PAR Technology (NYSE:PAR) Shares Gap Down – Should You Sell?

PAR Technology Co. (NYSE:PAR)’s share price gapped down prior to trading 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 changing hands.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of PAR Technology in a research note on Friday, January 3rd. Craig Hallum upped their target price on PAR Technology from $65.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Lake Street Capital increased their price target on PAR Technology from $57.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. StockNews.com upgraded PAR Technology to a “sell” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group increased their target price on shares of PAR Technology from $71.00 to $79.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.25.

PAR Technology Price Performance

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

PAR Technology (NYSE:PAR) last issued its quarterly earnings results on Friday, November 8th. The software maker reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The business had revenue of $96.80 million for the quarter, compared to analyst estimates of $91.01 million. PAR Technology had a negative net margin of 0.66% and a negative return on equity of 8.99%. PAR Technology’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.35) EPS. As a group, equities analysts expect that PAR Technology Co. will post -1.47 earnings per share for the current year.

Institutional Trading of PAR Technology

Several institutional investors and hedge funds have recently bought and sold shares of the business. TimesSquare Capital Management LLC purchased a new position in shares of PAR Technology during the third quarter worth $14,398,000. Bamco Inc. NY raised its stake in shares of PAR Technology by 15.2% during the 3rd 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 during the last quarter. Progeny 3 Inc. lifted 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 purchased a new stake in shares of PAR Technology in the third quarter worth about $6,600,000. Finally, Magnolia Capital Advisors LLC acquired a new stake in PAR Technology during the second quarter worth 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.