Needham & Company LLC Reiterates “Buy” Rating for PAR Technology (NYSE:PAR)

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

Other equities analysts have also issued reports about the stock. Craig Hallum boosted their price objective on shares of PAR Technology from $65.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, November 11th. The Goldman Sachs Group boosted their price target on PAR Technology from $71.00 to $79.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Benchmark increased their price objective on PAR Technology from $69.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Lake Street Capital boosted their target price on PAR Technology from $57.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, StockNews.com upgraded shares of PAR Technology to a “sell” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, PAR Technology has an average rating of “Moderate Buy” and a consensus price target of $79.25.

PAR Technology Price Performance

Shares of PAR Technology stock opened at $74.08 on Friday. The business has a 50 day moving average of $73.47 and a 200 day moving average of $59.60. PAR Technology has a 52 week low of $37.74 and a 52 week high of $82.24. The company has a market cap of $2.69 billion, a PE ratio of -296.31 and a beta of 2.21. The company has a quick ratio of 1.91, a current ratio of 2.13 and a debt-to-equity ratio of 0.67.

PAR Technology (NYSE:PAR) last announced its earnings results on Friday, November 8th. The software maker reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $91.01 million. During the same quarter last year, the firm earned ($0.35) earnings per share. The business’s revenue for the quarter was down 9.6% on a year-over-year basis. As a group, equities research analysts forecast that PAR Technology will post -1.47 earnings per share for the current year.

Institutional Investors Weigh In On PAR Technology

A number of large investors have recently made changes to their positions in PAR. Arcadia Investment Management Corp MI bought a new position in shares of PAR Technology in the 2nd quarter worth approximately $32,000. Amalgamated Bank increased its holdings in PAR Technology by 25.5% during the second quarter. Amalgamated Bank now owns 1,166 shares of the software maker’s stock valued at $55,000 after buying an additional 237 shares during the last quarter. nVerses Capital LLC bought a new position in PAR Technology in the third quarter worth approximately $125,000. Principal Financial Group Inc. purchased a new position in shares of PAR Technology during the 2nd quarter worth $211,000. Finally, Victory Capital Management Inc. grew its position in shares of PAR Technology by 5.1% during the 3rd 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.

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.