PAR Technology (NYSE:PAR) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of PAR Technology (NYSE:PAR) in a research report sent to investors on Monday,Benzinga reports. Needham & Company LLC currently has a $25.00 target price on the software maker’s stock.

PAR has been the topic of several other reports. Weiss Ratings upgraded shares of PAR Technology from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 27th. Royal Bank Of Canada set a $16.00 price target on shares of PAR Technology in a research note on Tuesday, June 9th. BTIG Research lowered their price objective on shares of PAR Technology from $45.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, August 7th. The Goldman Sachs Group increased their target price on PAR Technology from $18.00 to $20.50 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Finally, JPMorgan Chase & Co. lifted their target price on PAR Technology from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, PAR Technology has a consensus rating of “Moderate Buy” and an average price target of $24.61.

PAR Technology Trading Down 2.9%

Shares of PAR opened at $13.66 on Monday. The stock has a fifty day moving average of $17.45 and a two-hundred day moving average of $15.75. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.89 and a current ratio of 2.21. The company has a market capitalization of $564.85 million, a PE ratio of -7.76 and a beta of 1.33. PAR Technology has a fifty-two week low of $11.59 and a fifty-two week high of $40.54.

PAR Technology (NYSE:PAR) last issued its quarterly earnings results on Thursday, August 6th. The software maker reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.06. The company had revenue of $133.41 million for the quarter, compared to analyst estimates of $124.66 million. PAR Technology had a negative return on equity of 1.62% and a negative net margin of 14.52%.The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.03 EPS. As a group, analysts forecast that PAR Technology will post -0.13 EPS for the current year.

Insider Buying and Selling at PAR Technology

In other PAR Technology news, Director Narinder Singh purchased 11,518 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was purchased at an average cost of $17.36 per share, with a total value of $199,952.48. Following the transaction, the director owned 38,527 shares in the company, valued at approximately $668,828.72. This trade represents a 42.65% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PAR. BlackRock Inc. acquired a new stake in shares of PAR Technology in the second quarter valued at about $70,563,000. Bandera Partners LLC acquired a new position in PAR Technology during the 1st quarter worth approximately $9,331,000. Renaissance Technologies LLC acquired a new position in PAR Technology during the 1st quarter worth approximately $5,508,000. Reinhart Partners LLC. boosted its holdings in PAR Technology by 45.6% in the 4th quarter. Reinhart Partners LLC. now owns 1,309,860 shares of the software maker’s stock worth $47,522,000 after acquiring an additional 410,183 shares during the period. Finally, Visionary Wealth Advisors purchased a new position in PAR Technology in the 2nd quarter worth approximately $6,844,000.

About PAR Technology

PAR Technology Corporation provides technology solutions for restaurants and other foodservice businesses. Its products are designed to support front-of-house and back-of-house operations, including point-of-sale transactions, payment processing, customer engagement, loyalty programs, workforce management, inventory management and restaurant analytics.

The company’s platform includes Brink POS, a cloud-based point-of-sale system for restaurant operators, as well as PAR Pay payment solutions and customer engagement technology associated with Punchh.