PAR Technology (NYSE:PAR) Given New $25.00 Price Target at Needham & Company LLC

PAR Technology (NYSE:PAR) had its target price reduced by Needham & Company LLC from $30.00 to $25.00 in a report published on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the software maker’s stock.

Several other equities research analysts have also commented on PAR. Weiss Ratings reiterated a “sell (d-)” rating on shares of PAR Technology in a research note on Friday, March 27th. Benchmark cut their price target on shares of PAR Technology from $42.00 to $33.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. Stephens lowered their price objective on shares of PAR Technology from $60.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. The Goldman Sachs Group lowered their price objective on shares of PAR Technology from $40.00 to $18.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Finally, BTIG Research lowered their price objective on shares of PAR Technology from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.20.

PAR Technology Price Performance

Shares of NYSE:PAR opened at $12.00 on Thursday. The company’s fifty day moving average price is $17.74 and its 200 day moving average price is $29.74. PAR Technology has a 12 month low of $11.83 and a 12 month high of $72.15. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.66 and a quick ratio of 1.46. The firm has a market capitalization of $494.73 million, a P/E ratio of -5.77 and a beta of 1.48.

PAR Technology (NYSE:PAR) last announced its quarterly earnings results on Thursday, February 26th. The software maker reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.16. PAR Technology had a negative net margin of 18.54% and a negative return on equity of 2.32%. The firm had revenue of $120.10 million for the quarter, compared to analyst estimates of $116.39 million. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. As a group, sell-side analysts predict that PAR Technology will post -1.47 earnings per share for the current fiscal year.

Insider Buying and Selling at PAR Technology

In other PAR Technology news, major shareholder Voss Capital, Lp acquired 182,862 shares of the stock in a transaction on Tuesday, February 3rd. The shares were bought at an average cost of $22.89 per share, with a total value of $4,185,711.18. Following the transaction, the insider owned 4,075,000 shares of the company’s stock, valued at approximately $93,276,750. This trade represents a 4.70% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Cathy A. King sold 6,109 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $17.49, for a total transaction of $106,846.41. Following the transaction, the insider directly owned 58,143 shares in the company, valued at $1,016,921.07. The trade was a 9.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders purchased 526,202 shares of company stock valued at $14,669,269 and sold 90,689 shares valued at $1,600,226. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. ProShare Advisors LLC increased its stake in shares of PAR Technology by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 7,330 shares of the software maker’s stock worth $266,000 after acquiring an additional 471 shares during the period. SkyView Investment Advisors LLC increased its stake in shares of PAR Technology by 3.3% during the second quarter. SkyView Investment Advisors LLC now owns 16,915 shares of the software maker’s stock worth $1,153,000 after acquiring an additional 548 shares during the period. &PARTNERS increased its stake in shares of PAR Technology by 10.6% during the fourth quarter. &PARTNERS now owns 6,444 shares of the software maker’s stock worth $234,000 after acquiring an additional 620 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of PAR Technology by 6.8% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 9,835 shares of the software maker’s stock worth $357,000 after acquiring an additional 622 shares during the period. Finally, FNY Investment Advisers LLC acquired a new position in shares of PAR Technology during the third quarter worth about $26,000.

About PAR Technology

PAR Technology Corp is a provider of enterprise software and hardware solutions for the hospitality, foodservice and retail industries. The company’s platforms are designed to streamline front- and back-of-house operations, covering point-of-sale (POS) systems, kitchen display and dispatch, inventory and labor management, and reporting tools. PAR’s integrated approach enables operators of full-service restaurants, quick-service chains, bars, hotels, casinos and retail outlets to centralize data and automate workflows across multiple sites.

Key offerings include PAR Brink, a cloud-native POS application that supports touchscreen, mobile and tablet devices; PAR Cloud Services, which delivers software updates, reporting and analytics through a subscription model; and hardware solutions such as payment terminals, handheld devices and self-service kiosks.