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

PAR Technology (NYSE:PAR)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a research report issued on Friday,Benzinga reports. They presently have a $90.00 target price on the software maker’s stock. Needham & Company LLC’s price target would indicate a potential upside of 21.49% from the company’s previous close.

A number of other brokerages also recently issued reports on PAR. Stephens upped their price objective on PAR Technology from $83.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Benchmark increased their price target on shares of PAR Technology from $69.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. StockNews.com raised shares of PAR Technology to a “sell” rating in a research report on Thursday, November 7th. Craig Hallum increased their target price on shares of PAR Technology from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Lake Street Capital lifted their price target 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $79.25.

PAR Technology Stock Performance

Shares of PAR stock 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. The firm has a 50-day moving average of $73.47 and a 200-day moving average of $59.60. PAR Technology has a one year low of $37.74 and a one year high of $82.24. The company 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 posted its quarterly earnings data on Friday, November 8th. The software maker reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.01. The firm had revenue of $96.80 million during the quarter, compared to analyst estimates of $91.01 million. PAR Technology had a negative net margin of 0.66% and a negative return on equity of 8.99%. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.35) EPS. Equities research analysts forecast that PAR Technology will post -1.47 EPS for the current fiscal year.

Institutional Investors Weigh In On PAR Technology

Several institutional investors have recently made changes to their positions in PAR. Victory Capital Management Inc. boosted its position in shares of PAR Technology by 5.1% in the third quarter. Victory Capital Management Inc. now owns 4,524 shares of the software maker’s stock valued at $236,000 after acquiring an additional 219 shares during the period. Amalgamated Bank raised its holdings in shares of PAR Technology by 25.5% during the 2nd quarter. Amalgamated Bank now owns 1,166 shares of the software maker’s stock valued at $55,000 after buying an additional 237 shares in the last quarter. Inspire Investing LLC lifted its holdings in shares of PAR Technology by 6.1% in the 3rd quarter. Inspire Investing LLC now owns 7,935 shares of the software maker’s stock worth $413,000 after acquiring an additional 454 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in PAR Technology in the second quarter worth $32,000. Finally, RiverPark Advisors LLC lifted its stake in shares of PAR Technology by 21.3% in the 3rd quarter. RiverPark Advisors LLC now owns 4,929 shares of the software maker’s stock valued at $257,000 after acquiring an additional 865 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.