PAR Technology's (PAR) "Buy" Rating Reiterated at Needham & Company LLC

Key Points

• Needham & Company reaffirmed its “Buy” rating on PAR Technology and set a $25 price target, implying approximately 77.8% upside from the stock’s $14.06 opening price. The analyst consensus remains “Moderate Buy,” with an average target of $24.61.
• PAR Technology exceeded quarterly expectations, reporting $0.18 in EPS versus the $0.12 consensus and revenue of $133.41 million versus $124.66 million expected. Revenue increased 18.7% year over year, although the company remained unprofitable on a net-margin basis.
• Director Narinder Singh purchased 11,518 shares for nearly $200,000, increasing his ownership by 42.65%; insiders collectively own 2.3% of the company’s stock.

PAR Technology (NYSE:PAR - Get Free Report)'s stock had its "buy" rating reissued by Needham & Company LLC in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $25.00 price objective on the software maker's stock. Needham & Company LLC's price target suggests a potential upside of 77.76% from the company's current price.

Several other research firms have also recently weighed in on PAR. UBS Group set a $16.00 price objective on shares of PAR Technology in a research report on Tuesday, June 9th. The Goldman Sachs Group lifted their price target on shares of PAR Technology from $18.00 to $20.50 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Royal Bank Of Canada set a $16.00 price target on shares of PAR Technology in a research report on Tuesday, June 9th. Weiss Ratings upgraded shares of PAR Technology from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, August 27th. Finally, BTIG Research lowered their price target on shares of PAR Technology from $45.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $24.61.

PAR Technology Trading Up 0.0%

Shares of PAR Technology stock opened at $14.06 on Monday. The company has a quick ratio of 1.89, a current ratio of 2.21 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $581.69 million, a P/E ratio of -7.99 and a beta of 1.33. PAR Technology has a 12-month low of $11.59 and a 12-month high of $40.54. The company has a 50-day simple moving average of $17.51 and a 200 day simple moving average of $15.77.

PAR Technology (NYSE:PAR - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The software maker reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.06. The firm had revenue of $133.41 million during the quarter, compared to analysts' expectations of $124.66 million. PAR Technology had a negative net margin of 14.52% and a negative return on equity of 1.62%. The company's quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.03 EPS. Research analysts expect that PAR Technology will post -0.13 earnings per share for the current fiscal year.

Insider Transactions at PAR Technology

In other news, Director Narinder Singh acquired 11,518 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The stock was purchased at an average price of $17.36 per share, for a total transaction of $199,952.48. Following the completion of the acquisition, the director 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC lifted its stake in PAR Technology by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 7,330 shares of the software maker's stock valued at $266,000 after buying an additional 471 shares in the last quarter. Pring Turner Capital Group Inc. lifted its stake in PAR Technology by 27.2% in the fourth quarter. Pring Turner Capital Group Inc. now owns 6,916 shares of the software maker's stock valued at $251,000 after buying an additional 1,480 shares in the last quarter. Bamco Inc. NY bought a new position in PAR Technology in the second quarter valued at approximately $38,000. State of Wyoming bought a new stake in shares of PAR Technology in the second quarter worth $43,000. Finally, Corient Private Wealth LLC lifted its position in shares of PAR Technology by 6.0% in 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 in the last quarter.

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.