Lake Street Capital Forecasts Strong Price Appreciation for PAR Technology (NYSE:PAR) Stock

PAR Technology (NYSE:PAR) had its price objective increased by Lake Street Capital from $57.00 to $77.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

A number of other equities research analysts also recently issued reports on PAR. Craig Hallum lifted their price target on shares of PAR Technology from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Monday. StockNews.com raised PAR Technology to a “sell” rating in a report on Thursday, November 7th. Needham & Company LLC upped their target price on PAR Technology from $66.00 to $90.00 and gave the company a “buy” rating in a report on Monday. The Goldman Sachs Group lifted their price target on PAR Technology from $52.00 to $59.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Finally, Jefferies Financial Group raised shares of PAR Technology from a “hold” rating to a “buy” rating and increased their price objective for the company from $45.00 to $60.00 in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PAR Technology has an average rating of “Moderate Buy” and an average price target of $77.38.

PAR Technology Trading Down 1.7 %

Shares of PAR stock opened at $73.00 on Monday. The business’s fifty day moving average price is $58.36 and its 200 day moving average price is $51.64. The firm has a market capitalization of $2.65 billion, a PE ratio of -291.99 and a beta of 2.14. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.13 and a quick ratio of 2.80. PAR Technology has a 1-year low of $34.87 and a 1-year high of $76.10.

PAR Technology (NYSE:PAR) last posted its quarterly earnings results on Friday, November 8th. The software maker reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. PAR Technology had a negative net margin of 0.66% and a negative return on equity of 8.99%. The business had revenue of $96.80 million for the quarter, compared to analysts’ expectations of $91.01 million. During the same period in the prior year, the company posted ($0.35) EPS. The business’s revenue for the quarter was down 9.6% on a year-over-year basis. As a group, sell-side analysts forecast that PAR Technology will post -1.67 EPS for the current fiscal year.

Institutional Investors Weigh In On PAR Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. Fred Alger Management LLC acquired a new stake in PAR Technology during the third quarter worth approximately $6,600,000. Verition Fund Management LLC acquired a new stake in shares of PAR Technology during the third quarter worth $1,328,000. Captrust Financial Advisors boosted its holdings in shares of PAR Technology by 0.9% during the third quarter. Captrust Financial Advisors now owns 127,241 shares of the software maker’s stock worth $6,627,000 after purchasing an additional 1,167 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of PAR Technology by 8.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 66,894 shares of the software maker’s stock valued at $3,484,000 after purchasing an additional 5,225 shares during the period. Finally, PEAK6 Investments LLC increased its stake in PAR Technology by 59.6% in the third quarter. PEAK6 Investments LLC now owns 83,850 shares of the software maker’s stock valued at $4,367,000 after purchasing an additional 31,328 shares during 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.