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

PAR Technology (NYSE:PAR)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $53.00 price target on the software maker’s stock. Needham & Company LLC’s price objective indicates a potential upside of 17.57% from the stock’s current price.

Other analysts have also recently issued reports about the company. StockNews.com upgraded PAR Technology to a “sell” rating in a research report on Thursday, March 7th. TheStreet raised shares of PAR Technology from a “d+” rating to a “c-” rating in a research report on Thursday, February 15th. Sidoti raised PAR Technology from a “neutral” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Tuesday, March 12th. Benchmark assumed coverage on PAR Technology in a report on Tuesday, February 13th. They issued a “hold” rating for the company. Finally, William Blair reiterated an “outperform” rating on shares of PAR Technology in a research note on Tuesday, March 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $48.57.

PAR Technology Stock Performance

Shares of PAR opened at $45.08 on Thursday. The company has a market capitalization of $1.26 billion, a PE ratio of -17.82 and a beta of 1.98. The company’s fifty day moving average price is $44.96 and its 200 day moving average price is $40.82. PAR Technology has a one year low of $24.76 and a one year high of $49.84. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.25 and a quick ratio of 1.96.

PAR Technology (NYSE:PAR) last issued its quarterly earnings results on Tuesday, February 27th. The software maker reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.05). The business had revenue of $107.71 million for the quarter, compared to analyst estimates of $106.12 million. PAR Technology had a negative return on equity of 16.46% and a negative net margin of 16.77%. As a group, analysts expect that PAR Technology will post -1.15 earnings per share for the current year.

Insider Transactions at PAR Technology

In other PAR Technology news, Director Douglas Gregory Rauch sold 4,500 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $42.04, for a total value of $189,180.00. Following the sale, the director now owns 14,365 shares in the company, valued at $603,904.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.67% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PAR. Legal & General Group Plc increased its stake in shares of PAR Technology by 3.0% during the fourth quarter. Legal & General Group Plc now owns 9,734 shares of the software maker’s stock worth $254,000 after purchasing an additional 279 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in PAR Technology by 8.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,908 shares of the software maker’s stock worth $257,000 after acquiring an additional 468 shares during the period. Macquarie Group Ltd. raised its stake in PAR Technology by 1.0% in the 2nd quarter. Macquarie Group Ltd. now owns 52,747 shares of the software maker’s stock worth $1,978,000 after purchasing an additional 545 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in PAR Technology by 0.3% in the 4th quarter. Nuveen Asset Management LLC now owns 173,021 shares of the software maker’s stock valued at $7,533,000 after purchasing an additional 588 shares during the period. Finally, Swiss National Bank raised its position in shares of PAR Technology by 1.0% in the second quarter. Swiss National Bank now owns 59,500 shares of the software maker’s stock valued at $1,959,000 after buying an additional 600 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.