PAR Technology (NYSE:PAR) Sets New 52-Week Low - What's Next?

Key Points

• Shares of PAT Technology have set a new 52-week low, trading as low as $37.35, amid a 1.5% decline in trading.
• Analysts have mixed views on PAR Technology, with six rating it as a Buy, two a Hold, and one a Sell, leading to an average price target of $78.43.
• The company reported a 43.8% increase in revenue year-over-year, yet missed earnings expectations, reporting $0.03 per share against a consensus of $0.04.

Shares of PAR Technology Corporation (NYSE:PAR - Get Free Report) hit a new 52-week low during trading on Tuesday . The company traded as low as $37.35 and last traded at $37.57, with a volume of 56622 shares trading hands. The stock had previously closed at $37.90.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. BTIG Research raised shares of PAR Technology from a "neutral" rating to a "buy" rating and set a $65.00 price target for the company in a research report on Friday, August 15th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of PAR Technology in a research report on Saturday, September 27th. Needham & Company LLC reiterated a "buy" rating and set a $90.00 target price on shares of PAR Technology in a research note on Friday, July 11th. Finally, Benchmark cut their target price 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. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $78.43.

PAR Technology Trading Down 1.5%

The company has a current ratio of 1.70, a quick ratio of 1.49 and a debt-to-equity ratio of 0.43. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of -16.58 and a beta of 1.65. The company has a fifty day simple moving average of $48.55 and a 200-day simple moving average of $58.40.

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 the consensus estimate of $0.04 by ($0.01). The firm had revenue of $112.40 million during the quarter, compared to analysts' expectations of $111.02 million. PAR Technology had a negative return on equity of 3.16% and a negative net margin of 20.64%.The business's revenue was up 43.8% on a year-over-year basis. During the same period last year, the business earned ($0.23) earnings per share. On average, research analysts forecast that PAR Technology Corporation will post -1.47 earnings per share for the current fiscal year.

Institutional Trading of PAR Technology

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in PAR Technology by 2.5% during the first quarter. Vanguard Group Inc. now owns 2,898,114 shares of the software maker's stock valued at $177,770,000 after buying an additional 69,546 shares during the period. Invesco Ltd. grew its stake in PAR Technology by 24.1% during the 2nd quarter. Invesco Ltd. now owns 1,877,239 shares of the software maker's stock valued at $130,224,000 after acquiring an additional 364,892 shares in the last quarter. Bamco Inc. NY grew its stake in PAR Technology by 8.5% during the 2nd quarter. Bamco Inc. NY now owns 1,751,387 shares of the software maker's stock valued at $121,494,000 after acquiring an additional 137,434 shares in the last quarter. Voss Capital LP increased its holdings in shares of PAR Technology by 16.9% in the 1st quarter. Voss Capital LP now owns 1,706,362 shares of the software maker's stock valued at $104,668,000 after purchasing an additional 246,362 shares during the period. Finally, Progeny 3 Inc. boosted its holdings in shares of PAR Technology by 12.0% during the second quarter. Progeny 3 Inc. now owns 1,482,395 shares of the software maker's stock worth $102,834,000 after purchasing an additional 158,887 shares during the period.

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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