PAR Technology (NYSE:PAR) Sets New 12-Month Low – What’s Next?

PAR Technology Corporation (NYSE:PAR) shares hit a new 52-week low on Thursday . The company traded as low as $31.89 and last traded at $32.3650, with a volume of 504168 shares changing hands. The stock had previously closed at $33.96.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group lowered their price objective on shares of PAR Technology from $50.00 to $38.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. BTIG Research reduced their target price on shares of PAR Technology from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Needham & Company LLC reiterated a “buy” rating and set a $55.00 target price on shares of PAR Technology in a report on Thursday, November 13th. Benchmark dropped their price target 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. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of PAR Technology in a report on Wednesday. Six 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $64.00.

PAR Technology Stock Down 4.5%

The firm’s 50 day simple moving average is $38.04 and its 200-day simple moving average is $53.57. The company has a current ratio of 1.70, a quick ratio of 1.49 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -14.40 and a beta of 1.63.

PAR Technology (NYSE:PAR) last announced its quarterly earnings data 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 net margin of 20.64% and a negative return on equity of 3.16%. The company had revenue of $119.18 million during the quarter, compared to the consensus estimate of $112.23 million. During the same quarter in the previous year, the business earned ($0.09) EPS. PAR Technology’s revenue was up 23.1% on a year-over-year basis. Equities analysts expect that PAR Technology Corporation will post -1.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PAR Technology

Several hedge funds and other institutional investors have recently made changes to their positions in PAR. Huntington National Bank lifted its stake in PAR Technology by 66.2% in 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 during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of PAR Technology by 68.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 563 shares of the software maker’s stock valued at $39,000 after purchasing an additional 229 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in PAR Technology by 3.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,233 shares of the software maker’s stock valued at $382,000 after purchasing an additional 234 shares during the last quarter. Victory Capital Management Inc. grew its holdings in PAR Technology by 7.8% during the first quarter. Victory Capital Management Inc. now owns 4,752 shares of the software maker’s stock worth $291,000 after purchasing an additional 343 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its holdings in PAR Technology by 9.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 5,095 shares of the software maker’s stock worth $353,000 after purchasing an additional 437 shares during the period.

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.