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

PAR Technology Co. (NYSE:PAR)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $52.08, but opened at $50.89. PAR Technology shares last traded at $51.00, with a volume of 27,606 shares traded.

Wall Street Analyst Weigh In

Several analysts have weighed in on PAR shares. The Goldman Sachs Group boosted their target price on shares of PAR Technology from $45.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Needham & Company LLC increased their price objective on shares of PAR Technology from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Jefferies Financial Group upgraded PAR Technology from a “hold” rating to a “buy” rating and lifted their target price for the company from $45.00 to $60.00 in a research note on Monday, August 12th. Benchmark reiterated a “buy” rating and set a $69.00 price target on shares of PAR Technology in a research report on Friday, August 9th. Finally, StockNews.com raised PAR Technology to a “sell” rating in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, PAR Technology has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

PAR Technology Price Performance

The firm has a market capitalization of $1.88 billion, a P/E ratio of -20.12 and a beta of 2.17. The company has a current ratio of 3.12, a quick ratio of 2.80 and a debt-to-equity ratio of 0.64. The business’s fifty day moving average is $52.75 and its 200 day moving average is $47.83.

PAR Technology (NYSE:PAR) last announced its earnings results on Thursday, August 8th. The software maker reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.05). PAR Technology had a negative return on equity of 10.93% and a net margin of 0.44%. The company had revenue of $78.20 million for the quarter, compared to analyst estimates of $115.14 million. During the same period last year, the firm earned ($0.65) earnings per share. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, analysts forecast that PAR Technology Co. will post -1.67 EPS for the current year.

Institutional Trading of PAR Technology

Several institutional investors have recently made changes to their positions in the stock. Arcadia Investment Management Corp MI purchased a new position in shares of PAR Technology during the 2nd quarter valued at $32,000. Amalgamated Bank raised its position in PAR Technology by 25.5% during the second quarter. Amalgamated Bank now owns 1,166 shares of the software maker’s stock valued at $55,000 after acquiring an additional 237 shares in the last quarter. NBC Securities Inc. acquired a new stake in PAR Technology in the first quarter valued at approximately $76,000. Central Pacific Bank Trust Division bought a new stake in PAR Technology in the first quarter worth approximately $78,000. Finally, LRI Investments LLC acquired a new position in shares of PAR Technology during the 1st quarter worth $99,000.

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.