PAR Technology (NYSE:PAR) Sets New 52-Week Low - Here's Why

Key Points

• PAR Technology's share price has reached a new 52-week low of $38.82 during trading, closing at $38.96 with a significant trading volume.
• Despite the recent drop in stock price, several analysts maintain a buy rating for PAR Technology, with a consensus price target of $78.43.
• The company reported positive revenue growth of 43.8% year-over-year, although it missed earnings expectations for the latest quarter.

PAR Technology Corporation (NYSE:PAR - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $38.82 and last traded at $38.96, with a volume of 141547 shares. The stock had previously closed at $40.14.

Analyst Ratings Changes

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

PAR Technology Trading Down 3.4%

The firm has a market capitalization of $1.57 billion, a PE ratio of -17.23 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 stock's fifty day simple moving average is $51.63 and its 200 day simple moving average is $59.20.

PAR Technology (NYSE:PAR - Get Free Report) last announced its earnings results on Friday, August 8th. The software maker reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). 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 for the quarter, compared to analysts' expectations of $111.02 million. During the same period in the prior year, the company posted ($0.23) earnings per share. The firm's quarterly revenue was up 43.8% on a year-over-year basis. On average, sell-side analysts predict that PAR Technology Corporation will post -1.47 earnings per share for the current year.

Institutional Trading of PAR Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. Huntington National Bank increased its stake in shares of PAR Technology by 66.2% in 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 in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings 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 valued at $32,000 after acquiring an additional 517 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of PAR Technology by 68.6% during the 2nd 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 during the last quarter. Versant Capital Management Inc boosted its position in shares of PAR Technology by 996.6% during 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. Finally, NBC Securities Inc. bought a new position in PAR Technology during the 1st quarter valued at about $40,000.

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.

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