PAR Technology (NYSE:PAR) Earns Buy Rating from 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 presently have a $25.00 price objective on the software maker’s stock. Needham & Company LLC’s target price would indicate a potential upside of 81.09% from the company’s current price.

Several other research firms have also recently issued reports on PAR. Weiss Ratings upgraded shares of PAR Technology from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 27th. Royal Bank Of Canada set a $16.00 price objective on shares of PAR Technology in a report on Tuesday, June 9th. UBS Group set a $16.00 target price on shares of PAR Technology in a report on Tuesday, June 9th. BTIG Research reduced their target price on shares of PAR Technology from $45.00 to $30.00 and set a “buy” rating for the company in a report on Friday, August 7th. Finally, 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 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 given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $24.61.

PAR Technology Price Performance

Shares of PAR Technology stock traded up $0.30 on Monday, hitting $13.81. The company had a trading volume of 962,493 shares, compared to its average volume of 1,390,320. The business has a 50-day simple moving average of $17.40 and a 200-day simple moving average of $15.73. 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 company has a market cap of $570.97 million, a PE ratio of -7.84 and a beta of 1.33. PAR Technology has a 52 week low of $11.59 and a 52 week high of $40.54.

PAR Technology (NYSE:PAR) last posted its quarterly earnings data on Thursday, August 6th. The software maker reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.06. The business had revenue of $133.41 million during the quarter, compared to analysts’ expectations of $124.66 million. PAR Technology had a negative net margin of 14.52% and a negative return on equity of 1.62%. The business’s revenue was up 18.7% on a year-over-year basis. During the same period last year, the firm posted $0.03 earnings per share. Research 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 purchased 11,518 shares of PAR Technology stock in a transaction that occurred on Wednesday, August 12th. The stock was acquired at an average price of $17.36 per share, for a total transaction of $199,952.48. Following the transaction, the director owned 38,527 shares in the company, valued at $668,828.72. The trade was a 42.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On PAR Technology

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of PAR Technology in the 2nd quarter valued at approximately $70,563,000. Reinhart Partners LLC. lifted its position in shares of PAR Technology by 45.6% in the 4th 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 in the last quarter. Progeny 3 Inc. lifted its position 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 acquiring an additional 114,500 shares in the last quarter. Bandera Partners LLC purchased a new stake in PAR Technology in the 1st quarter worth approximately $9,331,000. Finally, AYAL Capital Advisors Ltd lifted its position in PAR Technology by 70.8% in the 4th quarter. AYAL Capital Advisors Ltd now owns 205,000 shares of the software maker’s stock worth $7,437,000 after buying 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.