PAR Technology (NYSE:PAR) Issues Earnings Results

PAR Technology (NYSE:PAR) released its earnings results on Thursday. The software maker reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03), FiscalAI reports. The company had revenue of $119.18 million for the quarter, compared to the consensus estimate of $112.23 million. PAR Technology had a negative net margin of 20.64% and a negative return on equity of 3.16%. The firm’s revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.09) earnings per share.

PAR Technology Price Performance

NYSE:PAR traded up $5.44 during mid-day trading on Friday, reaching $38.61. The stock had a trading volume of 1,758,363 shares, compared to its average volume of 599,746. The stock has a market capitalization of $1.57 billion, a P/E ratio of -17.16 and a beta of 1.63. The firm has a 50 day moving average price of $39.74 and a two-hundred day moving average price of $54.78. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.49 and a current ratio of 1.70. PAR Technology has a one year low of $32.56 and a one year high of $82.24.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its holdings in shares of PAR Technology by 278.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,115 shares of the software maker’s stock worth $216,000 after acquiring an additional 2,291 shares during the last quarter. AQR Capital Management LLC purchased a new position in PAR Technology in the 1st quarter worth $309,000. Jones Financial Companies Lllp raised its position in PAR Technology by 186,466.7% in the 1st quarter. Jones Financial Companies Lllp now owns 5,597 shares of the software maker’s stock worth $343,000 after purchasing an additional 5,594 shares during the period. Prudential Financial Inc. bought a new stake in PAR Technology in the second quarter worth $355,000. Finally, Hsbc Holdings PLC purchased a new stake in PAR Technology during the second quarter valued at about $356,000.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Benchmark reduced their price objective on PAR Technology from $92.00 to $77.00 and set a “buy” rating for the company in a report on Tuesday, August 19th. William Blair reaffirmed an “outperform” rating on shares of PAR Technology in a research report on Tuesday, October 14th. Needham & Company LLC decreased their price objective on PAR Technology from $90.00 to $55.00 and set a “buy” rating for the company in a report on Friday. The Goldman Sachs Group lowered their price objective on PAR Technology from $50.00 to $38.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of PAR Technology in a research report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, PAR Technology currently has an average rating of “Moderate Buy” and a consensus price target of $68.86.

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.