the first quarter. Vanguard Group Inc. now owns 2,159,383 shares of the software maker’s stock worth $97,950,000 after buying an additional 50,793 shares in the last quarter. Progeny 3 Inc. increased its holdings in PAR Technology by 47.1% in the 1st quarter. Progeny 3 Inc. now owns 1,191,048 shares of the software maker’s stock valued at $54,026,000 after buying an additional 381,232 shares during the period. Newtyn Management LLC raised its stake in shares of PAR Technology by 9.2% in the 3rd quarter. Newtyn Management LLC now owns 982,527 shares of the software maker’s stock valued at $37,867,000 after buying an additional 82,527 shares in the last quarter. Finally, Bamco Inc. NY lifted its holdings in shares of PAR Technology by 1.0% during the 1st quarter. Bamco Inc. NY now owns 901,872 shares of the software maker’s stock worth $40,909,000 after acquiring an additional 8,789 shares during the period.

About PAR Technology

(Get Free Report)

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.

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Analyst Recommendations for PAR Technology (NYSE:PAR)

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