PAR Technology (NYSE:PAR) Earns “Buy” Rating from Needham & Company LLC

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

A number of other equities analysts also recently commented on the stock. Lake Street Capital raised their price objective on shares of PAR Technology from $57.00 to $77.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Craig Hallum lifted their price objective on PAR Technology from $65.00 to $85.00 and gave the company a “buy” rating in a report on Monday, November 11th. Benchmark increased their target price on PAR Technology from $69.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. The Goldman Sachs Group boosted their price target on PAR Technology from $71.00 to $79.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Finally, Stephens increased their price objective on PAR Technology from $83.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $79.25.

PAR Technology Price Performance

NYSE:PAR opened at $74.08 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.13 and a quick ratio of 1.91. PAR Technology has a one year low of $37.74 and a one year high of $82.24. The company has a fifty day moving average price of $73.47 and a 200 day moving average price of $59.70. The stock has a market cap of $2.69 billion, a P/E ratio of -296.31 and a beta of 2.21.

PAR Technology (NYSE:PAR) last announced its quarterly earnings data on Friday, November 8th. The software maker reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.01. The company had revenue of $96.80 million for the quarter, compared to analyst estimates of $91.01 million. PAR Technology had a negative return on equity of 8.99% and a negative net margin of 0.66%. PAR Technology’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.35) EPS. Analysts anticipate that PAR Technology will post -1.47 earnings per share for the current year.

Institutional Trading of PAR Technology

Several large investors have recently made changes to their positions in the business. Arcadia Investment Management Corp MI bought a new stake in PAR Technology during the 2nd quarter worth about $32,000. Amalgamated Bank lifted its position in shares of PAR Technology by 25.5% during the second quarter. Amalgamated Bank now owns 1,166 shares of the software maker’s stock worth $55,000 after purchasing an additional 237 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of PAR Technology during the third quarter valued at approximately $125,000. Principal Financial Group Inc. acquired a new stake in shares of PAR Technology in the second quarter valued at approximately $211,000. Finally, Victory Capital Management Inc. raised its position in PAR Technology by 5.1% in the 3rd quarter. Victory Capital Management Inc. now owns 4,524 shares of the software maker’s stock worth $236,000 after purchasing an additional 219 shares during the last quarter.

About PAR Technology

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.