The Goldman Sachs Group Forecasts Strong Price Appreciation for PAR Technology (NYSE:PAR) Stock

PAR Technology (NYSE:PAR) had its price target hoisted by analysts at The Goldman Sachs Group from $57.00 to $65.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the software maker’s stock. The Goldman Sachs Group’s price target would indicate a potential downside of 6.81% from the stock’s previous close.

A number of other equities analysts have also weighed in on the company. Benchmark reiterated a “buy” rating on shares of PAR Technology in a research report on Friday, February 28th. Craig Hallum reiterated a “buy” rating on shares of PAR Technology in a report on Friday, February 28th. Stephens reissued an “overweight” rating and issued a $90.00 target price on shares of PAR Technology in a research report on Friday, February 28th. Citigroup restated a “neutral” rating on shares of PAR Technology in a research report on Friday, February 28th. Finally, StockNews.com upgraded shares of PAR Technology to a “sell” rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $79.86.

PAR Technology Stock Up 5.2%

NYSE PAR opened at $69.75 on Monday. PAR Technology has a 12 month low of $41.86 and a 12 month high of $82.24. The company has a market capitalization of $2.82 billion, a P/E ratio of -278.99 and a beta of 1.76. The company’s 50 day simple moving average is $59.27 and its 200 day simple moving average is $67.22. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.13 and a quick ratio of 1.91.

PAR Technology (NYSE:PAR) last posted its quarterly earnings results on Friday, May 9th. The software maker reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.04. The company had revenue of $103.86 million for the quarter, compared to analysts’ expectations of $105.16 million. PAR Technology had a negative return on equity of 8.99% and a negative net margin of 0.66%. The firm’s revenue was up 48.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.36) earnings per share. Equities research analysts expect that PAR Technology will post -1.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PAR Technology

A number of institutional investors have recently modified their holdings of the stock. Proficio Capital Partners LLC purchased a new stake in shares of PAR Technology during the fourth quarter worth $1,796,000. Moody National Bank Trust Division increased its position in PAR Technology by 119.2% in the 4th quarter. Moody National Bank Trust Division now owns 24,278 shares of the software maker’s stock worth $1,764,000 after purchasing an additional 13,200 shares during the last quarter. Barclays PLC raised its stake in shares of PAR Technology by 431.3% during the 3rd quarter. Barclays PLC now owns 63,536 shares of the software maker’s stock worth $3,310,000 after purchasing an additional 51,578 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of PAR Technology during the 4th quarter valued at about $205,000. Finally, LPL Financial LLC lifted its holdings in shares of PAR Technology by 201.4% during the 4th quarter. LPL Financial LLC now owns 88,991 shares of the software maker’s stock valued at $6,467,000 after buying an additional 59,469 shares during the last quarter.

PAR Technology Company Profile

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.