PAR Technology (NYSE:PAR) Reaches New 12-Month Low – Time to Sell?

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of PAR Technology in a research report on Friday, July 11th. The Goldman Sachs Group reduced their price target on shares of PAR Technology from $50.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. William Blair reissued an “outperform” rating on shares of PAR Technology in a research report on Tuesday, October 14th. Weiss Ratings reissued a “sell (d)” rating on shares of PAR Technology in a research report on Wednesday, October 8th. Finally, Benchmark reduced their price target on shares of PAR Technology from $92.00 to $77.00 and set a “buy” rating on the stock in a research report on Tuesday, August 19th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $74.57.

PAR Technology Trading Down 5.4%

The company has a market capitalization of $1.37 billion, a P/E ratio of -14.96 and a beta of 1.63. The business has a fifty day moving average price of $40.75 and a 200 day moving average price of $55.21. The company has a quick ratio of 1.49, a current ratio of 1.70 and a debt-to-equity ratio of 0.43.

PAR Technology (NYSE:PAR) last issued its quarterly earnings results on Friday, August 8th. The software maker reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $112.40 million during the quarter, compared to the consensus estimate of $111.02 million. PAR Technology had a negative net margin of 20.64% and a negative return on equity of 3.16%. The business’s revenue for the quarter was up 43.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.23) earnings per share. On average, analysts expect that PAR Technology Corporation will post -1.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PAR Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in PAR. Huntington National Bank lifted its position in 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 buying an additional 174 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position 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 worth $32,000 after buying an additional 517 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in PAR Technology during the 3rd quarter worth about $36,000. Advisors Asset Management Inc. lifted its position in PAR Technology by 68.6% during the 2nd 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. Finally, GAMMA Investing LLC lifted its position in PAR Technology by 232.4% during the 1st 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.

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.