Needham & Company LLC Reiterates Buy Rating for PAR Technology (NYSE:PAR)

PAR Technology (NYSE:PAR - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports. They presently have a $90.00 target price on the software maker's stock. Needham & Company LLC's price target would indicate a potential upside of 29.25% from the company's current price.

Separately, The Goldman Sachs Group upped their target price on shares of PAR Technology from $57.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, PAR Technology presently has an average rating of "Moderate Buy" and an average target price of $79.86.

PAR Technology Price Performance

Shares of PAR stock opened at $69.63 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.05 and a quick ratio of 1.83. The company has a market capitalization of $2.82 billion, a P/E ratio of -535.62 and a beta of 1.69. The company's 50-day simple moving average is $66.02 and its two-hundred day simple moving average is $65.30. PAR Technology has a one year low of $43.50 and a one year high of $82.24.

PAR Technology (NYSE:PAR - Get Free Report) last issued its earnings results on Friday, May 9th. The software maker reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.04. The business had revenue of $103.86 million for the quarter, compared to the consensus estimate of $105.16 million. PAR Technology had a negative net margin of 2.88% and a negative return on equity of 3.90%. The company's revenue for the quarter was up 48.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.36) EPS. As a group, equities analysts anticipate that PAR Technology will post -1.47 EPS for the current year.

Insider Buying and Selling at PAR Technology

In other news, Director Douglas Gregory Rauch sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $69.98, for a total value of $69,980.00. Following the completion of the sale, the director owned 11,760 shares of the company's stock, valued at approximately $822,964.80. This represents a 7.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.70% of the company's stock.

Institutional Investors Weigh In On PAR Technology

Several hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company lifted its position in shares of PAR Technology by 1.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 17,303 shares of the software maker's stock worth $1,257,000 after purchasing an additional 168 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in PAR Technology by 3.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,233 shares of the software maker's stock valued at $382,000 after acquiring an additional 234 shares during the last quarter. Signaturefd LLC lifted its position in PAR Technology by 85.6% during the fourth quarter. Signaturefd LLC now owns 605 shares of the software maker's stock valued at $44,000 after acquiring an additional 279 shares during the last quarter. US Bancorp DE lifted its position in PAR Technology by 104.3% during the fourth quarter. US Bancorp DE now owns 668 shares of the software maker's stock valued at $49,000 after acquiring an additional 341 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in PAR Technology by 7.8% during the first quarter. Victory Capital Management Inc. now owns 4,752 shares of the software maker's stock valued at $291,000 after acquiring an additional 343 shares during the last quarter.

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.

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