PAR Technology (NYSE:PAR) Hits New 12-Month Low - Should You Sell?

Key Points

• Shares of PAR Technology Corporation reached a new 52-week low of $42.86 amid trading, closing slightly higher at $43.18 with a volume of over 1.15 million shares.
• Brokerages have issued mixed ratings, with Benchmark lowering its price target to $77.00 while Needham & Company maintains a $90.00 target, reflecting an overall consensus rating of "Moderate Buy."
• Despite a 43.8% year-over-year revenue increase to $112.40 million, PAR Technology reported an EPS of $0.03, falling short of estimates, with analysts projecting a -1.47 EPS for the current year.

PAR Technology Corporation (NYSE:PAR - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $42.86 and last traded at $43.18, with a volume of 1155462 shares trading hands. The stock had previously closed at $44.02.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PAR. Benchmark lowered their price target on shares of PAR Technology from $92.00 to $77.00 and set a "buy" rating on the stock in a report on Tuesday, August 19th. BTIG Research raised shares of PAR Technology from a "neutral" rating to a "buy" rating and set a $65.00 price objective for the company in a research note on Friday, August 15th. Finally, Needham & Company LLC reissued a "buy" rating and set a $90.00 price objective on shares of PAR Technology in a report on Friday, July 11th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $78.43.

PAR Technology Stock Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 1.70 and a quick ratio of 1.49. The stock has a 50-day moving average price of $55.05 and a 200 day moving average price of $60.11. The company has a market cap of $1.72 billion, a price-to-earnings ratio of -18.84 and a beta of 1.64.

PAR Technology (NYSE:PAR - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The software maker reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm 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 business's revenue for the quarter was up 43.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.23) earnings per share. As a group, analysts anticipate that PAR Technology Corporation will post -1.47 EPS for the current fiscal year.

Institutional Investors Weigh In On PAR Technology

A number of hedge funds and other institutional investors have recently modified their holdings of PAR. Huntington National Bank grew its holdings in shares of PAR Technology by 66.2% during the 2nd quarter. Huntington National Bank now owns 437 shares of the software maker's stock worth $30,000 after acquiring an additional 174 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in PAR Technology by 8,616.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the software maker's stock worth $32,000 after buying an additional 517 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of PAR Technology by 68.6% during the second 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 in the last quarter. NBC Securities Inc. bought a new position in shares of PAR Technology in the 1st quarter valued at about $40,000. Finally, Versant Capital Management Inc lifted its holdings in shares of PAR Technology by 996.6% in the 1st quarter. Versant Capital Management Inc now owns 647 shares of the software maker's stock valued at $40,000 after acquiring an additional 588 shares during the last quarter.

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.