PAR Technology (NYSE:PAR) Posts Earnings Results, Misses Estimates By $0.03 EPS

PAR Technology (NYSE:PAR) issued its quarterly earnings data 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 analysts’ expectations of $112.23 million. PAR Technology had a negative return on equity of 3.16% and a negative net margin of 20.64%.During the same quarter last year, the company earned ($0.09) earnings per share. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year.

PAR Technology Price Performance

PAR Technology stock traded up $5.44 during midday trading on Friday, reaching $38.61. The company had a trading volume of 1,758,363 shares, compared to its average volume of 599,746. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.70 and a quick ratio of 1.49. PAR Technology has a 12-month low of $32.56 and a 12-month high of $82.24. The company has a market capitalization of $1.57 billion, a P/E ratio of -17.16 and a beta of 1.63. The firm’s fifty day simple moving average is $39.74 and its 200-day simple moving average is $54.78.

Institutional Trading of PAR Technology

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Needham & Company LLC lowered their price objective on shares of PAR Technology from $90.00 to $55.00 and set a “buy” rating for the company in a research note on Friday. The Goldman Sachs Group reduced their target price on PAR Technology from $50.00 to $38.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. BTIG Research dropped their price target on PAR Technology from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday. William Blair reissued an “outperform” rating on shares of PAR Technology in a report on Tuesday, October 14th. Finally, Benchmark decreased their target price on PAR Technology from $92.00 to $77.00 and set a “buy” rating for the company in a report on Tuesday, August 19th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, PAR Technology presently has an average rating of “Moderate Buy” and an average price target of $68.86.

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.