PAR Technology (NYSE:PAR) Given New $30.00 Price Target at Needham & Company LLC

PAR Technology (NYSE:PAR) had its target price lowered by equities research analysts at Needham & Company LLC from $55.00 to $30.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s price objective suggests a potential upside of 33.99% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of PAR Technology in a research note on Monday, December 29th. BTIG Research restated a “buy” rating and issued a $60.00 price target on shares of PAR Technology in a research report on Friday, January 30th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, PAR Technology presently has an average rating of “Moderate Buy” and a consensus price target of $56.00.

PAR Technology Trading Up 7.7%

Shares of NYSE PAR opened at $22.39 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.70 and a debt-to-equity ratio of 0.45. The stock’s 50 day moving average price is $30.07 and its two-hundred day moving average price is $36.78. PAR Technology has a 52-week low of $19.28 and a 52-week high of $72.15. The stock has a market capitalization of $908.81 million, a P/E ratio of -10.46 and a beta of 1.35.

Insider Buying and Selling at PAR Technology

In related news, CFO Bryan A. Menar sold 6,500 shares of PAR Technology stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $35.53, for a total value of $230,945.00. Following the sale, the chief financial officer directly owned 71,481 shares in the company, valued at $2,539,719.93. This trade represents a 8.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Voss Capital, Lp bought 146,789 shares of the firm’s stock in a transaction on Tuesday, December 30th. The stock was purchased at an average price of $36.51 per share, with a total value of $5,359,266.39. Following the transaction, the insider owned 3,564,652 shares in the company, valued at $130,145,444.52. The trade was a 4.29% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have bought 196,035 shares of company stock valued at $7,103,730. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On PAR Technology

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada increased its position in PAR Technology by 8.0% in the 1st quarter. Royal Bank of Canada now owns 20,446 shares of the software maker’s stock valued at $1,255,000 after acquiring an additional 1,515 shares during the period. AQR Capital Management LLC acquired a new position in PAR Technology during the 1st quarter worth $309,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of PAR Technology by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,012 shares of the software maker’s stock worth $1,228,000 after purchasing an additional 874 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of PAR Technology by 186,466.7% during the first quarter. Jones Financial Companies Lllp now owns 5,597 shares of the software maker’s stock valued at $343,000 after purchasing an additional 5,594 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of PAR Technology by 28.5% during the first quarter. Goldman Sachs Group Inc. now owns 231,494 shares of the software maker’s stock valued at $14,200,000 after purchasing an additional 51,316 shares in the last quarter.

PAR Technology Company Profile

PAR Technology Corp is a provider of enterprise software and hardware solutions for the hospitality, foodservice and retail industries. The company’s platforms are designed to streamline front- and back-of-house operations, covering point-of-sale (POS) systems, kitchen display and dispatch, inventory and labor management, and reporting tools. PAR’s integrated approach enables operators of full-service restaurants, quick-service chains, bars, hotels, casinos and retail outlets to centralize data and automate workflows across multiple sites.

Key offerings include PAR Brink, a cloud-native POS application that supports touchscreen, mobile and tablet devices; PAR Cloud Services, which delivers software updates, reporting and analytics through a subscription model; and hardware solutions such as payment terminals, handheld devices and self-service kiosks.