Needham & Company LLC Issues Positive Forecast for PAR Technology (NYSE:PAR) Stock Price

PAR Technology (NYSE:PAR) had its price target increased by Needham & Company LLC from $66.00 to $90.00 in a research note released on Monday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the software maker’s stock.

PAR has been the topic of a number of other reports. StockNews.com raised PAR Technology to a “sell” rating in a research note on Thursday, November 7th. Stephens lifted their price target on shares of PAR Technology from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Benchmark reaffirmed a “buy” rating and set a $69.00 target price on shares of PAR Technology in a research report on Friday, August 9th. Jefferies Financial Group upgraded 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 research report on Monday, August 12th. Finally, The Goldman Sachs Group raised their price objective on PAR Technology from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. 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 data from MarketBeat, PAR Technology presently has a consensus rating of “Moderate Buy” and an average target price of $77.38.

PAR Technology Price Performance

PAR opened at $73.00 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.80 and a current ratio of 2.13. The company’s 50 day moving average is $58.36 and its 200-day moving average is $51.64. PAR Technology has a 1-year low of $34.87 and a 1-year high of $76.10.

PAR Technology (NYSE:PAR) last issued its earnings results on Friday, November 8th. The software maker reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The firm had revenue of $96.80 million for the quarter, compared to analyst estimates of $91.01 million. PAR Technology had a negative net margin of 0.66% and a negative return on equity of 8.99%. The company’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.35) earnings per share. As a group, equities analysts expect that PAR Technology will post -1.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PAR Technology

A number of institutional investors and hedge funds have recently made changes to their positions in PAR. Arcadia Investment Management Corp MI bought a new position in PAR Technology in the second quarter worth approximately $32,000. Amalgamated Bank lifted its holdings 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 worth $55,000 after purchasing an additional 237 shares in the last quarter. LRI Investments LLC acquired a new stake in PAR Technology in the 1st quarter valued at $99,000. nVerses Capital LLC bought a new stake in PAR Technology during the 3rd quarter valued at $125,000. Finally, RiverPark Advisors LLC acquired a new position in PAR Technology during the second 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.