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

PAR Technology (NYSE:PAR)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a report issued on Monday, Benzinga reports. They presently have a $25.00 target price on the software maker’s stock. Needham & Company LLC’s price target would indicate a potential upside of 81.09% from the stock’s previous close.

Several other research analysts have also weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of PAR Technology from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. The Goldman Sachs Group increased 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. BTIG Research reduced their price target on shares of PAR Technology from $45.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Royal Bank Of Canada set a $16.00 price target on shares of PAR Technology in a report on Tuesday, June 9th. Finally, Weiss Ratings upgraded shares of PAR Technology from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 27th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.61.

PAR Technology Trading Up 2.2%

NYSE PAR traded up $0.30 on Monday, reaching $13.81. The company had a trading volume of 962,496 shares, compared to its average volume of 1,390,320. PAR Technology has a 52 week low of $11.59 and a 52 week high of $40.54. The stock’s 50 day moving average is $17.40 and its 200-day moving average is $15.73. The company has a quick ratio of 1.89, a current ratio of 2.21 and a debt-to-equity ratio of 0.52. The stock 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 earnings results on Thursday, August 6th. The software maker reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.06. The firm had revenue of $133.41 million for the quarter, compared to analysts’ expectations of $124.66 million. PAR Technology had a negative return on equity of 1.62% and a negative net margin of 14.52%.The company’s revenue was up 18.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.03 earnings per share. Equities analysts predict that PAR Technology will post -0.13 earnings per share for the current 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 purchased at an average cost of $17.36 per share, for a total transaction of $199,952.48. Following the acquisition, the director owned 38,527 shares of the company’s stock, valued at approximately $668,828.72. This represents a 42.65% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On PAR Technology

Several large investors have recently made changes to their positions in PAR. BlackRock Inc. acquired a new stake in shares of PAR Technology during the second quarter worth $70,563,000. Reinhart Partners LLC. increased its holdings in PAR Technology by 45.6% during the 4th 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. raised its stake in shares of PAR Technology by 5.6% in the 1st quarter. Progeny 3 Inc. now owns 2,170,808 shares of the software maker’s stock valued at $28,937,000 after purchasing an additional 114,500 shares during the period. Bandera Partners LLC acquired a new stake in shares of PAR Technology in the 1st quarter valued at about $9,331,000. Finally, AYAL Capital Advisors Ltd lifted its holdings in shares of PAR Technology by 70.8% in the fourth quarter. AYAL Capital Advisors Ltd now owns 205,000 shares of the software maker’s stock valued at $7,437,000 after purchasing an additional 85,000 shares in the last quarter.

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.