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

Needham & Company LLC reaffirmed their buy rating on shares of PAR Technology (NYSE:PAR) in a report issued on Thursday,Benzinga reports. The brokerage currently has a $55.00 price target on the software maker’s stock.

Several other equities research analysts also recently weighed in on the stock. BTIG Research decreased their price target on shares of PAR Technology from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Benchmark reduced their target price on PAR Technology from $92.00 to $77.00 and set a “buy” rating for the company in a research note on Tuesday, August 19th. The Goldman Sachs Group dropped their price target on PAR Technology from $50.00 to $38.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Weiss Ratings reissued a “sell (d)” rating on shares of PAR Technology in a research note on Wednesday, October 8th. Finally, William Blair reaffirmed an “outperform” rating on shares of PAR Technology in a research report on Tuesday, October 14th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, PAR Technology presently has a consensus rating of “Moderate Buy” and an average target price of $64.00.

PAR Technology Price Performance

Shares of PAR traded down $0.21 during mid-day trading on Thursday, reaching $38.87. The company had a trading volume of 583,352 shares, compared to its average volume of 603,278. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -17.28 and a beta of 1.63. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.49 and a current ratio of 1.70. The company’s 50 day simple moving average is $38.72 and its 200 day simple moving average is $54.11. PAR Technology has a 1-year low of $32.56 and a 1-year high of $82.24.

PAR Technology (NYSE:PAR) last announced its quarterly earnings results on Thursday, November 6th. The software maker reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). PAR Technology had a negative net margin of 20.64% and a negative return on equity of 3.16%. The business had revenue of $119.18 million during the quarter, compared to analyst estimates of $112.23 million. During the same quarter last year, the company posted ($0.09) earnings per share. The company’s revenue was up 23.1% compared to the same quarter last year. Analysts expect that PAR Technology will post -1.47 EPS for the current year.

Hedge Funds Weigh In On PAR Technology

Hedge funds have recently modified their holdings of the company. Polar Asset Management Partners Inc. boosted its stake in PAR Technology by 89.0% in the third quarter. Polar Asset Management Partners Inc. now owns 115,262 shares of the software maker’s stock valued at $4,562,000 after acquiring an additional 54,262 shares during the last quarter. One Capital Management LLC raised its holdings in shares of PAR Technology by 61.2% in the 3rd quarter. One Capital Management LLC now owns 21,392 shares of the software maker’s stock worth $847,000 after purchasing an additional 8,125 shares during the period. Marathon Capital Management raised its holdings in shares of PAR Technology by 383.2% in the 3rd quarter. Marathon Capital Management now owns 67,595 shares of the software maker’s stock worth $2,675,000 after purchasing an additional 53,605 shares during the period. Marshall Wace LLP lifted its stake in PAR Technology by 3,057.2% in the third quarter. Marshall Wace LLP now owns 271,930 shares of the software maker’s stock valued at $10,763,000 after purchasing an additional 263,317 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in PAR Technology by 67.5% during the third quarter. Sei Investments Co. now owns 71,924 shares of the software maker’s stock valued at $2,847,000 after purchasing an additional 28,996 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.