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

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

PAR Technology Stock Up 16.4%

NYSE:PAR traded up $5.44 during trading hours on Friday, hitting $38.61. 1,758,363 shares of the company traded hands, compared to its average volume of 599,746. The company has a quick ratio of 1.49, a current ratio of 1.70 and a debt-to-equity ratio of 0.43. The company has a market cap of $1.57 billion, a PE ratio of -17.16 and a beta of 1.63. The firm’s 50-day simple moving average is $39.74 and its 200-day simple moving average is $54.78. PAR Technology has a one year low of $32.56 and a one year high of $82.24.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its holdings in PAR Technology by 28.5% during the first quarter. Goldman Sachs Group Inc. now owns 231,494 shares of the software maker’s stock worth $14,200,000 after purchasing an additional 51,316 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of PAR Technology by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,012 shares of the software maker’s stock worth $1,228,000 after buying an additional 874 shares in the last quarter. Royal Bank of Canada lifted its position in shares of PAR Technology by 8.0% during the 1st quarter. Royal Bank of Canada now owns 20,446 shares of the software maker’s stock worth $1,255,000 after buying an additional 1,515 shares in the last quarter. Occudo Quantitative Strategies LP boosted its stake in shares of PAR Technology by 25.2% in the 2nd quarter. Occudo Quantitative Strategies LP now owns 15,020 shares of the software maker’s stock worth $1,042,000 after buying an additional 3,019 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its holdings in shares of PAR Technology by 11.6% in the second quarter. CANADA LIFE ASSURANCE Co now owns 13,951 shares of the software maker’s stock valued at $970,000 after acquiring an additional 1,451 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PAR. Needham & Company LLC cut their price target on PAR Technology from $90.00 to $55.00 and set a “buy” rating on the stock in a report on Friday. William Blair reaffirmed an “outperform” rating on shares of PAR Technology in a research report on Tuesday, October 14th. Weiss Ratings reissued a “sell (d)” rating on shares of PAR Technology in a research report on Wednesday, October 8th. BTIG Research decreased their price target on shares of PAR Technology from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Friday. Finally, The Goldman Sachs Group dropped their price objective on shares of PAR Technology from $50.00 to $38.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.