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

PAR Technology (NYSE:PAR)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a research report issued on Monday,Benzinga reports. They currently have a $90.00 price objective on the software maker’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 29.03% from the stock’s current price.

A number of other analysts have also recently commented on the stock. StockNews.com upgraded shares of PAR Technology to a “sell” rating in a research note on Monday, March 3rd. Citigroup restated a “neutral” rating on shares of PAR Technology in a research note on Friday, February 28th. Stephens restated an “overweight” rating and set a $90.00 target price on shares of PAR Technology in a research note on Friday, February 28th. Craig Hallum restated a “buy” rating on shares of PAR Technology in a research note on Friday, February 28th. Finally, Benchmark restated a “buy” rating on shares of PAR Technology in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $79.86.

PAR Technology Stock Performance

Shares of PAR opened at $69.75 on Monday. PAR Technology has a 12 month low of $41.86 and a 12 month high of $82.24. The firm has a fifty day simple moving average of $59.27 and a 200 day simple moving average of $67.22. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of -278.99 and a beta of 1.76. The company has a current ratio of 2.13, a quick ratio of 1.91 and a debt-to-equity ratio of 0.67.

PAR Technology (NYSE:PAR) last announced its quarterly earnings results on Friday, May 9th. The software maker reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. The firm had revenue of $103.86 million during the quarter, compared to analysts’ expectations of $105.16 million. PAR Technology had a negative net margin of 0.66% and a negative return on equity of 8.99%. The company’s revenue for the quarter was up 48.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.36) earnings per share. Research analysts forecast that PAR Technology will post -1.47 EPS for the current fiscal year.

Hedge Funds Weigh In On PAR Technology

A number of hedge funds have recently bought and sold shares of the business. Invesco Ltd. increased its holdings in PAR Technology by 100.9% in the 4th quarter. Invesco Ltd. now owns 1,283,978 shares of the software maker’s stock valued at $93,307,000 after buying an additional 644,920 shares during the period. Loomis Sayles & Co. L P bought a new position in PAR Technology in the 4th quarter valued at about $33,011,000. Hood River Capital Management LLC bought a new position in PAR Technology in the 4th quarter valued at about $30,392,000. Nuveen LLC bought a new position in PAR Technology in the 1st quarter valued at about $24,500,000. Finally, GW&K Investment Management LLC bought a new position in PAR Technology in the 1st quarter valued at about $24,018,000.

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.