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

Needham & Company LLC restated their buy rating on shares of PAR Technology (NYSE:PAR) in a report published on Monday,Benzinga reports. The brokerage currently has a $25.00 price objective on the software maker’s stock.

Several other research firms also recently issued reports on PAR. JPMorgan Chase & Co. lifted their price target on shares of PAR Technology from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. BTIG Research lowered their price objective on shares of PAR Technology from $45.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Weiss Ratings raised shares of PAR Technology from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 27th. UBS Group set a $16.00 price objective on shares of PAR Technology in a report on Tuesday, June 9th. Finally, Royal Bank Of Canada set a $16.00 target price on shares of PAR Technology in a research report on Tuesday, June 9th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.61.

PAR Technology Stock Up 2.2%

Shares of NYSE:PAR opened at $13.80 on Monday. The business’s 50 day simple moving average is $17.37 and its two-hundred day simple moving average is $15.72. The firm has a market cap of $570.97 million, a P/E ratio of -7.84 and a beta of 1.33. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.89 and a current ratio of 2.21. PAR Technology has a 52-week low of $11.59 and a 52-week high of $40.54.

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

Insider Activity

In other PAR Technology news, Director Narinder Singh bought 11,518 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was purchased at an average cost of $17.36 per share, with a total value of $199,952.48. Following the transaction, the director directly owned 38,527 shares in the company, valued at $668,828.72. This trade represents a 42.65% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PAR Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Reinhart Partners LLC. lifted its holdings in shares of PAR Technology by 45.6% in the fourth quarter. Reinhart Partners LLC. now owns 1,309,860 shares of the software maker’s stock worth $47,522,000 after buying an additional 410,183 shares in the last quarter. Progeny 3 Inc. grew its stake in PAR Technology by 5.6% during the first quarter. Progeny 3 Inc. now owns 2,170,808 shares of the software maker’s stock valued at $28,937,000 after acquiring an additional 114,500 shares in the last quarter. Stephens Investment Management Group LLC increased its holdings in PAR Technology by 62.2% during the 1st quarter. Stephens Investment Management Group LLC now owns 458,621 shares of the software maker’s stock worth $6,113,000 after acquiring an additional 175,831 shares during the period. Hsbc Holdings PLC bought a new stake in PAR Technology during the 2nd quarter worth approximately $1,308,000. Finally, Visionary Wealth Advisors purchased a new stake in PAR Technology in the 2nd quarter worth approximately $6,844,000.

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.