Needham & Company LLC Lowers PAR Technology (NYSE:PAR) Price Target to $25.00

PAR Technology (NYSE:PAR) had its price target reduced by research analysts at Needham & Company LLC from $30.00 to $25.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s price target would suggest a potential upside of 97.08% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. BTIG Research reduced their target price on shares of PAR Technology from $60.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, February 27th. William Blair restated an “outperform” rating on shares of PAR Technology in a research note on Friday, March 13th. Stephens cut their price target on shares of PAR Technology from $60.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Benchmark cut their price target on shares of PAR Technology from $42.00 to $33.00 and set a “buy” rating for the company in a research note on Monday, March 16th. Finally, The Goldman Sachs Group cut their price target on shares of PAR Technology from $40.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, PAR Technology has a consensus rating of “Moderate Buy” and a consensus target price of $33.20.

PAR Technology Trading Down 6.3%

NYSE PAR opened at $12.69 on Thursday. PAR Technology has a 1-year low of $12.42 and a 1-year high of $72.15. The company has a current ratio of 1.66, a quick ratio of 1.46 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $523.13 million, a PE ratio of -6.10 and a beta of 1.48. The firm’s fifty day simple moving average is $18.05 and its 200-day simple moving average is $29.87.

PAR Technology (NYSE:PAR) last released its quarterly earnings results on Thursday, February 26th. The software maker reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $120.10 million during the quarter, compared to analysts’ expectations of $116.39 million. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. As a group, sell-side analysts anticipate 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, insider Cathy A. King sold 6,109 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $17.49, for a total transaction of $106,846.41. Following the completion of the transaction, the insider owned 58,143 shares in the company, valued at $1,016,921.07. This trade represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Savneet Singh sold 57,605 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $17.49, for a total transaction of $1,007,511.45. Following the sale, the chief executive officer directly owned 252,537 shares of the company’s stock, valued at approximately $4,416,872.13. The trade was a 18.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have bought 526,202 shares of company stock worth $14,669,269 and have sold 90,689 shares worth $1,600,226. Company insiders own 3.70% of the company’s stock.

Institutional Trading of PAR Technology

Several hedge funds have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. increased its holdings in shares of PAR Technology by 3.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,916,459 shares of the software maker’s stock worth $214,650,000 after buying an additional 201,782 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of PAR Technology by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 3,304,052 shares of the software maker’s stock worth $119,871,000 after buying an additional 12,250 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of PAR Technology by 17.3% during the third quarter. Capital Research Global Investors now owns 3,237,004 shares of the software maker’s stock worth $128,121,000 after buying an additional 476,839 shares in the last quarter. Progeny 3 Inc. increased its holdings in shares of PAR Technology by 18.7% during the fourth quarter. Progeny 3 Inc. now owns 2,056,308 shares of the software maker’s stock worth $74,603,000 after buying an additional 323,990 shares in the last quarter. Finally, Bamco Inc. NY increased its holdings in shares of PAR Technology by 8.5% during the second quarter. Bamco Inc. NY now owns 1,751,387 shares of the software maker’s stock worth $121,494,000 after buying an additional 137,434 shares in the last quarter.

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.