PAR Technology (NYSE:PAR) Shares Gap Down to $52.08

PAR Technology Co. (NYSE:PAR) shares gapped down before the market opened on Wednesday . The stock had previously closed at $52.08, but opened at $50.89. PAR Technology shares last traded at $51.00, with a volume of 27,606 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Stephens raised PAR Technology from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $46.00 to $60.00 in a research report on Thursday, June 13th. The Goldman Sachs Group upped their price objective on PAR Technology from $45.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Jefferies Financial Group raised PAR Technology from a “hold” rating to a “buy” rating and upped their target price for the company from $45.00 to $60.00 in a research report on Monday, August 12th. Needham & Company LLC increased their price objective on PAR Technology from $57.00 to $60.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, StockNews.com upgraded PAR Technology to a “sell” rating in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

PAR Technology Stock Performance

The company has a fifty day moving average of $52.84 and a 200 day moving average of $47.79. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.12 and a quick ratio of 2.80. The stock has a market cap of $1.72 billion, a P/E ratio of -19.84 and a beta of 2.17.

PAR Technology (NYSE:PAR) last posted its quarterly earnings results on Thursday, August 8th. The software maker reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.05). PAR Technology had a negative return on equity of 10.93% and a net margin of 0.44%. The business had revenue of $78.20 million during the quarter, compared to analyst estimates of $115.14 million. During the same period last year, the company earned ($0.65) EPS. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, equities analysts predict that PAR Technology Co. will post -1.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Arcadia Investment Management Corp MI acquired a new position in shares of PAR Technology in the 2nd quarter valued at approximately $32,000. Amalgamated Bank boosted its stake in PAR Technology by 25.5% during the second quarter. Amalgamated Bank now owns 1,166 shares of the software maker’s stock worth $55,000 after acquiring an additional 237 shares in the last quarter. NBC Securities Inc. bought a new position in PAR Technology during the first quarter worth $76,000. Central Pacific Bank Trust Division bought a new position in shares of PAR Technology in the first quarter valued at $78,000. Finally, LRI Investments LLC bought a new position in shares of PAR Technology during the first quarter valued at about $99,000.

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.