PAR Technology’s (PAR) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of PAR Technology (NYSE:PAR) in a report published on Tuesday,Benzinga reports. Needham & Company LLC currently has a $90.00 target price on the software maker’s stock.

PAR has been the topic of several other reports. Benchmark lifted their price objective on PAR Technology from $69.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Stephens boosted their price objective on shares of PAR Technology from $70.00 to $83.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. StockNews.com raised shares of PAR Technology to a “sell” rating in a research note on Thursday, November 7th. Lake Street Capital upped their price target on shares of PAR Technology from $57.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Craig Hallum raised their price objective on PAR Technology from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, PAR Technology currently has an average rating of “Moderate Buy” and an average target price of $78.25.

PAR Technology Trading Up 4.1 %

Shares of PAR stock opened at $80.06 on Tuesday. The firm’s 50-day simple moving average is $63.05 and its 200-day simple moving average is $54.08. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.13 and a quick ratio of 1.91. PAR Technology has a 1-year low of $36.16 and a 1-year high of $80.82. The firm has a market cap of $2.91 billion, a P/E ratio of -320.23 and a beta of 2.14.

PAR Technology (NYSE:PAR) last posted its quarterly earnings results on Friday, November 8th. The software maker reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. The company had revenue of $96.80 million for the quarter, compared to the consensus estimate of $91.01 million. PAR Technology had a negative net margin of 0.66% and a negative return on equity of 8.99%. PAR Technology’s revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.35) earnings per share. As a group, equities analysts forecast that PAR Technology will post -1.56 EPS for the current year.

Institutional Investors Weigh In On PAR Technology

A number of hedge funds have recently bought and sold shares of the business. TimesSquare Capital Management LLC purchased a new position in shares of PAR Technology during the 3rd quarter valued at approximately $14,398,000. Bamco Inc. NY boosted its stake in PAR Technology by 15.2% during the 3rd quarter. Bamco Inc. NY now owns 1,170,908 shares of the software maker’s stock valued at $60,981,000 after acquiring an additional 154,921 shares during the last quarter. Progeny 3 Inc. grew its holdings in PAR Technology by 10.9% during the 2nd quarter. Progeny 3 Inc. now owns 1,320,858 shares of the software maker’s stock worth $62,199,000 after acquiring an additional 129,810 shares in the last quarter. Fred Alger Management LLC bought a new stake in shares of PAR Technology in the 3rd quarter worth about $6,600,000. Finally, Magnolia Capital Advisors LLC acquired a new stake in shares of PAR Technology in the 2nd quarter valued at about $3,881,000.

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.