PAR Technology (NYSE:PAR) Sets New 1-Year Low After Earnings Miss

Key Points

• Shares of PAR Technology Corporation fell to a new 52-week low of $46.38 after the company reported quarterly earnings that missed expectations, with an EPS of $0.03 compared to a forecast of $0.04.
• The company's revenue increased by 43.8% year-over-year to $112.40 million, exceeding analysts' expectations, but it posted a negative net margin of 2.88%.
• Despite recent challenges, the average rating for PAR Technology remains a "Moderate Buy" with a target price of $79.86, as several analysts continue to support the stock.

PAR Technology Corporation (NYSE:PAR - Get Free Report)'s share price hit a new 52-week low during trading on Saturday following a weaker than expected earnings announcement. The company traded as low as $46.38 and last traded at $46.95, with a volume of 5339499 shares traded. The stock had previously closed at $58.03.

The software maker reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). PAR Technology had a negative return on equity of 3.22% and a negative net margin of 20.64%. The firm had revenue of $112.40 million for the quarter, compared to analyst estimates of $111.02 million. During the same period in the previous year, the company earned ($0.23) earnings per share. PAR Technology's revenue for the quarter was up 43.8% compared to the same quarter last year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PAR shares. The Goldman Sachs Group increased their price target on PAR Technology from $57.00 to $65.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Needham & Company LLC reissued a "buy" rating and issued a $90.00 price target on shares of PAR Technology in a research report on Friday, July 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $79.86.

Insider Transactions at PAR Technology

In other PAR Technology news, Director Douglas Gregory Rauch sold 1,000 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $69.98, for a total value of $69,980.00. Following the completion of the transaction, the director owned 11,760 shares in the company, valued at $822,964.80. This represents a 7.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in PAR Technology by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 2,898,114 shares of the software maker's stock valued at $177,770,000 after purchasing an additional 69,546 shares during the period. Voss Capital LP increased its holdings in PAR Technology by 16.9% in the 1st quarter. Voss Capital LP now owns 1,706,362 shares of the software maker's stock worth $104,668,000 after acquiring an additional 246,362 shares during the last quarter. Invesco Ltd. increased its holdings in PAR Technology by 17.8% in the 1st quarter. Invesco Ltd. now owns 1,512,347 shares of the software maker's stock worth $92,767,000 after acquiring an additional 228,369 shares during the last quarter. Geode Capital Management LLC increased its holdings in PAR Technology by 13.2% in the 2nd quarter. Geode Capital Management LLC now owns 942,503 shares of the software maker's stock worth $65,389,000 after acquiring an additional 110,160 shares during the last quarter. Finally, Reinhart Partners LLC. increased its holdings in PAR Technology by 2.9% in the 2nd quarter. Reinhart Partners LLC. now owns 883,792 shares of the software maker's stock worth $61,310,000 after acquiring an additional 24,949 shares during the last quarter.

PAR Technology Trading Up 4.6%

The firm has a fifty day moving average of $65.27 and a two-hundred day moving average of $63.92. The company has a market cap of $1.98 billion, a PE ratio of -21.72 and a beta of 1.70. The company has a current ratio of 2.05, a quick ratio of 1.83 and a debt-to-equity ratio of 0.46.

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.