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

PAR Technology (NYSE:PAR) had its price objective boosted by stock analysts at The Goldman Sachs Group from $71.00 to $79.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the software maker’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 0.60% from the stock’s current price.

Several other research analysts also recently weighed in on PAR. Craig Hallum lifted their target price on PAR Technology from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Lake Street Capital boosted their price objective on shares of PAR Technology from $57.00 to $77.00 and gave the company a “buy” rating in a research note on Monday, November 11th. StockNews.com upgraded shares of PAR Technology to a “sell” rating in a research report on Thursday, November 7th. Jefferies Financial Group raised shares of PAR Technology from a “hold” rating to a “buy” rating and lifted their target price for the company from $45.00 to $60.00 in a report on Monday, August 12th. Finally, Stephens increased their price target on shares of PAR Technology from $83.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. 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. Based on data from MarketBeat.com, PAR Technology has an average rating of “Moderate Buy” and an average target price of $79.25.

PAR Technology Price Performance

Shares of PAR opened at $78.53 on Monday. The stock has a market cap of $2.85 billion, a PE ratio of -314.11 and a beta of 2.20. PAR Technology has a 1-year low of $37.74 and a 1-year high of $82.24. The firm has a fifty day moving average price of $64.47 and a 200 day moving average price of $54.98. 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 data on Friday, November 8th. The software maker reported ($0.09) EPS for the quarter, beating 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 company had revenue of $96.80 million for the quarter, compared to analyst estimates of $91.01 million. During the same period in the previous year, the business posted ($0.35) earnings per share. PAR Technology’s quarterly revenue was down 9.6% on a year-over-year basis. As a group, sell-side analysts anticipate that PAR Technology will post -1.56 EPS for the current year.

Institutional Investors Weigh In On PAR Technology

Institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in PAR Technology by 5.1% in the third quarter. Victory Capital Management Inc. now owns 4,524 shares of the software maker’s stock valued at $236,000 after purchasing an additional 219 shares during the last quarter. Amalgamated Bank increased its holdings in PAR Technology by 25.5% during the 2nd quarter. Amalgamated Bank now owns 1,166 shares of the software maker’s stock valued at $55,000 after acquiring an additional 237 shares in the last quarter. Inspire Investing LLC raised its position in PAR Technology by 6.1% during the third quarter. Inspire Investing LLC now owns 7,935 shares of the software maker’s stock worth $413,000 after acquiring an additional 454 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of PAR Technology in the second quarter valued at about $32,000. Finally, RiverPark Advisors LLC grew its position in shares of PAR Technology by 21.3% in the third quarter. RiverPark Advisors LLC now owns 4,929 shares of the software maker’s stock valued at $257,000 after purchasing an additional 865 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.