PAR Technology (NYSE:PAR) Price Target Cut to $55.00 by Analysts at Needham & Company LLC

PAR Technology (NYSE:PAR) had its price objective cut by Needham & Company LLC from $90.00 to $55.00 in a report issued on Friday morning,Benzinga reports. They currently have a buy rating on the software maker’s stock.

A number of other analysts have also recently commented on the company. William Blair reaffirmed an “outperform” rating on shares of PAR Technology in a research report on Tuesday, October 14th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PAR Technology in a report on Wednesday, October 8th. Benchmark cut their price target on shares of PAR Technology from $92.00 to $77.00 and set a “buy” rating on the stock in a report on Tuesday, August 19th. BTIG Research decreased their price objective on shares of PAR Technology from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Friday. Finally, The Goldman Sachs Group cut their price objective on shares of PAR Technology from $50.00 to $38.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, PAR Technology has an average rating of “Moderate Buy” and a consensus price target of $68.86.

PAR Technology Stock Performance

PAR stock traded up $5.44 during trading on Friday, reaching $38.61. The company had a trading volume of 1,758,363 shares, compared to its average volume of 599,746. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -17.16 and a beta of 1.63. PAR Technology has a twelve month low of $32.56 and a twelve month high of $82.24. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.49 and a current ratio of 1.70. The firm has a 50-day simple moving average of $39.74 and a 200-day simple moving average of $54.79.

PAR Technology (NYSE:PAR) last issued its quarterly earnings results on Thursday, November 6th. The software maker reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). PAR Technology had a negative net margin of 20.64% and a negative return on equity of 3.16%. The company had revenue of $119.18 million for the quarter, compared to analyst estimates of $112.23 million. During the same quarter in the previous year, the company posted ($0.09) EPS. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. As a group, sell-side analysts expect that PAR Technology will post -1.47 earnings per share for the current year.

Institutional Investors Weigh In On PAR Technology

A number of institutional investors have recently modified their holdings of PAR. Synovus Financial Corp acquired a new position in PAR Technology in the 3rd quarter worth about $757,000. CenterBook Partners LP increased its position in shares of PAR Technology by 407.6% in the third quarter. CenterBook Partners LP now owns 114,481 shares of the software maker’s stock valued at $4,531,000 after buying an additional 91,929 shares in the last quarter. Hodges Capital Management Inc. acquired a new position in shares of PAR Technology during the 3rd quarter worth approximately $520,000. Pring Turner Capital Group Inc. grew its stake in PAR Technology by 40.9% in the 3rd quarter. Pring Turner Capital Group Inc. now owns 5,436 shares of the software maker’s stock valued at $215,000 after acquiring an additional 1,577 shares during the period. Finally, Vanguard Group Inc. increased its holdings in PAR Technology by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 3,291,802 shares of the software maker’s stock worth $130,290,000 after acquiring an additional 15,131 shares in the last quarter.

About PAR Technology

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.