PAR Technology (NYSE:PAR) Given New $77.00 Price Target at Lake Street Capital

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

A number of other equities analysts have also commented on the stock. Craig Hallum raised their price target on shares of PAR Technology from $65.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday. Needham & Company LLC increased their price objective 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 objective on PAR Technology from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Benchmark reiterated a “buy” rating and issued a $69.00 price objective on shares of PAR Technology in a research note on Friday, August 9th. Finally, Stephens increased their price objective on shares of PAR Technology from $70.00 to $83.00 and gave the stock an “overweight” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $75.88.

PAR Technology Price Performance

Shares of PAR stock opened at $75.35 on Monday. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -300.60 and a beta of 2.14. PAR Technology has a 12-month low of $33.13 and a 12-month high of $75.38. The firm has a fifty day moving average of $57.04 and a 200-day moving average of $51.02. The company has a quick ratio of 2.80, a current ratio of 3.12 and a debt-to-equity ratio of 0.64.

PAR Technology (NYSE:PAR) last issued its quarterly earnings results on Friday, November 8th. The software maker reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.01. The firm had revenue of $96.80 million during the quarter, compared to analysts’ expectations of $91.01 million. PAR Technology had a negative return on equity of 10.93% and a net margin of 0.44%. The business’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.35) earnings per share. On average, equities research analysts forecast that PAR Technology will post -1.67 earnings per share for the current year.

Institutional Investors Weigh In On PAR Technology

Several institutional investors and hedge funds have recently bought and sold shares of PAR. Capital Research Global Investors raised its stake in PAR Technology by 43.4% in the first quarter. Capital Research Global Investors now owns 3,530,843 shares of the software maker’s stock worth $155,670,000 after buying an additional 1,068,641 shares in the last quarter. Progeny 3 Inc. grew its stake in shares of PAR Technology by 47.1% in the 1st quarter. Progeny 3 Inc. now owns 1,191,048 shares of the software maker’s stock worth $54,026,000 after buying an additional 381,232 shares during the last quarter. TimesSquare Capital Management LLC purchased a new position in PAR Technology during the third quarter valued at $14,398,000. Magnolia Capital Advisors LLC purchased a new stake in PAR Technology during the 2nd quarter valued at about $3,881,000. Finally, Renaissance Technologies LLC grew its holdings in shares of PAR Technology by 252.0% during the second quarter. Renaissance Technologies LLC now owns 105,600 shares of the software maker’s stock valued at $4,973,000 after buying an additional 75,600 shares during the last quarter.

PAR Technology Company Profile

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.