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

PAR Technology Co. (NYSE:PAR) gapped down prior to trading on Friday . The stock had previously closed at $62.40, but opened at $60.45. PAR Technology shares last traded at $65.75, with a volume of 186,693 shares.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PAR. StockNews.com upgraded shares of PAR Technology to a “sell” rating in a report on Monday, March 3rd. Citigroup reiterated a “neutral” rating on shares of PAR Technology in a report on Friday, February 28th. Craig Hallum restated a “buy” rating on shares of PAR Technology in a report on Friday, February 28th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of PAR Technology in a report on Friday, February 28th. Finally, Stephens restated an “overweight” rating and set a $90.00 price target on shares of PAR Technology in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.86.

PAR Technology Stock Performance

The business’s 50-day moving average price is $59.24 and its 200-day moving average price is $67.12. The company has a current ratio of 2.13, a quick ratio of 1.91 and a debt-to-equity ratio of 0.67. The stock has a market cap of $2.62 billion, a PE ratio of -258.87 and a beta of 1.76.

PAR Technology (NYSE:PAR) last issued its quarterly earnings results on Friday, May 9th. The software maker reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The business had revenue of $103.86 million for the quarter, compared to the consensus estimate of $105.16 million. PAR Technology had a negative return on equity of 8.99% and a negative net margin of 0.66%. The business’s quarterly revenue was up 48.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.36) earnings per share. As a group, equities research analysts expect that PAR Technology Co. will post -1.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PAR Technology

A number of large investors have recently modified their holdings of the business. Aster Capital Management DIFC Ltd acquired a new stake in PAR Technology in the 4th quarter worth approximately $28,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of PAR Technology during the fourth quarter valued at $29,000. Versant Capital Management Inc increased its position in shares of PAR Technology by 996.6% in 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 period. NBC Securities Inc. purchased a new position in PAR Technology in the 1st quarter worth $40,000. Finally, GAMMA Investing LLC lifted its position in PAR Technology by 232.4% during the 1st quarter. GAMMA Investing LLC now owns 698 shares of the software maker’s stock worth $43,000 after acquiring an additional 488 shares during the period.

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.