PAR Technology (NYSE:PAR) Earns “Buy” Rating from Needham & Company LLC

PAR Technology (NYSE:PAR)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a report released on Monday, Benzinga reports. They presently have a $25.00 price objective on the software maker’s stock. Needham & Company LLC’s price target indicates a potential upside of 81.09% from the company’s current price.

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

PAR Technology Trading Up 2.2%

Shares of PAR Technology stock traded up $0.30 during trading on Monday, reaching $13.81. 962,496 shares of the stock were exchanged, compared to its average volume of 1,390,320. The company has a quick ratio of 1.89, a current ratio of 2.21 and a debt-to-equity ratio of 0.52. PAR Technology has a 1 year low of $11.59 and a 1 year high of $40.54. The stock’s fifty day moving average is $17.40 and its 200 day moving average is $15.73. The firm has a market cap of $571.02 million, a price-to-earnings ratio of -7.84 and a beta of 1.33.

PAR Technology (NYSE:PAR) last issued its quarterly earnings data on Thursday, August 6th. The software maker reported $0.18 EPS for the quarter, topping the consensus estimate of $0.12 by $0.06. PAR Technology had a negative net margin of 14.52% and a negative return on equity of 1.62%. The business had revenue of $133.41 million during the quarter, compared to analyst estimates of $124.66 million. During the same period last year, the business posted $0.03 earnings per share. PAR Technology’s quarterly revenue was up 18.7% compared to the same quarter last year. As a group, equities research analysts expect that PAR Technology will post -0.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Narinder Singh bought 11,518 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were acquired at an average cost of $17.36 per share, for a total transaction of $199,952.48. Following the purchase, the director directly owned 38,527 shares of the company’s stock, valued at approximately $668,828.72. The trade was a 42.65% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PAR Technology

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of PAR Technology during the second quarter valued at approximately $70,563,000. Bandera Partners LLC purchased a new stake in PAR Technology during the first quarter valued at approximately $9,331,000. Renaissance Technologies LLC purchased a new stake in PAR Technology during the first quarter valued at approximately $5,508,000. Reinhart Partners LLC. lifted its position in PAR Technology by 45.6% during the fourth quarter. Reinhart Partners LLC. now owns 1,309,860 shares of the software maker’s stock valued at $47,522,000 after acquiring an additional 410,183 shares during the last quarter. Finally, Visionary Wealth Advisors purchased a new stake in PAR Technology during the second quarter valued at approximately $6,844,000.

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.