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

Needham & Company LLC restated their buy rating on shares of PAR Technology (NYSE:PAR - Free Report) in a research note published on Friday,Benzinga reports. Needham & Company LLC currently has a $90.00 price objective on the software maker's stock.

Separately, The Goldman Sachs Group increased their target price on PAR Technology from $57.00 to $65.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, PAR Technology currently has an average rating of "Moderate Buy" and a consensus price target of $79.86.

PAR Technology Stock Down 0.0%

PAR stock traded down $0.01 during trading hours on Friday, reaching $69.05. 243,227 shares of the stock were exchanged, compared to its average volume of 433,171. The firm's 50-day moving average is $66.19 and its 200-day moving average is $65.12. The company has a market cap of $2.80 billion, a price-to-earnings ratio of -531.12 and a beta of 1.69. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.05 and a quick ratio of 1.83. PAR Technology has a 12 month low of $43.50 and a 12 month high of $82.24.

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

Insider Buying and Selling

In related news, Director Douglas Gregory Rauch sold 1,000 shares of PAR Technology stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $69.98, for a total transaction of $69,980.00. Following the completion of the transaction, the director owned 11,760 shares in the company, valued at approximately $822,964.80. This trade represents a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.70% of the company's stock.

Institutional Investors Weigh In On PAR Technology

Several hedge funds have recently bought and sold shares of PAR. Vanguard Group Inc. raised its position in shares of PAR Technology by 2.5% in the first quarter. Vanguard Group Inc. now owns 2,898,114 shares of the software maker's stock valued at $177,770,000 after buying an additional 69,546 shares in the last quarter. Voss Capital LP raised its position in shares of PAR Technology by 16.9% in the first quarter. Voss Capital LP now owns 1,706,362 shares of the software maker's stock valued at $104,668,000 after buying an additional 246,362 shares in the last quarter. Invesco Ltd. raised its position in shares of PAR Technology by 17.8% in the first quarter. Invesco Ltd. now owns 1,512,347 shares of the software maker's stock valued at $92,767,000 after buying an additional 228,369 shares in the last quarter. Reinhart Partners LLC. raised its position in shares of PAR Technology by 2.9% in the second quarter. Reinhart Partners LLC. now owns 883,792 shares of the software maker's stock valued at $61,310,000 after buying an additional 24,949 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of PAR Technology by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 660,496 shares of the software maker's stock valued at $48,000,000 after buying an additional 26,008 shares in the last quarter.

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.