PAR Technology (NYSE:PAR) Earns “Buy” Rating from Needham & Company LLC

PAR Technology (NYSE:PAR)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a note issued to investors on Monday, Benzinga reports. They currently have a $25.00 target price on the software maker’s stock. Needham & Company LLC’s price target points to a potential upside of 78.44% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. UBS Group set a $16.00 price target on PAR Technology in a research note on Tuesday, June 9th. BTIG Research lowered their price target on shares of PAR Technology from $45.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, August 7th. The Goldman Sachs Group increased their price target on shares of PAR Technology from $18.00 to $20.50 and gave the company a “neutral” rating in a report on Thursday, July 9th. Weiss Ratings raised shares of PAR Technology from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 27th. Finally, JPMorgan Chase & Co. increased their price target on shares of PAR Technology from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, PAR Technology has a consensus rating of “Moderate Buy” and an average target price of $24.61.

PAR Technology Stock Up 1.8%

Shares of NYSE PAR traded up $0.25 during trading hours on Monday, hitting $14.01. The company had a trading volume of 139,569 shares, compared to its average volume of 1,383,495. The stock has a market capitalization of $579.45 million, a P/E ratio of -7.97 and a beta of 1.33. The company has a quick ratio of 1.89, a current ratio of 2.21 and a debt-to-equity ratio of 0.52. PAR Technology has a 1-year low of $11.59 and a 1-year high of $40.54. The firm’s 50 day moving average is $17.37 and its 200-day moving average is $15.72.

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

Insider Buying and Selling

In related news, Director Narinder Singh purchased 11,518 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was acquired at an average price of $17.36 per share, with a total value of $199,952.48. Following the completion of the purchase, the director directly owned 38,527 shares in the company, valued at $668,828.72. This trade represents a 42.65% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. ProShare Advisors LLC grew its holdings in shares of PAR Technology by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 7,330 shares of the software maker’s stock worth $266,000 after purchasing an additional 471 shares during the last quarter. Pring Turner Capital Group Inc. grew its holdings in shares of PAR Technology by 27.2% during the fourth quarter. Pring Turner Capital Group Inc. now owns 6,916 shares of the software maker’s stock worth $251,000 after purchasing an additional 1,480 shares during the last quarter. Bamco Inc. NY bought a new stake in shares of PAR Technology during the second quarter worth about $38,000. State of Wyoming bought a new stake in shares of PAR Technology during the second quarter worth about $43,000. Finally, Corient Private Wealth LLC grew its holdings in shares of PAR Technology by 6.0% during the fourth quarter. Corient Private Wealth LLC now owns 45,262 shares of the software maker’s stock worth $1,642,000 after purchasing an additional 2,572 shares during the last quarter.

PAR Technology Company Profile

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.