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

Needham & Company LLC reaffirmed their buy rating on shares of PAR Technology (NYSE:PAR) in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a $90.00 price objective on the software maker’s stock.

Several other equities analysts have also issued reports on the company. Stephens boosted their price objective on PAR Technology from $70.00 to $83.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Jefferies Financial Group upgraded shares of PAR Technology from a “hold” rating to a “buy” rating and upped their price target for the company from $45.00 to $60.00 in a report on Monday, August 12th. The Goldman Sachs Group increased their price objective on shares of PAR Technology from $59.00 to $71.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Lake Street Capital upped their target price on shares of PAR Technology from $57.00 to $77.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Benchmark lifted their price target on PAR Technology from $69.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $78.25.

PAR Technology Price Performance

NYSE:PAR opened at $81.02 on Tuesday. The company has a quick ratio of 1.91, a current ratio of 2.13 and a debt-to-equity ratio of 0.67. The firm has a market cap of $2.94 billion, a PE ratio of -324.08 and a beta of 2.14. The company’s 50-day moving average price is $63.55 and its two-hundred day moving average price is $54.36. PAR Technology has a 12 month low of $36.16 and a 12 month high of $82.24.

PAR Technology (NYSE:PAR) last posted its quarterly earnings results on Friday, November 8th. The software maker reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. PAR Technology had a negative net margin of 0.66% and a negative return on equity of 8.99%. The business had revenue of $96.80 million during the quarter, compared to the consensus estimate of $91.01 million. During the same period in the previous year, the firm posted ($0.35) earnings per share. PAR Technology’s revenue for the quarter was down 9.6% compared to the same quarter last year. On average, equities analysts anticipate that PAR Technology will post -1.56 EPS for the current fiscal year.

Institutional Investors Weigh In On PAR Technology

Several institutional investors have recently made changes to their positions in the stock. Arcadia Investment Management Corp MI acquired a new stake in PAR Technology in the second quarter valued at about $32,000. Amalgamated Bank boosted its stake in shares of PAR Technology by 25.5% in the 2nd quarter. Amalgamated Bank now owns 1,166 shares of the software maker’s stock valued at $55,000 after purchasing an additional 237 shares in the last quarter. LRI Investments LLC bought a new stake in shares of PAR Technology during the 1st quarter valued at approximately $99,000. nVerses Capital LLC acquired a new stake in shares of PAR Technology during the 3rd quarter valued at $125,000. Finally, RiverPark Advisors LLC bought a new stake in PAR Technology during the 2nd quarter worth $191,000.

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.