PAR Technology (NYSE:PAR) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of PAR Technology (NYSE:PAR) in a research note released on Tuesday,Benzinga reports. The brokerage currently has a $90.00 price target on the software maker’s stock.

PAR has been the topic of several other research reports. The Goldman Sachs Group raised their price objective on shares of PAR Technology from $59.00 to $71.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. StockNews.com raised shares of PAR Technology to a “sell” rating in a research note on Thursday, November 7th. Benchmark increased their target price on shares of PAR Technology from $69.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Jefferies Financial Group raised PAR Technology from a “hold” rating to a “buy” rating and boosted their price target for the stock from $45.00 to $60.00 in a research report on Monday, August 12th. Finally, Lake Street Capital increased their price objective on PAR Technology from $57.00 to $77.00 and gave the company a “buy” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PAR Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.25.

PAR Technology Stock Up 1.2 %

Shares of NYSE:PAR opened at $81.02 on Tuesday. The firm has a 50 day simple moving average of $63.55 and a 200 day simple moving average of $54.36. The company has a market cap of $2.94 billion, a PE ratio of -324.08 and a beta of 2.14. PAR Technology has a 52 week low of $36.16 and a 52 week high of $82.24. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.91 and a current ratio of 2.13.

PAR Technology (NYSE:PAR) last posted its quarterly earnings results on Friday, November 8th. The software maker reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.01. PAR Technology had a negative net margin of 0.66% and a negative return on equity of 8.99%. The business had revenue of $96.80 million during the quarter, compared to analysts’ expectations of $91.01 million. During the same period last year, the company posted ($0.35) earnings per share. The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. As a group, research analysts expect that PAR Technology will post -1.56 earnings per share for the current year.

Institutional Investors Weigh In On PAR Technology

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in PAR Technology by 2.4% during the first quarter. Vanguard Group Inc. now owns 2,159,383 shares of the software maker’s stock worth $97,950,000 after buying an additional 50,793 shares in the last quarter. Progeny 3 Inc. grew its holdings in shares of PAR Technology by 10.9% during the 2nd quarter. Progeny 3 Inc. now owns 1,320,858 shares of the software maker’s stock worth $62,199,000 after purchasing an additional 129,810 shares in the last quarter. Royce & Associates LP increased its position in shares of PAR Technology by 2.6% during the third quarter. Royce & Associates LP now owns 1,184,279 shares of the software maker’s stock valued at $61,677,000 after purchasing an additional 30,000 shares during the period. Bamco Inc. NY raised its stake in shares of PAR Technology by 15.2% in the third quarter. Bamco Inc. NY now owns 1,170,908 shares of the software maker’s stock valued at $60,981,000 after purchasing an additional 154,921 shares in the last quarter. Finally, Reinhart Partners LLC. lifted its position in PAR Technology by 6.4% in the third quarter. Reinhart Partners LLC. now owns 946,773 shares of the software maker’s stock worth $49,308,000 after purchasing an additional 57,049 shares during the period.

PAR Technology Company Profile

PAR Technology Corporation, together with its subsidiaries, provides omnichannel cloud-based hardware and software solutions to the restaurant and retail industries worldwide. The Restaurant/Retail segment offers PUNCHH, an enterprise-grade customer loyalty and engagement solution; MENU, an eCommerce platform for restaurant brands; BRINK POS, an open cloud, point-of-sale solution; PAR PAYMENT SERVICES, a merchant services business that enables electronic payment and processing services for businesses; and DATA CENTRAL, a back-office solution that leverages business intelligence and automation technologies.