PAR Technology (NYSE:PAR) Stock Gets Price Target Boost from Needham & Company LLC

PAR Technology (NYSE:PAR) had its target price increased by equities research analysts at Needham & Company LLC from $25.00 to $30.00 in a report released on Friday, MarketBeat reports. The firm currently has a “buy” rating on the software maker’s stock. Needham & Company LLC‘s target price would indicate a potential upside of 55.84% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings upgraded PAR Technology from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 27th. JPMorgan Chase & Co. increased their price objective on PAR Technology from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, August 7th. BTIG Research lowered their target price 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. Finally, The Goldman Sachs Group lifted their target price on shares of PAR Technology from $18.00 to $20.50 and gave the company a “neutral” rating in a report on Thursday, July 9th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.17.

PAR Technology Stock Performance

PAR opened at $19.25 on Friday. PAR Technology has a one year low of $11.59 and a one year high of $40.54. The company has a current ratio of 2.21, a quick ratio of 1.89 and a debt-to-equity ratio of 0.52. The business’s 50-day simple moving average is $16.72 and its 200-day simple moving average is $17.13.

PAR Technology (NYSE:PAR) last announced its earnings results on Thursday, November 5th. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The firm had revenue of $137.11 million during the quarter, compared to analysts’ expectations of $129.79 million. PAR Technology had a negative return on equity of 1.62% and a negative net margin of 14.52%. The business’s revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 EPS. Analysts forecast that PAR Technology will post -0.13 EPS for the current year.

Insiders Place Their Bets

In other PAR Technology news, Director Narinder Singh acquired 11,518 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was purchased 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 $668,828.72. The trade was a 42.65% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PAR Technology

Several institutional investors have recently made changes to their positions in PAR. BlackRock Inc. acquired a new position in shares of PAR Technology during the 2nd quarter worth $70,563,000. Bandera Partners LLC purchased a new position in shares of PAR Technology in the 1st quarter valued at about $9,331,000. Renaissance Technologies LLC purchased a new position in shares of PAR Technology in the 1st quarter valued at about $5,508,000. Visionary Wealth Advisors acquired a new stake in shares of PAR Technology in the second quarter valued at about $6,844,000. Finally, Rice Hall James & Associates LLC acquired a new stake in shares of PAR Technology in the second quarter valued at about $6,601,000.

About PAR Technology

PAR Technology Corporation (NYSE:PAR) provides technology solutions for the restaurant and hospitality industries. Its offerings include point-of-sale systems, restaurant management software, digital ordering, loyalty and customer-engagement tools, payment solutions, workforce management, and related hardware and support services.

The company’s portfolio includes Brink POS, a cloud-based restaurant point-of-sale platform, and Punchh, a customer loyalty and engagement platform. PAR also provides tools designed to help restaurant operators manage digital channels, payments, data, and guest relationships through integrated technology solutions.

Founded in 1968, PAR Technology has expanded from its origins in restaurant and hospitality technology through organic development and acquisitions, including Punchh and Stuzo.