Zacks: PAR Technology Co. (PAR) Given Average Recommendation of “Strong Buy” by Brokerages

PAR Technology Co. (NYSE:PAR) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Analysts have set a 12 month consensus target price of $31.00 for the company and are anticipating that the company will post ($0.10) EPS for the current quarter, according to Zacks. Zacks has also given PAR Technology an industry rank of 51 out of 255 based on the ratings given to its competitors.

A number of analysts recently commented on PAR shares. ValuEngine upgraded PAR Technology from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Roth Capital initiated coverage on PAR Technology in a research note on Tuesday, February 5th. They issued a “buy” rating and a $31.00 price objective on the stock.

A number of institutional investors have recently added to or reduced their stakes in PAR. Nantahala Capital Management LLC lifted its position in PAR Technology by 403.9% during the 4th quarter. Nantahala Capital Management LLC now owns 556,799 shares of the software maker’s stock worth $12,110,000 after acquiring an additional 446,295 shares in the last quarter. Kavi Asset Management LP purchased a new stake in PAR Technology during the 3rd quarter worth approximately $3,640,000. Thomson Horstmann & Bryant Inc. increased its holdings in PAR Technology by 20.6% during the 4th quarter. Thomson Horstmann & Bryant Inc. now owns 707,913 shares of the software maker’s stock worth $15,397,000 after purchasing an additional 121,163 shares during the last quarter. Bamco Inc. NY purchased a new stake in PAR Technology during the 3rd quarter worth approximately $2,518,000. Finally, Northern Trust Corp increased its holdings in PAR Technology by 215.1% during the 2nd quarter. Northern Trust Corp now owns 146,871 shares of the software maker’s stock worth $2,596,000 after purchasing an additional 100,259 shares during the last quarter. 47.85% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE PAR traded down $0.47 during mid-day trading on Friday, hitting $24.60. 58,566 shares of the company were exchanged, compared to its average volume of 75,462. PAR Technology has a 1-year low of $10.22 and a 1-year high of $28.53. The company has a market cap of $399.82 million, a PE ratio of 94.62 and a beta of 0.01.

PAR Technology (NYSE:PAR) last released its earnings results on Thursday, March 14th. The software maker reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.07). PAR Technology had a negative net margin of 11.06% and a negative return on equity of 1.74%. The business had revenue of $46.65 million during the quarter, compared to analyst estimates of $44.92 million. On average, research analysts expect that PAR Technology will post -0.21 EPS for the current year.

PAR Technology Company Profile

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 cloud and on-premise software applications and hardware platforms, as well as related installation, technical, and maintenance support services.

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