PAR Technology (NYSE:PAR) Given “Buy” Rating at Needham & Company LLC

PAR Technology (NYSE:PAR)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a report issued on Monday, Benzinga reports. They currently have a $25.00 price objective on the software maker’s stock. Needham & Company LLC’s target price indicates a potential upside of 85.46% from the stock’s current price.

A number of other analysts have also recently weighed in on PAR. JPMorgan Chase & Co. raised their price target on PAR Technology from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Weiss Ratings upgraded PAR Technology from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 27th. BTIG Research cut their price target on PAR Technology from $45.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Royal Bank Of Canada set a $16.00 target price on PAR Technology in a research report on Tuesday, June 9th. Finally, The Goldman Sachs Group lifted their target price on PAR Technology from $18.00 to $20.50 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.61.

PAR Technology Stock Down 1.2%

PAR Technology stock opened at $13.48 on Monday. PAR Technology has a 1-year low of $11.59 and a 1-year high of $40.54. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.21 and a quick ratio of 1.89. The stock has a market cap of $557.53 million, a PE ratio of -7.66 and a beta of 1.33. The stock’s fifty day moving average is $17.40 and its two-hundred day moving average is $15.73.

PAR Technology (NYSE:PAR) last posted its quarterly earnings results on Thursday, August 6th. The software maker reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.06. PAR Technology had a negative return on equity of 1.62% and a negative net margin of 14.52%.The company had revenue of $133.41 million for the quarter, compared to analysts’ expectations of $124.66 million. During the same period last year, the firm earned $0.03 earnings per share. PAR Technology’s quarterly revenue was up 18.7% on a year-over-year basis. On average, sell-side analysts expect that PAR Technology will post -0.13 EPS for the current fiscal year.

Insider Activity at PAR Technology

In other news, Director Narinder Singh bought 11,518 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average price of $17.36 per share, for a total transaction of $199,952.48. Following the completion of the transaction, the director owned 38,527 shares of the company’s stock, valued at approximately $668,828.72. This trade represents a 42.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.30% of the company’s stock.

Institutional Trading of PAR Technology

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bamco Inc. NY acquired a new stake in shares of PAR Technology during the second quarter worth about $38,000. State of Wyoming purchased a new position in shares of PAR Technology during the second quarter worth about $43,000. MidFirst Bank purchased a new position in shares of PAR Technology during the fourth quarter worth about $113,000. Versant Capital Management Inc grew its holdings in shares of PAR Technology by 325.5% during the second quarter. Versant Capital Management Inc now owns 5,110 shares of the software maker’s stock worth $89,000 after buying an additional 3,909 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of PAR Technology during the second quarter worth about $116,000.

PAR Technology Company Profile

PAR Technology Corporation provides technology solutions for restaurants and other foodservice businesses. Its products are designed to support front-of-house and back-of-house operations, including point-of-sale transactions, payment processing, customer engagement, loyalty programs, workforce management, inventory management and restaurant analytics.

The company’s platform includes Brink POS, a cloud-based point-of-sale system for restaurant operators, as well as PAR Pay payment solutions and customer engagement technology associated with Punchh.