Analysts Set PAR Technology Co. (NYSE:PAR) Price Target at $31.50

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PAR Technology Co. (NYSE:PAR) has been given a consensus recommendation of “Buy” by the six ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $31.50.

A number of equities research analysts have issued reports on PAR shares. Sidoti raised PAR Technology from a “neutral” rating to a “buy” rating in a research report on Friday, July 26th. Zacks Investment Research downgraded PAR Technology from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Jefferies Financial Group started coverage on PAR Technology in a research report on Wednesday, May 15th. They set a “buy” rating and a $32.00 price target for the company.

PAR stock opened at $22.86 on Friday. The firm’s 50-day moving average price is $25.96. PAR Technology has a 12-month low of $15.22 and a 12-month high of $29.77. The company has a debt-to-equity ratio of 1.10, a quick ratio of 3.09 and a current ratio of 3.76. The stock has a market capitalization of $406.45 million, a P/E ratio of -73.74 and a beta of -0.23.

PAR Technology (NYSE:PAR) last posted its quarterly earnings results on Tuesday, August 6th. The software maker reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.06). PAR Technology had a negative net margin of 14.68% and a negative return on equity of 19.16%. The firm had revenue of $44.25 million for the quarter, compared to analysts’ expectations of $48.05 million. Equities analysts predict that PAR Technology will post -0.72 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of PAR. PenderFund Capital Management Ltd. acquired a new position in shares of PAR Technology during the second quarter worth about $3,645,000. Cadence Capital Management LLC acquired a new position in shares of PAR Technology during the second quarter worth about $2,750,000. CIBC Private Wealth Group LLC acquired a new position in shares of PAR Technology during the first quarter worth about $1,810,000. Wells Fargo & Company MN lifted its stake in shares of PAR Technology by 202.3% during the second quarter. Wells Fargo & Company MN now owns 50,049 shares of the software maker’s stock worth $1,411,000 after purchasing an additional 33,495 shares in the last quarter. Finally, Wedbush Securities Inc. lifted its stake in shares of PAR Technology by 6.4% during the first quarter. Wedbush Securities Inc. now owns 371,879 shares of the software maker’s stock worth $9,096,000 after purchasing an additional 22,247 shares in the last quarter. Institutional investors own 47.69% of the company’s stock.

About PAR Technology

PAR Technology Corporation, together with its subsidiaries, provides management technology solutions worldwide. The company operates through two segments, Restaurant/Retail and Government. The Restaurant/Retail segment offers point-of-sale (POS) technology solutions, including cloud-based, software-as-a-service Brink and on-premise POS PixelPoint solutions, and its POS hardware platforms, as well as installation, technical, and maintenance support services.

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