PAR Technology (NYSE:PAR) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of PAR Technology (NYSE:PAR) in a research report released on Monday morning,Benzinga reports. They currently have a $90.00 price objective on the software maker’s stock.

Other research analysts also recently issued reports about the stock. Stephens restated an “overweight” rating and set a $90.00 price objective on shares of PAR Technology in a research report on Friday, February 28th. Citigroup reiterated a “neutral” rating on shares of PAR Technology in a report on Friday, February 28th. StockNews.com upgraded shares of PAR Technology to a “sell” rating in a report on Monday, March 3rd. Craig Hallum reiterated a “buy” rating on shares of PAR Technology in a report on Friday, February 28th. Finally, Benchmark reiterated a “buy” rating on shares of PAR Technology in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, PAR Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.86.

PAR Technology Stock Up 2.3%

Shares of PAR opened at $66.24 on Monday. PAR Technology has a one year low of $41.27 and a one year high of $82.24. The company has a market cap of $2.68 billion, a P/E ratio of -264.93 and a beta of 1.76. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.13 and a quick ratio of 1.91. The firm has a 50 day simple moving average of $59.27 and a two-hundred day simple moving average of $67.22.

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

Institutional Trading of PAR Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Nuveen LLC acquired a new stake in PAR Technology in the first quarter valued at $24,500,000. Rovida Advisors Inc. boosted its position in PAR Technology by 30.6% during the first quarter. Rovida Advisors Inc. now owns 326,494 shares of the software maker’s stock valued at $20,027,000 after acquiring an additional 76,494 shares during the last quarter. Invesco Ltd. boosted its position in PAR Technology by 17.8% during the first quarter. Invesco Ltd. now owns 1,512,347 shares of the software maker’s stock valued at $92,767,000 after acquiring an additional 228,369 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in PAR Technology by 10.3% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 95,240 shares of the software maker’s stock valued at $5,842,000 after acquiring an additional 8,895 shares during the last quarter. Finally, Cynosure Group LLC boosted its position in PAR Technology by 30.3% during the first quarter. Cynosure Group LLC now owns 5,177 shares of the software maker’s stock valued at $318,000 after acquiring an additional 1,204 shares during the last quarter.

PAR Technology Company Profile

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.