PAR Technology (NYSE:PAR) Rating Lowered to Sell at Zacks Investment Research

PAR Technology (NYSE:PAR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Saturday, Zacks.com reports.

According to Zacks, “PAR TECHNOLOGY CORP. designs, develops, manufactures, markets, installs, and services microprocessor- based transaction processing systems for the restaurant and industrial market-places, Corneal Topography systems for measuring the true topography of the eye and vision inspection systems for the food-processing industry (Commercial Segment). Co. is also engaged in the design and implementation of advanced-technology computer software systems, for the Department of Defense and other Government agencies (Government Segment). “

Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group assumed coverage on shares of PAR Technology in a research note on Wednesday, May 15th. They set a “buy” rating and a $32.00 target price for the company. Sidoti raised shares of PAR Technology from a “neutral” rating to a “buy” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $31.50.

Shares of NYSE:PAR opened at $24.87 on Friday. The firm’s fifty day moving average is $26.24. The firm has a market cap of $404.14 million, a price-to-earnings ratio of -80.23 and a beta of -0.23. PAR Technology has a 12-month low of $15.22 and a 12-month high of $29.77. The company has a quick ratio of 0.75, a current ratio of 1.19 and a debt-to-equity ratio of 0.05.

PAR Technology (NYSE:PAR) last issued its earnings results on Tuesday, August 6th. The software maker reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). The company had revenue of $44.25 million for the quarter, compared to analyst estimates of $48.05 million. PAR Technology had a negative net margin of 14.68% and a negative return on equity of 20.03%. Sell-side analysts expect that PAR Technology will post -0.63 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in shares of PAR Technology by 0.6% in the 4th quarter. BlackRock Inc. now owns 746,921 shares of the software maker’s stock valued at $16,246,000 after purchasing an additional 4,803 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of PAR Technology by 4,825.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,364 shares of the software maker’s stock valued at $58,000 after purchasing an additional 2,316 shares during the last quarter. Wedbush Securities Inc. lifted its stake in shares of PAR Technology by 6.4% in the 1st quarter. Wedbush Securities Inc. now owns 371,879 shares of the software maker’s stock valued at $9,096,000 after purchasing an additional 22,247 shares during the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of PAR Technology in the 4th quarter valued at $117,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of PAR Technology by 12.6% in the 4th quarter. Bank of New York Mellon Corp now owns 33,848 shares of the software maker’s stock valued at $737,000 after purchasing an additional 3,789 shares during the last quarter. 47.06% of the stock is owned by institutional investors and hedge funds.

PAR Technology Company Profile

PAR Technology Corporation, together with its subsidiaries, provides management technology solutions worldwide. The company operates through two segments, Restaurant/Retail and Government. The Restaurant/Retail segment offers point-of-sale (POS) technology solutions, including cloud-based, software-as-a-service Brink and on-premise POS PixelPoint solutions, and its POS hardware platforms, as well as installation, technical, and maintenance support services.

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