Needham & Company LLC Has Lowered Expectations for PAR Technology (NYSE:PAR) Stock Price

PAR Technology (NYSE:PAR) had its price target reduced by stock analysts at Needham & Company LLC from $55.00 to $30.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 33.99% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of PAR Technology in a research report on Monday, December 29th. BTIG Research reiterated a “buy” rating and issued a $60.00 price target on shares of PAR Technology in a report on Friday, January 30th. Six 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 MarketBeat.com, PAR Technology presently has an average rating of “Moderate Buy” and an average price target of $56.00.

PAR Technology Stock Performance

PAR Technology stock opened at $22.39 on Friday. The stock has a fifty day moving average price of $30.07 and a 200 day moving average price of $36.78. PAR Technology has a 52 week low of $19.28 and a 52 week high of $72.15. The firm has a market capitalization of $908.81 million, a P/E ratio of -10.46 and a beta of 1.35. The company has a current ratio of 1.70, a quick ratio of 1.51 and a debt-to-equity ratio of 0.45.

Insider Buying and Selling

In other PAR Technology news, CFO Bryan A. Menar sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $35.53, for a total transaction of $230,945.00. Following the completion of the sale, the chief financial officer directly owned 71,481 shares in the company, valued at $2,539,719.93. The trade was a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Voss Capital, Lp bought 146,789 shares of the business’s stock in a transaction dated Tuesday, December 30th. The stock was acquired at an average cost of $36.51 per share, for a total transaction of $5,359,266.39. Following the purchase, the insider owned 3,564,652 shares in the company, valued at approximately $130,145,444.52. This trade represents a 4.29% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 196,035 shares of company stock worth $7,103,730. 3.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Stephens Investment Management Group LLC increased its holdings in PAR Technology by 54.4% during the 3rd quarter. Stephens Investment Management Group LLC now owns 158,959 shares of the software maker’s stock worth $6,292,000 after purchasing an additional 56,036 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of PAR Technology by 13.2% during the 2nd quarter. Geode Capital Management LLC now owns 942,503 shares of the software maker’s stock valued at $65,389,000 after buying an additional 110,160 shares during the last quarter. Invesco Ltd. grew its position in shares of PAR Technology by 24.1% during the second quarter. Invesco Ltd. now owns 1,877,239 shares of the software maker’s stock worth $130,224,000 after buying an additional 364,892 shares in the last quarter. AXA S.A. grew its position in shares of PAR Technology by 360.1% during the second quarter. AXA S.A. now owns 298,985 shares of the software maker’s stock worth $20,741,000 after buying an additional 234,009 shares in the last quarter. Finally, Bamco Inc. NY increased its stake in shares of PAR Technology by 8.5% in the second quarter. Bamco Inc. NY now owns 1,751,387 shares of the software maker’s stock worth $121,494,000 after buying an additional 137,434 shares during the last quarter.

About PAR Technology

PAR Technology Corp is a provider of enterprise software and hardware solutions for the hospitality, foodservice and retail industries. The company’s platforms are designed to streamline front- and back-of-house operations, covering point-of-sale (POS) systems, kitchen display and dispatch, inventory and labor management, and reporting tools. PAR’s integrated approach enables operators of full-service restaurants, quick-service chains, bars, hotels, casinos and retail outlets to centralize data and automate workflows across multiple sites.

Key offerings include PAR Brink, a cloud-native POS application that supports touchscreen, mobile and tablet devices; PAR Cloud Services, which delivers software updates, reporting and analytics through a subscription model; and hardware solutions such as payment terminals, handheld devices and self-service kiosks.