Needham & Company LLC Cuts PAR Technology (NYSE:PAR) Price Target to $55.00

PAR Technology (NYSE:PAR) had its price target cut by Needham & Company LLC from $90.00 to $55.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the software maker’s stock.

Other equities analysts also recently issued research reports about the stock. The Goldman Sachs Group reduced their target price on shares of PAR Technology from $50.00 to $38.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. BTIG Research cut their price objective on shares of PAR Technology from $65.00 to $60.00 and set a “buy” rating for the company in a report on Friday. Weiss Ratings reissued a “sell (d)” rating on shares of PAR Technology in a report on Wednesday, October 8th. William Blair reaffirmed an “outperform” rating on shares of PAR Technology in a report on Tuesday, October 14th. Finally, Benchmark decreased their price objective on PAR Technology from $92.00 to $77.00 and set a “buy” rating on the stock in a research note on Tuesday, August 19th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $68.86.

PAR Technology Stock Performance

PAR stock traded down $0.09 during mid-day trading on Friday, hitting $38.58. The company had a trading volume of 344,890 shares, compared to its average volume of 598,482. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.49 and a current ratio of 1.70. The firm has a market cap of $1.57 billion, a PE ratio of -17.15 and a beta of 1.63. PAR Technology has a 12 month low of $32.56 and a 12 month high of $82.24. The stock’s fifty day moving average price is $39.74 and its two-hundred day moving average price is $54.77.

PAR Technology (NYSE:PAR) last posted its quarterly earnings results on Thursday, November 6th. The software maker reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). PAR Technology had a negative return on equity of 3.16% and a negative net margin of 20.64%.The firm had revenue of $119.18 million for the quarter, compared to the consensus estimate of $112.23 million. During the same quarter in the previous year, the company posted ($0.09) EPS. The firm’s revenue was up 23.1% compared to the same quarter last year. On average, analysts forecast that PAR Technology will post -1.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Nuveen LLC bought a new stake in PAR Technology in the first quarter valued at approximately $24,500,000. GW&K Investment Management LLC bought a new stake in PAR Technology during the 1st quarter valued at $24,018,000. Invesco Ltd. raised its holdings in PAR Technology by 24.1% during the 2nd quarter. Invesco Ltd. now owns 1,877,239 shares of the software maker’s stock valued at $130,224,000 after buying an additional 364,892 shares during the last quarter. Voss Capital LP boosted its position in PAR Technology by 16.9% during the 1st quarter. Voss Capital LP now owns 1,706,362 shares of the software maker’s stock valued at $104,668,000 after buying an additional 246,362 shares during the period. Finally, AXA S.A. grew its holdings in PAR Technology by 360.1% in the 2nd quarter. AXA S.A. now owns 298,985 shares of the software maker’s stock worth $20,741,000 after acquiring an additional 234,009 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.