PAR Technology (NYSE:PAR) Reaches New 52-Week Low Following Analyst Downgrade

Shares of PAR Technology Corporation (NYSE:PAR) hit a new 52-week low during trading on Monday after The Goldman Sachs Group lowered their price target on the stock from $50.00 to $38.00. The Goldman Sachs Group currently has a neutral rating on the stock. PAR Technology traded as low as $35.97 and last traded at $36.06, with a volume of 621794 shares. The stock had previously closed at $36.20.

PAR has been the subject of a number of other research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of PAR Technology in a research note on Friday, July 11th. Benchmark dropped their price target on PAR Technology from $92.00 to $77.00 and set a “buy” rating for the company in a research note on Tuesday, August 19th. BTIG Research raised PAR Technology from a “neutral” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Friday, August 15th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of PAR Technology in a research report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.57.

Hedge Funds Weigh In On PAR Technology

Several institutional investors and hedge funds have recently modified their holdings of the stock. Huntington National Bank increased its holdings in shares of PAR Technology by 66.2% during the second quarter. Huntington National Bank now owns 437 shares of the software maker’s stock valued at $30,000 after acquiring an additional 174 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of PAR Technology by 68.6% during the second quarter. Advisors Asset Management Inc. now owns 563 shares of the software maker’s stock valued at $39,000 after acquiring an additional 229 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of PAR Technology by 3.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,233 shares of the software maker’s stock valued at $382,000 after acquiring an additional 234 shares in the last quarter. Victory Capital Management Inc. increased its holdings in PAR Technology by 7.8% in the 1st quarter. Victory Capital Management Inc. now owns 4,752 shares of the software maker’s stock worth $291,000 after buying an additional 343 shares in the last quarter. Finally, OneDigital Investment Advisors LLC increased its holdings in PAR Technology by 4.2% in the 1st quarter. OneDigital Investment Advisors LLC now owns 10,733 shares of the software maker’s stock worth $658,000 after buying an additional 432 shares in the last quarter.

PAR Technology Price Performance

The firm has a fifty day moving average of $46.13 and a 200 day moving average of $57.50. The company has a market capitalization of $1.46 billion, a P/E ratio of -16.03 and a beta of 1.65. 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 released its quarterly earnings data on Friday, August 8th. The software maker reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). PAR Technology had a negative return on equity of 3.16% and a negative net margin of 20.64%.The business had revenue of $112.40 million during the quarter, compared to the consensus estimate of $111.02 million. During the same quarter in the previous year, the business posted ($0.23) earnings per share. PAR Technology’s quarterly revenue was up 43.8% compared to the same quarter last year. On average, equities research analysts anticipate that PAR Technology Corporation will post -1.47 EPS for the current year.

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.