PAR Technology (NYSE:PAR) Hits New 52-Week High - Here's What Happened

PAR Technology Co. (NYSE:PAR - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $62.40 and last traded at $61.87, with a volume of 115450 shares traded. The stock had previously closed at $60.93.

Analyst Ratings Changes

PAR has been the topic of a number of research analyst reports. Stephens raised their price target on PAR Technology from $65.00 to $70.00 and gave the company an "overweight" rating in a report on Friday, October 18th. Needham & Company LLC raised their price target on shares of PAR Technology from $60.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. StockNews.com upgraded shares of PAR Technology to a "sell" rating in a report on Wednesday, September 18th. Benchmark reiterated a "buy" rating and issued a $69.00 price target on shares of PAR Technology in a research report on Friday, August 9th. Finally, The Goldman Sachs Group boosted their target price on PAR Technology from $52.00 to $59.00 and gave the stock a "neutral" rating in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $64.17.

PAR Technology Trading Up 2.7 %

The stock's 50 day moving average is $55.99 and its 200-day moving average is $50.29. The company has a current ratio of 3.12, a quick ratio of 2.80 and a debt-to-equity ratio of 0.64. The company has a market cap of $2.27 billion, a P/E ratio of -248.36 and a beta of 2.14.

PAR Technology (NYSE:PAR - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The software maker reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.05). The company had revenue of $78.20 million for the quarter, compared to the consensus estimate of $115.14 million. PAR Technology had a net margin of 0.44% and a negative return on equity of 10.93%. The company's quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.65) EPS. Research analysts anticipate that PAR Technology Co. will post -1.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PAR Technology

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of PAR Technology by 9.0% during the 4th quarter. Vanguard Group Inc. now owns 2,108,590 shares of the software maker's stock worth $91,808,000 after purchasing an additional 173,575 shares during the period. BNP Paribas Financial Markets boosted its position in PAR Technology by 87.6% during the first quarter. BNP Paribas Financial Markets now owns 13,367 shares of the software maker's stock worth $606,000 after purchasing an additional 6,242 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in PAR Technology during the 1st quarter valued at about $242,000. Central Pacific Bank Trust Division purchased a new stake in shares of PAR Technology in the first quarter valued at about $78,000. Finally, Swiss National Bank grew its position in shares of PAR Technology by 2.2% in the first quarter. Swiss National Bank now owns 55,300 shares of the software maker's stock valued at $2,508,000 after purchasing an additional 1,200 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.

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