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

Needham & Company LLC reiterated their buy rating on shares of PAR Technology (NYSE:PAR - Free Report) in a report released on Friday,Benzinga reports. The brokerage currently has a $90.00 target price on the software maker's stock.

A number of other research analysts have also recently commented on the company. Lake Street Capital upped their price objective on PAR Technology from $57.00 to $77.00 and gave the company a "buy" rating in a report on Monday, November 11th. Craig Hallum increased their target price on PAR Technology from $65.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Benchmark lifted their target price on PAR Technology from $69.00 to $92.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. Stephens raised their price objective on shares of PAR Technology from $83.00 to $90.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. Finally, The Goldman Sachs Group lifted their price objective on shares of PAR Technology from $71.00 to $79.00 and gave the company a "neutral" rating in a report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, PAR Technology has a consensus rating of "Moderate Buy" and a consensus price target of $79.25.

PAR Technology Price Performance

Shares of NYSE:PAR traded up $2.57 during midday trading on Friday, hitting $74.08. The company's stock had a trading volume of 331,733 shares, compared to its average volume of 334,367. The company has a market cap of $2.69 billion, a P/E ratio of -296.31 and a beta of 2.21. PAR Technology has a 12-month low of $37.74 and a 12-month high of $82.24. The business's 50 day simple moving average is $73.47 and its 200 day simple moving average is $59.60. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.91 and a current ratio of 2.13.

PAR Technology (NYSE:PAR - Get Free Report) last posted its quarterly earnings results on Friday, November 8th. The software maker reported ($0.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.10) by $0.01. PAR Technology had a negative return on equity of 8.99% and a negative net margin of 0.66%. The business had revenue of $96.80 million during the quarter, compared to analyst estimates of $91.01 million. During the same period in the prior year, the business earned ($0.35) earnings per share. The business's revenue was down 9.6% compared to the same quarter last year. On average, analysts forecast that PAR Technology will post -1.47 EPS for the current year.

Hedge Funds Weigh In On PAR Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PAR. Arcadia Investment Management Corp MI purchased a new position in shares of PAR Technology in the 2nd quarter valued at $32,000. Amalgamated Bank grew its holdings in shares of PAR Technology by 25.5% during the second quarter. Amalgamated Bank now owns 1,166 shares of the software maker's stock worth $55,000 after purchasing an additional 237 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of PAR Technology during the third quarter worth about $125,000. Principal Financial Group Inc. purchased a new stake in shares of PAR Technology in the 2nd quarter valued at about $211,000. Finally, Victory Capital Management Inc. grew its stake in PAR Technology by 5.1% during the 3rd quarter. Victory Capital Management Inc. now owns 4,524 shares of the software maker's stock worth $236,000 after buying an additional 219 shares during the last quarter.

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.