PAR Technology (NYSE:PAR) Trading 11.7% Higher - Here's Why

PAR Technology Co. (NYSE:PAR - Get Free Report) traded up 11.7% during trading on Friday . The stock traded as high as $66.49 and last traded at $67.82. 67,446 shares were traded during trading, a decline of 86% from the average session volume of 468,660 shares. The stock had previously closed at $60.71.

Analysts Set New Price Targets

PAR has been the subject of several research analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $90.00 target price on shares of PAR Technology in a research report on Friday, February 28th. Craig Hallum restated a "buy" rating on shares of PAR Technology in a research report on Friday, February 28th. The Goldman Sachs Group upped their target price on shares of PAR Technology from $71.00 to $79.00 and gave the stock a "neutral" rating in a research report on Monday, December 2nd. StockNews.com upgraded PAR Technology to a "sell" rating in a research report on Monday. Finally, Benchmark reaffirmed a "buy" rating on shares of PAR Technology in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, PAR Technology has a consensus rating of "Moderate Buy" and an average target price of $79.25.

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PAR Technology Stock Down 2.6 %

The company has a current ratio of 2.13, a quick ratio of 1.91 and a debt-to-equity ratio of 0.67. The stock has a 50 day simple moving average of $69.77 and a 200 day simple moving average of $65.82. The firm has a market capitalization of $2.49 billion, a PE ratio of -257.69 and a beta of 2.22.

PAR Technology (NYSE:PAR - Get Free Report) last issued its earnings results on Friday, February 28th. The software maker reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.17). PAR Technology had a negative return on equity of 8.99% and a negative net margin of 0.66%. The firm had revenue of $105.01 million during the quarter, compared to analysts' expectations of $99.10 million. During the same period in the previous year, the firm earned ($0.33) earnings per share. The firm's quarterly revenue was up 50.2% compared to the same quarter last year. As a group, sell-side analysts forecast that PAR Technology Co. will post -1.47 earnings per share for the current year.

Institutional Trading of PAR Technology

A number of hedge funds have recently modified their holdings of PAR. The Manufacturers Life Insurance Company raised its holdings in PAR Technology by 1.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 17,303 shares of the software maker's stock worth $1,257,000 after buying an additional 168 shares during the last quarter. Victory Capital Management Inc. raised its holdings in PAR Technology by 5.1% in the 3rd quarter. Victory Capital Management Inc. now owns 4,524 shares of the software maker's stock worth $236,000 after acquiring an additional 219 shares during the last quarter. Signaturefd LLC lifted its position in PAR Technology by 85.6% in the 4th quarter. Signaturefd LLC now owns 605 shares of the software maker's stock valued at $44,000 after acquiring an additional 279 shares in the last quarter. US Bancorp DE boosted its stake in PAR Technology by 104.3% during the 4th quarter. US Bancorp DE now owns 668 shares of the software maker's stock valued at $49,000 after purchasing an additional 341 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its holdings in shares of PAR Technology by 7.4% in the 4th quarter. Stratos Wealth Partners LTD. now owns 4,966 shares of the software maker's stock worth $361,000 after purchasing an additional 343 shares in 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.