PAR Technology (NYSE:PAR) Share Price Crosses Above 200 Day Moving Average – Here’s Why

PAR Technology Co. (NYSE:PAR)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $60.48 and traded as high as $68.01. PAR Technology shares last traded at $67.80, with a volume of 526,600 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Craig Hallum boosted their target price on PAR Technology from $65.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Lake Street Capital boosted their price objective on shares of PAR Technology from $57.00 to $77.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Stephens lifted their target price on shares of PAR Technology from $83.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. The Goldman Sachs Group boosted 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. Finally, Benchmark lifted their price objective on PAR Technology from $69.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.25.

PAR Technology Price Performance

The company has a 50-day moving average price of $74.40 and a 200-day moving average price of $60.59. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of -271.19 and a beta of 2.21. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.91 and a current ratio of 2.13.

PAR Technology (NYSE:PAR) last posted its earnings results on Friday, November 8th. The software maker reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.01. PAR Technology had a negative return on equity of 8.99% and a negative net margin of 0.66%. The firm had revenue of $96.80 million for the quarter, compared to analyst estimates of $91.01 million. During the same period in the previous year, the company posted ($0.35) earnings per share. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. On average, equities research analysts expect that PAR Technology Co. will post -1.47 EPS for the current fiscal year.

Hedge Funds Weigh In On PAR Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank boosted its position in shares of PAR Technology by 25.5% during the second quarter. Amalgamated Bank now owns 1,166 shares of the software maker’s stock worth $55,000 after buying an additional 237 shares during the period. nVerses Capital LLC bought a new stake in PAR Technology in the 3rd quarter valued at approximately $125,000. Principal Financial Group Inc. acquired a new position in PAR Technology during the 2nd quarter worth approximately $211,000. Victory Capital Management Inc. grew its stake in shares of PAR Technology by 5.1% during 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 in the last quarter. Finally, RiverPark Advisors LLC raised its holdings in shares of PAR Technology by 21.3% in the third quarter. RiverPark Advisors LLC now owns 4,929 shares of the software maker’s stock valued at $257,000 after purchasing an additional 865 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.