Fintel reports that on August 10, 2023, Needham reiterated coverage of Par Technology (NYSE:PAR) with a Buy recommendation.
Analyst Price Forecast Suggests 21.46% Upside
As of August 2, 2023, the average one-year price target for Par Technology is 40.80. The forecasts range from a low of 34.34 to a high of $49.35. The average price target represents an increase of 21.46% from its latest reported closing price of 33.59.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Par Technology is 382MM, a decrease of 2.39%. The projected annual non-GAAP EPS is -0.92.
What is the Fund Sentiment?
There are 307 funds or institutions reporting positions in Par Technology. This is a decrease of 14 owner(s) or 4.36% in the last quarter. Average portfolio weight of all funds dedicated to PAR is 0.45%, an increase of 26.03%. Total shares owned by institutions increased in the last three months by 7.51% to 38,152K shares. 
The put/call ratio of PAR is 0.28, indicating a bullish outlook.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 3,565K shares representing 13.01% ownership of the company. In it's prior filing, the firm reported owning 2,449K shares, representing an increase of 31.30%. The firm increased its portfolio allocation in PAR by 77.18% over the last quarter.
Capital Research Global Investors holds 2,978K shares representing 10.87% ownership of the company. No change in the last quarter.
SMCWX - SMALLCAP WORLD FUND INC holds 2,140K shares representing 7.81% ownership of the company. No change in the last quarter.
ADW Capital Management holds 1,650K shares representing 6.02% ownership of the company. No change in the last quarter.
OTCFX - T. Rowe Price Small-Cap Stock Fund holds 1,509K shares representing 5.51% ownership of the company. In it's prior filing, the firm reported owning 1,039K shares, representing an increase of 31.11%. The firm increased its portfolio allocation in PAR by 82.05% over the last quarter.
Par Technology Background Information
(This description is provided by the company.)
PAR Technology Corporation through its wholly owned subsidiary ParTech, Inc., is a customer success-driven, global restaurant and retail technology company with over 100,000 restaurants in more than 110 countries using its point of sale hardware and software. ParTech's Brink POS® integration ecosystem enables quick service, fast casual and table service restaurants to improve their operational efficiency by combining its cloud-based POS software with the world's leading restaurant technology platforms. PAR Technology's Government segment is a leader in providing computer-based system design, engineering and technical services to the Department of Defense and various other federal agencies.
Additional reading:
- PAR TECHNOLOGY CORPORATION ANNOUNCES FIRST QUARTER 2023 RESULTS
- Q1 ‘23 Earnings Presentation May 10, 2023 NYSE: PAR Forward-Looking Statements. This presentation contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, Section 27A of the Securities
- Amendment to Employment Letter between PAR Technology Corporation and Savneet Singh, dated May 9, 2023
- PAR TECHNOLOGY CORPORATION ANNOUNCES FOURTH QUARTER AND FULL YEAR 2022 RESULTS
- Q4 ‘22 Earnings Presentation March 1, 2023 NYSE: PAR Forward-Looking Statements. This presentation contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, Section 27A of the Securities
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
