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

PAR Technology (NYSE:PAR)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports. They presently have a $90.00 price target on the software maker’s stock. Needham & Company LLC’s target price points to a potential upside of 25.86% from the stock’s current price.

A number of other equities research analysts have also issued reports on the stock. StockNews.com upgraded shares of PAR Technology to a “sell” rating in a report on Thursday, November 7th. The Goldman Sachs Group boosted their target price on shares of PAR Technology from $71.00 to $79.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Lake Street Capital raised their target price on PAR Technology from $57.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Craig Hallum upped their price target on PAR Technology from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Benchmark raised their price objective on PAR Technology from $69.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.25.

PAR Technology Stock Down 1.6 %

PAR stock opened at $71.51 on Friday. The firm has a market cap of $2.60 billion, a PE ratio of -286.03 and a beta of 2.20. PAR Technology has a 12 month low of $37.74 and a 12 month high of $82.24. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.13 and a quick ratio of 1.91. The firm has a 50 day simple moving average of $73.17 and a 200 day simple moving average of $59.41.

PAR Technology (NYSE:PAR) last issued its earnings results on Friday, November 8th. The software maker reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. The business had revenue of $96.80 million for the quarter, compared to analysts’ expectations of $91.01 million. PAR Technology had a negative return on equity of 8.99% and a negative net margin of 0.66%. The company’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.35) EPS. Equities research analysts forecast that PAR Technology will post -1.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PAR Technology

Hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. raised its position in shares of PAR Technology by 6.2% in the third quarter. Franklin Resources Inc. now owns 15,968 shares of the software maker’s stock valued at $903,000 after purchasing an additional 932 shares during the period. Virtu Financial LLC bought a new position in PAR Technology in the 3rd quarter worth $655,000. Geode Capital Management LLC lifted its position in PAR Technology by 11.1% during the 3rd quarter. Geode Capital Management LLC now owns 819,035 shares of the software maker’s stock worth $42,664,000 after acquiring an additional 81,551 shares during the last quarter. ABS Direct Equity Fund LLC boosted its holdings in PAR Technology by 7.3% during the third quarter. ABS Direct Equity Fund LLC now owns 73,580 shares of the software maker’s stock valued at $3,832,000 after acquiring an additional 5,000 shares during the period. Finally, Barclays PLC grew its position in shares of PAR Technology by 431.3% in the third quarter. Barclays PLC now owns 63,536 shares of the software maker’s stock valued at $3,310,000 after purchasing an additional 51,578 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.