PAR Technology (NYSE:PAR) Reaches New 52-Week Low on Analyst Downgrade

Key Points

• PAR Technology Corporation hit a new 52-week low of $35.97 following a downgrade by Goldman Sachs, which lowered the price target from $50 to $38 and currently holds a neutral rating.
• Despite the downgrade, the average rating for PAR Technology is a "Moderate Buy", with several analysts maintaining buy ratings while the average price target remains at $74.57.
• In the first quarter, multiple large investors significantly increased their stakes in PAR Technology, including Farther Finance Advisors LLC, which lifted its investment by over 8,631%.

PAR Technology Corporation (NYSE:PAR - Get Free Report)'s share price reached a new 52-week low during trading on Monday after The Goldman Sachs Group lowered their price target on the stock from $50.00 to $38.00. The Goldman Sachs Group currently has a neutral rating on the stock. PAR Technology traded as low as $35.97 and last traded at $36.06, with a volume of 621794 shares traded. The stock had previously closed at $36.20.

A number of other equities research analysts have also recently weighed in on the stock. Weiss Ratings restated a "sell (d)" rating on shares of PAR Technology in a research note on Wednesday, October 8th. Benchmark lowered their price target on PAR Technology from $92.00 to $77.00 and set a "buy" rating for the company in a research note on Tuesday, August 19th. Needham & Company LLC restated a "buy" rating and issued a $90.00 target price on shares of PAR Technology in a report on Friday, July 11th. Finally, BTIG Research upgraded 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. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, PAR Technology presently has an average rating of "Moderate Buy" and an average price target of $74.57.

Hedge Funds Weigh In On PAR Technology

Large investors have recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in PAR Technology by 8,631.3% in the first quarter. Farther Finance Advisors LLC now owns 1,397 shares of the software maker's stock valued at $86,000 after buying an additional 1,381 shares during the period. Russell Investments Group Ltd. raised its position in shares of PAR Technology by 415.9% during the first quarter. Russell Investments Group Ltd. now owns 43,213 shares of the software maker's stock worth $2,651,000 after purchasing an additional 34,837 shares during the period. Rovida Advisors Inc. raised its position in shares of PAR Technology by 30.6% during the first quarter. Rovida Advisors Inc. now owns 326,494 shares of the software maker's stock worth $20,027,000 after purchasing an additional 76,494 shares during the period. Commerce Bank acquired a new stake in shares of PAR Technology during the first quarter worth about $267,000. Finally, GAMMA Investing LLC raised its position in shares of PAR Technology by 232.4% during the first quarter. GAMMA Investing LLC now owns 698 shares of the software maker's stock worth $43,000 after purchasing an additional 488 shares during the period.

PAR Technology Stock Performance

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 firm has a market capitalization of $1.46 billion, a P/E ratio of -16.03 and a beta of 1.65. The stock has a fifty day moving average of $46.62 and a 200-day moving average of $57.68.

PAR Technology (NYSE:PAR - Get Free Report) last posted its quarterly 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). The company 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 firm's revenue for the quarter was up 43.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.23) earnings per share. On average, research analysts anticipate that PAR Technology Corporation will post -1.47 EPS for the current year.

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.

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