PAR Technology (NYSE:PAR) Shares Up 11.7% – Here’s What Happened

PAR Technology Co. (NYSE:PAR)’s share price traded up 11.7% on Friday . The company traded as high as $66.49 and last traded at $67.82. 67,446 shares changed hands during trading, a decline of 86% from the average session volume of 468,660 shares. The stock had previously closed at $60.71.

Analyst Upgrades and Downgrades

PAR has been the topic of several recent research reports. The Goldman Sachs Group increased their target price on PAR Technology from $71.00 to $79.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Craig Hallum reaffirmed a “buy” rating on shares of PAR Technology in a research report on Friday. Benchmark reiterated a “buy” rating on shares of PAR Technology in a report on Friday. StockNews.com upgraded shares of PAR Technology to a “sell” rating in a report on Thursday, January 23rd. Finally, Needham & Company LLC reiterated a “buy” rating on shares of PAR Technology in a research note on Friday. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.25.

PAR Technology Trading Up 13.5 %

The company’s fifty day moving average price is $70.50 and its 200-day moving average price is $65.35. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of -275.50 and a beta of 2.22. 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 issued its quarterly earnings results on Friday, February 28th. The software maker reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.17). PAR Technology had a negative net margin of 0.66% and a negative return on equity of 8.99%. The company had revenue of $105.01 million for the quarter, compared to analyst estimates of $99.10 million. During the same quarter in the previous year, the company posted ($0.33) EPS. The company’s revenue for the quarter was up 50.2% compared to the same quarter last year. On average, research analysts expect that PAR Technology Co. will post -1.47 EPS for the current fiscal year.

Institutional Trading of PAR Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. lifted its holdings in shares of PAR Technology by 100.9% during the fourth quarter. Invesco Ltd. now owns 1,283,978 shares of the software maker’s stock worth $93,307,000 after purchasing an additional 644,920 shares during the period. Loomis Sayles & Co. L P purchased a new position in PAR Technology during the 4th quarter worth approximately $33,011,000. Hood River Capital Management LLC acquired a new stake in PAR Technology during the 4th quarter valued at approximately $30,392,000. TimesSquare Capital Management LLC purchased a new stake in shares of PAR Technology in the 3rd quarter valued at $14,398,000. Finally, Nuveen Asset Management LLC increased its stake in shares of PAR Technology by 194.2% in the fourth quarter. Nuveen Asset Management LLC now owns 400,251 shares of the software maker’s stock worth $29,086,000 after acquiring an additional 264,188 shares during the period.

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.