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

PAR Technology (NYSE:PAR)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research note issued to investors on Monday, Benzinga reports. They currently have a $25.00 price objective on the software maker’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 83.22% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Royal Bank Of Canada set a $16.00 target price on shares of PAR Technology in a research note on Tuesday, June 9th. The Goldman Sachs Group raised their target price on shares of PAR Technology from $18.00 to $20.50 and gave the stock a “neutral” rating in a research note on Thursday, July 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. UBS Group set a $16.00 price objective on shares of PAR Technology in a research note on Tuesday, June 9th. Finally, JPMorgan Chase & Co. raised their price objective on shares of PAR Technology from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.61.

PAR Technology Stock Up 1.0%

Shares of NYSE PAR traded up $0.14 during mid-day trading on Monday, reaching $13.65. The company had a trading volume of 190,749 shares, compared to its average volume of 1,386,035. The stock has a market cap of $564.36 million, a P/E ratio of -7.76 and a beta of 1.33. The firm has a 50 day simple moving average of $17.40 and a two-hundred day simple moving average of $15.73. The company has a current ratio of 2.21, a quick ratio of 1.89 and a debt-to-equity ratio of 0.52. PAR Technology has a 52-week low of $11.59 and a 52-week high of $40.54.

PAR Technology (NYSE:PAR) last released its earnings results 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 company had revenue of $133.41 million during the quarter, compared to analysts’ expectations of $124.66 million. During the same quarter last year, the business earned $0.03 EPS. The business’s revenue was up 18.7% on a year-over-year basis. Sell-side analysts predict that PAR Technology will post -0.13 earnings per share for the current year.

Insider Activity

In related news, Director Narinder Singh bought 11,518 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were acquired at an average cost of $17.36 per share, with a total value 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. The trade was a 42.65% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of PAR Technology

Several institutional investors have recently added to or reduced their stakes in the stock. Reinhart Partners LLC. grew its stake in PAR Technology by 45.6% in the fourth quarter. Reinhart Partners LLC. now owns 1,309,860 shares of the software maker’s stock worth $47,522,000 after purchasing an additional 410,183 shares in the last quarter. Progeny 3 Inc. grew its position in shares of PAR Technology by 5.6% during the first quarter. Progeny 3 Inc. now owns 2,170,808 shares of the software maker’s stock worth $28,937,000 after acquiring an additional 114,500 shares during the last quarter. Stephens Investment Management Group LLC grew its position in shares of PAR Technology by 62.2% during the first quarter. Stephens Investment Management Group LLC now owns 458,621 shares of the software maker’s stock worth $6,113,000 after acquiring an additional 175,831 shares during the last quarter. Hsbc Holdings PLC bought a new position in shares of PAR Technology during the second quarter worth about $1,308,000. Finally, Visionary Wealth Advisors acquired a new stake in PAR Technology in the second quarter worth about $6,844,000.

About PAR Technology

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.