PAR Technology (NYSE:PAR) Shares Gap Up – What’s Next?

Shares of PAR Technology Corporation (NYSE:PAR) gapped up prior to trading on Friday . The stock had previously closed at $33.17, but opened at $36.90. PAR Technology shares last traded at $38.30, with a volume of 153,517 shares changing hands.

Analyst Ratings Changes

A number of analysts recently weighed in on PAR shares. The Goldman Sachs Group cut their target price on shares of PAR Technology from $50.00 to $38.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Weiss Ratings reissued a “sell (d)” rating on shares of PAR Technology in a research report on Wednesday, October 8th. William Blair reaffirmed an “outperform” rating on shares of PAR Technology in a report on Tuesday, October 14th. Benchmark dropped their price target on shares of PAR Technology from $92.00 to $77.00 and set a “buy” rating on the stock in a research note on Tuesday, August 19th. Finally, BTIG Research cut their price objective on shares of PAR Technology from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Friday. Seven 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. Based on data from MarketBeat, PAR Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.86.

PAR Technology Stock Up 12.4%

The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of -16.58 and a beta of 1.63. 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 firm’s 50 day simple moving average is $39.99 and its 200-day simple moving average is $54.91.

PAR Technology (NYSE:PAR) last issued its quarterly earnings results on Thursday, November 6th. The software maker reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). PAR Technology had a negative return on equity of 3.16% and a negative net margin of 20.64%.The firm had revenue of $119.18 million for the quarter, compared to analyst estimates of $112.23 million. During the same quarter last year, the firm earned ($0.09) earnings per share. The company’s revenue was up 23.1% compared to the same quarter last year. On average, sell-side 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 bought and sold shares of PAR. Huntington National Bank boosted its stake 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 valued at $30,000 after buying an additional 174 shares during the last quarter. Advisors Asset Management Inc. grew its stake in PAR Technology by 68.6% in the second quarter. Advisors Asset Management Inc. now owns 563 shares of the software maker’s stock worth $39,000 after purchasing an additional 229 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in PAR Technology by 3.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,233 shares of the software maker’s stock valued at $382,000 after buying an additional 234 shares during the last quarter. Victory Capital Management Inc. raised its stake in PAR Technology by 7.8% during the first quarter. Victory Capital Management Inc. now owns 4,752 shares of the software maker’s stock valued at $291,000 after buying an additional 343 shares in the last quarter. Finally, OneDigital Investment Advisors LLC grew its position in shares of PAR Technology by 4.2% in the 1st quarter. OneDigital Investment Advisors LLC now owns 10,733 shares of the software maker’s stock worth $658,000 after acquiring an additional 432 shares in 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.