PAR Technology’s (PAR) Buy Rating Reaffirmed at Needham & Company LLC

PAR Technology (NYSE:PAR)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a note issued to investors on Monday,Benzinga reports. They presently have a $90.00 price objective on the software maker’s stock. Needham & Company LLC’s target price would indicate a potential upside of 39.06% from the company’s previous close.

Several other equities analysts have also commented on the company. Stephens reissued an “overweight” rating and issued a $90.00 target price on shares of PAR Technology in a report on Friday, February 28th. Citigroup restated a “neutral” rating on shares of PAR Technology in a research report on Friday, February 28th. StockNews.com upgraded shares of PAR Technology to a “sell” rating in a research report on Monday, March 3rd. Craig Hallum reaffirmed a “buy” rating on shares of PAR Technology in a research note on Friday, February 28th. Finally, Benchmark restated a “buy” rating on shares of PAR Technology in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.86.

PAR Technology Stock Performance

Shares of PAR opened at $64.72 on Monday. The stock has a market cap of $2.62 billion, a P/E ratio of -258.87 and a beta of 1.76. The stock has a 50-day moving average of $59.24 and a two-hundred day moving average of $67.17. PAR Technology has a one year low of $41.27 and a one year 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 released its quarterly earnings data on Friday, May 9th. The software maker reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. PAR Technology had a negative return on equity of 8.99% and a negative net margin of 0.66%. The firm had revenue of $103.86 million for the quarter, compared to analysts’ expectations of $105.16 million. During the same period in the prior year, the firm posted ($0.36) earnings per share. The firm’s quarterly revenue was up 48.2% on a year-over-year basis. As a group, research analysts predict that PAR Technology will post -1.47 EPS for the current year.

Institutional Trading of PAR Technology

A number of institutional investors and hedge funds have recently made changes to their positions in PAR. Vanguard Group Inc. grew its holdings in PAR Technology by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 2,898,114 shares of the software maker’s stock worth $177,770,000 after buying an additional 69,546 shares in the last quarter. Invesco Ltd. lifted its position in shares of PAR Technology by 100.9% during the 4th quarter. Invesco Ltd. now owns 1,283,978 shares of the software maker’s stock valued at $93,307,000 after acquiring an additional 644,920 shares during the last quarter. Reinhart Partners LLC. lifted its position in shares of PAR Technology by 15.0% during the 1st quarter. Reinhart Partners LLC. now owns 858,843 shares of the software maker’s stock valued at $52,681,000 after acquiring an additional 112,183 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of PAR Technology by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 660,496 shares of the software maker’s stock valued at $48,000,000 after purchasing an additional 26,008 shares in the last quarter. Finally, Next Century Growth Investors LLC lifted its holdings in shares of PAR Technology by 15.7% in the fourth quarter. Next Century Growth Investors LLC now owns 518,554 shares of the software maker’s stock valued at $37,683,000 after purchasing an additional 70,386 shares in 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.