Stephens Initiates Coverage on PAR Technology (NYSE:PAR)

Analysts at Stephens began coverage on shares of PAR Technology (NYSE:PAR) in a research report issued to clients and investors on Friday, Benzinga reports. The firm set an “equal weight” rating and a $25.00 price target on the software maker’s stock. Stephens‘s price target points to a potential upside of 15.30% from the stock’s current price.

Several other research firms also recently issued reports on PAR. JPMorgan Chase & Co. raised their price target on shares of PAR Technology from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, November 6th. BTIG Research cut their price target on shares of PAR Technology from $45.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Weiss Ratings raised shares of PAR Technology from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 27th. Finally, Needham & Company LLC increased their price objective on PAR Technology from $25.00 to $30.00 and gave the company a “buy” rating in a report on Friday, November 6th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, PAR Technology currently has an average rating of “Hold” and an average price target of $23.06.

PAR Technology Trading Down 2.6%

PAR Technology stock opened at $21.68 on Friday. The business has a 50 day moving average of $16.99 and a 200-day moving average of $16.85. PAR Technology has a 1 year low of $11.59 and a 1 year high of $40.54. The company has a quick ratio of 1.89, a current ratio of 2.07 and a debt-to-equity ratio of 0.52.

PAR Technology (NYSE:PAR) last posted its earnings results on Thursday, November 5th. The software maker reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. PAR Technology had a negative net margin of 12.24% and a negative return on equity of 0.69%. The business had revenue of $137.11 million for the quarter, compared to the consensus estimate of $129.79 million. During the same period last year, the company earned $0.06 EPS. The firm’s revenue was up 15.0% compared to the same quarter last year. On average, analysts anticipate that PAR Technology will post -0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of PAR Technology during the second quarter worth $70,563,000. Progeny 3 Inc. boosted its position in PAR Technology by 5.6% during the first quarter. Progeny 3 Inc. now owns 2,170,808 shares of the software maker’s stock valued at $28,937,000 after acquiring an additional 114,500 shares during the last quarter. Bandera Partners LLC bought a new stake in PAR Technology during the first quarter valued at $9,331,000. Visionary Wealth Advisors bought a new stake in PAR Technology during the second quarter valued at $6,844,000. Finally, Rice Hall James & Associates LLC acquired a new stake in PAR Technology during the 2nd quarter worth about $6,601,000.

About PAR Technology

PAR Technology Corporation provides technology products and services for restaurants and other foodservice businesses. Its offerings include point-of-sale systems, cloud-based software, payment solutions, digital ordering tools, and guest-engagement and loyalty programs designed to help businesses manage operations and customer interactions. The company’s portfolio includes Brink POS, a cloud-based point-of-sale platform, and Punchh, a guest engagement and loyalty platform. PAR also provides hardware and technology services, serving restaurant operators in the United States and international markets.