PAR Technology (PAR) Receives Stock Upgrade Amidst Financial Developments

PAR Technology Corporation, operating under ticker PAR, experienced a favorable upgrade from equity research analysts at StockNews.com. Having previously been rated as "sell," the technology firm's stock was uplifted to a more optimistic standing. This news arrives amidst a series of varied brokerage reports, reflecting the dynamic financial landscape in which PAR Technology operates.

Analyst Ratings and Price Targets

Several other financial institutions also weighed in on PAR's prospects. Stephens commenced coverage on PAR shares, setting an "equal weight" rating with a price target of $43.00. Furthermore, Craig Hallum elevated its price target from $42.00 to $50.00, endorsing the company with a "buy" rating. Similarly, Lake Street Capital increased their price objective from $39.00 to $45.00, and Needham & Company LLC from $43.00 to $47.00, both maintaining a "buy" stance. Jefferies Financial Group raised their price target from $35.00 to $45.00. Currently, based on aggregated data from MarketBeat, PAR garners an average rating of "Hold" with a consensus price target of $45.50.

Stock Performance and Earnings

PAR's shares witnessed an opening price of $34.53 on the upgrade announcement day. The company presents a debt-to-equity ratio of 1.10, coupled with a quick ratio of 1.99 and a current ratio of 2.31. Despite trading below its 50-day and 200-day moving averages of $37.59 and $35.86, respectively, PAR holds a market cap of approximately $947.68 million. The firm's past year performance shows a low and high of $21.26 and $46.63, illustrating the volatility inherent in the technology sector. The latest earnings report highlighted a quarterly EPS shortfall, with actual figures of ($0.65) versus the anticipated ($0.43). Total revenue for the quarter was reported at $100.54 million. PAR Technology's yearly EPS forecast is set at -2.05, reflecting challenges ahead.

Institutional Investments

Notable shifts in institutional investments have recently occurred. MFN Partners Management LP expanded its stake by 991.4%, rising to 1,091,404 shares valued roughly at $44,027,000. Other significant movements include acquisitions by Bank of Montreal Can and Gamco Investors INC. ET AL, while The Manufacturers Life Insurance Company increased its shareholding by 28.9%, and Norwood Investment Partners LP grew its position by 290.2%.

About PAR Technology Corporation

PAR, headquartered in New Hartford, New York, is a major provider of POS solutions to the restaurant and retail industries worldwide. The company has two primary business segments: Restaurant/Retail and Government. Within the Restaurant/Retail sphere, PAR offers a range of products including enterprise-grade loyalty and engagement solutions, omnichannel digital ordering, cloud-based POS systems, transaction processing services, and back-office software solutions.

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