PAR Technology (NYSE:PAR) Shares Gap Down – Here’s What Happened

Shares of PAR Technology Co. (NYSE:PAR) gapped down before the market opened on Tuesday . The stock had previously closed at $73.20, but opened at $70.24. PAR Technology shares last traded at $68.78, with a volume of 82,636 shares.

Wall Street Analyst Weigh In

Several analysts have commented on PAR shares. StockNews.com raised PAR Technology to a “sell” rating in a report on Thursday, November 7th. Stephens increased their price objective on shares of PAR Technology from $83.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Lake Street Capital boosted their target price on shares of PAR Technology from $57.00 to $77.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of PAR Technology in a research note on Friday, January 3rd. Finally, Benchmark lifted their price objective on PAR Technology from $69.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $79.25.

PAR Technology Price Performance

The company has a debt-to-equity ratio of 0.67, a current ratio of 2.13 and a quick ratio of 1.91. The stock has a 50 day simple moving average of $74.94 and a two-hundred day simple moving average of $62.07. The company has a market cap of $2.75 billion, a price-to-earnings ratio of -284.57 and a beta of 2.21.

PAR Technology (NYSE:PAR) last released its quarterly earnings data on Friday, November 8th. The software maker reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The firm had revenue of $96.80 million for the quarter, compared to analysts’ expectations of $91.01 million. PAR Technology had a negative return on equity of 8.99% and a negative net margin of 0.66%. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.35) earnings per share. On average, equities research analysts predict that PAR Technology Co. will post -1.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PAR Technology

Institutional investors and hedge funds have recently made changes to their positions in the stock. TimesSquare Capital Management LLC acquired a new stake in PAR Technology in the 3rd quarter valued at approximately $14,398,000. Bamco Inc. NY grew its stake in shares of PAR Technology by 15.2% in the third quarter. Bamco Inc. NY now owns 1,170,908 shares of the software maker’s stock valued at $60,981,000 after buying an additional 154,921 shares in the last quarter. Progeny 3 Inc. raised its holdings in shares of PAR Technology by 10.9% in the 2nd quarter. Progeny 3 Inc. now owns 1,320,858 shares of the software maker’s stock valued at $62,199,000 after buying an additional 129,810 shares during the period. Fred Alger Management LLC acquired a new position in PAR Technology during the 3rd quarter worth about $6,600,000. Finally, Magnolia Capital Advisors LLC purchased a new position in PAR Technology during the 2nd quarter valued at about $3,881,000.

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.