PAR Technology (NYSE:PAR) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Key Points

• PAR Technology reported a quarterly earnings per share (EPS) of $0.03, missing analysts' expectations by $0.01.
• The company's revenue of $112.40 million surpassed the consensus estimate of $111.02 million, showing a year-over-year increase of 43.8%.
• Shares of PAR Technology dropped 19.1%, closing at $46.95 following the earnings announcement.

PAR Technology (NYSE:PAR - Get Free Report) announced its quarterly earnings data on Friday. The software maker reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01), Briefing.com reports. PAR Technology had a negative net margin of 20.64% and a negative return on equity of 3.16%. The business had revenue of $112.40 million during the quarter, compared to analysts' expectations of $111.02 million. During the same period last year, the company posted ($0.23) EPS. PAR Technology's revenue for the quarter was up 43.8% on a year-over-year basis.

PAR Technology Trading Up 0.8%

NYSE:PAR traded up $0.41 during midday trading on Thursday, reaching $51.62. 436,712 shares of the stock traded hands, compared to its average volume of 494,508. The company has a fifty day moving average of $64.66 and a 200 day moving average of $63.73. PAR Technology has a 12 month low of $46.24 and a 12 month high of $82.24. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.83 and a current ratio of 1.70. The stock has a market capitalization of $2.09 billion, a P/E ratio of -22.94 and a beta of 1.70.

Insider Buying and Selling

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 shares were sold at an average price of $69.98, for a total value of $69,980.00. Following the completion of the transaction, the director directly owned 11,760 shares in the company, valued at approximately $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 can be accessed through the SEC website. Company insiders own 3.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PAR. AQR Capital Management LLC bought a new position in PAR Technology in the 1st quarter worth $309,000. Jones Financial Companies Lllp raised its holdings in PAR Technology by 186,466.7% in the 1st quarter. Jones Financial Companies Lllp now owns 5,597 shares of the software maker's stock worth $343,000 after purchasing an additional 5,594 shares in the last quarter. Prudential Financial Inc. bought a new position in PAR Technology in the 2nd quarter worth $355,000. Hsbc Holdings PLC bought a new position in shares of PAR Technology in the 2nd quarter worth about $356,000. Finally, WINTON GROUP Ltd bought a new position in shares of PAR Technology in the 2nd quarter worth about $563,000.

Wall Street Analyst Weigh In

PAR has been the subject of a number of research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $90.00 price objective on shares of PAR Technology in a research note on Friday, July 11th. The Goldman Sachs Group upped their price target on shares of PAR Technology from $57.00 to $65.00 and gave the company a "neutral" rating in a report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $83.17.

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.