PAR Technology (NYSE:PAR) Hits New 1-Year Low - Here's What Happened

Key Points

• PAR Technology Corporation's stock reached a new 52-week low of $41.35, closing at $41.88 amidst significant trading volume of 111,617 shares.
• Despite recent struggles, analysts maintain a consensus rating of "Moderate Buy", with a target price averaging $78.43, and several firms including Needham & Company and BTIG Research have reiterated buy ratings.
• The company reported $112.40 million in revenue for the last quarter, a 43.8% increase year-over-year, although it missed EPS estimates with a reported $0.03.

Shares of PAR Technology Corporation (NYSE:PAR - Get Free Report) reached a new 52-week low on Monday . The company traded as low as $41.35 and last traded at $41.88, with a volume of 111617 shares trading hands. The stock had previously closed at $42.32.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PAR shares. Benchmark dropped their price target on PAR Technology from $92.00 to $77.00 and set a "buy" rating for the company in a report 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 report on Friday, August 15th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 price target on shares of PAR Technology in a report on Friday, July 11th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.43.

PAR Technology Trading Up 0.1%

The company has a market cap of $1.71 billion, a P/E ratio of -18.62 and a beta of 1.64. The company has a quick ratio of 1.49, a current ratio of 1.70 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average price of $54.51 and a two-hundred day moving average price of $59.91.

PAR Technology (NYSE:PAR - Get Free Report) last released its earnings results on Friday, August 8th. 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 3.16% and a negative net margin of 20.64%.The firm had revenue of $112.40 million for the quarter, compared to the consensus estimate of $111.02 million. During the same quarter in the previous year, the firm earned ($0.23) EPS. The company's revenue was up 43.8% compared to the same quarter last year. On average, analysts predict that PAR Technology Corporation will post -1.47 EPS for the current year.

Institutional Investors Weigh In On PAR Technology

A number of institutional investors have recently made changes to their positions in PAR. Huntington National Bank grew its stake 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 worth $30,000 after purchasing an additional 174 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in PAR Technology by 8,616.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the software maker's stock worth $32,000 after acquiring an additional 517 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in PAR Technology by 68.6% during the second quarter. Advisors Asset Management Inc. now owns 563 shares of the software maker's stock worth $39,000 after acquiring an additional 229 shares in the last quarter. NBC Securities Inc. bought a new position in PAR Technology during the first quarter worth about $40,000. Finally, Versant Capital Management Inc lifted its holdings in PAR Technology by 996.6% during the first quarter. Versant Capital Management Inc now owns 647 shares of the software maker's stock worth $40,000 after acquiring an additional 588 shares in the last quarter.

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.