PAR Technology (NYSE:PAR) Reaches New 52-Week Low – Here’s What Happened

PAR Technology Corporation (NYSE:PAR)’s stock price reached a new 52-week low on Wednesday . The company traded as low as $33.53 and last traded at $33.6570, with a volume of 596525 shares changing hands. The stock had previously closed at $35.59.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PAR. BTIG Research raised shares of PAR Technology from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Friday, August 15th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of PAR Technology in a report on Friday, July 11th. William Blair reaffirmed an “outperform” rating on shares of PAR Technology in a report on Tuesday, October 14th. Benchmark dropped their target price on PAR Technology from $92.00 to $77.00 and set a “buy” rating on the stock in a research report on Tuesday, August 19th. Finally, The Goldman Sachs Group decreased their price target on PAR Technology from $50.00 to $38.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $74.57.

PAR Technology Stock Down 2.1%

The firm has a 50 day moving average of $39.99 and a two-hundred day moving average of $54.91. The stock has a market capitalization of $1.35 billion, a PE ratio of -14.77 and a beta of 1.63. The company has a current ratio of 1.70, a quick ratio of 1.49 and a debt-to-equity ratio of 0.43.

PAR Technology (NYSE:PAR) last posted its 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). The firm had revenue of $119.18 million during the quarter, compared to analyst estimates of $112.23 million. PAR Technology had a negative net margin of 20.64% and a negative return on equity of 3.16%. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period last year, the company posted ($0.09) EPS. Equities research analysts anticipate that PAR Technology Corporation will post -1.47 earnings per share for the current year.

Institutional Trading of PAR Technology

Several large investors have recently modified their holdings of PAR. Huntington National Bank increased its stake in shares of PAR Technology by 66.2% during the 2nd quarter. Huntington National Bank now owns 437 shares of the software maker’s stock worth $30,000 after purchasing an additional 174 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in PAR Technology by 8,616.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the software maker’s stock valued at $32,000 after buying an additional 517 shares during the last quarter. Advisors Asset Management Inc. increased its position in PAR Technology by 68.6% during the second quarter. Advisors Asset Management Inc. now owns 563 shares of the software maker’s stock worth $39,000 after buying an additional 229 shares in the last quarter. GAMMA Investing LLC increased its position in PAR Technology by 232.4% during the first quarter. GAMMA Investing LLC now owns 698 shares of the software maker’s stock worth $43,000 after buying an additional 488 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in shares of PAR Technology by 161.7% in the first quarter. Assetmark Inc. now owns 785 shares of the software maker’s stock worth $48,000 after acquiring an additional 485 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.