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

PAR Technology (NYSE:PAR)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research note issued on Tuesday,Benzinga reports. They presently have a $90.00 price target on the software maker’s stock. Needham & Company LLC’s price target would indicate a potential upside of 12.42% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. StockNews.com upgraded shares of PAR Technology to a “sell” rating in a research report on Thursday, November 7th. Jefferies Financial Group upgraded PAR Technology from a “hold” rating to a “buy” rating and increased their price target for the company from $45.00 to $60.00 in a research note on Monday, August 12th. Stephens boosted their price objective on PAR Technology from $70.00 to $83.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. The Goldman Sachs Group upped their target price on PAR Technology from $59.00 to $71.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Finally, Benchmark boosted their price target on PAR Technology from $69.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $78.25.

PAR Technology Trading Up 4.1 %

Shares of PAR stock opened at $80.06 on Tuesday. PAR Technology has a fifty-two week low of $36.16 and a fifty-two week high of $80.82. The stock’s fifty day moving average price is $62.12 and its two-hundred day moving average price is $53.72. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.91 and a current ratio of 2.13. The company has a market cap of $2.91 billion, a PE ratio of -307.67 and a beta of 2.14.

PAR Technology (NYSE:PAR) last released its quarterly earnings data on Friday, November 8th. The software maker reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.01. The business had revenue of $96.80 million for the quarter, compared to analyst estimates of $91.01 million. PAR Technology had a negative return on equity of 8.99% and a negative net margin of 0.66%. PAR Technology’s revenue was down 9.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.35) earnings per share. Equities analysts predict that PAR Technology will post -1.56 EPS for the current fiscal year.

Hedge Funds Weigh In On PAR Technology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. TimesSquare Capital Management LLC bought a new position in PAR Technology during the 3rd quarter worth approximately $14,398,000. Bamco Inc. NY increased its position in shares of PAR Technology by 15.2% during the third quarter. Bamco Inc. NY now owns 1,170,908 shares of the software maker’s stock worth $60,981,000 after buying an additional 154,921 shares during the period. Progeny 3 Inc. raised its stake in PAR Technology by 10.9% during the second quarter. Progeny 3 Inc. now owns 1,320,858 shares of the software maker’s stock worth $62,199,000 after buying an additional 129,810 shares during the last quarter. Fred Alger Management LLC acquired a new position in PAR Technology in the third quarter valued at $6,600,000. Finally, Magnolia Capital Advisors LLC bought a new stake in PAR Technology during the second quarter valued at $3,881,000.

PAR Technology Company Profile

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.