PAR Technology (NYSE:PAR) Shares Down 5.9% – Here’s What Happened

PAR Technology Corporation (NYSE:PAR) shares were down 5.9% on Tuesday . The stock traded as low as $29.08 and last traded at $29.73. Approximately 269,560 shares changed hands during trading, a decline of 61% from the average daily volume of 699,932 shares. The stock had previously closed at $31.58.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PAR shares. Needham & Company LLC restated a “buy” rating and issued a $55.00 price objective on shares of PAR Technology in a research report on Friday, January 9th. William Blair restated an “outperform” rating on shares of PAR Technology in a research report on Tuesday, October 14th. BTIG Research reissued a “buy” rating on shares of PAR Technology in a research note on Tuesday, January 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of PAR Technology in a research note on Monday, December 29th. Finally, The Goldman Sachs Group decreased their price objective on shares of PAR Technology from $50.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $64.00.

PAR Technology Stock Performance

The business’s fifty day simple moving average is $35.30 and its 200-day simple moving average is $42.70. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.51 and a current ratio of 1.70. The company has a market capitalization of $1.12 billion, a P/E ratio of -12.85 and a beta of 1.35.

PAR Technology (NYSE:PAR) last released its quarterly earnings results on Thursday, November 6th. The software maker reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). The company had revenue of $119.18 million for the quarter, compared to analysts’ expectations of $112.23 million. PAR Technology had a negative net margin of 19.21% and a negative return on equity of 2.56%. The business’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.09) EPS. As a group, equities analysts anticipate that PAR Technology Corporation will post -1.47 earnings per share for the current fiscal year.

Insider Activity at PAR Technology

In related news, CFO Bryan A. Menar sold 6,500 shares of PAR Technology stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $35.53, for a total value of $230,945.00. Following the sale, the chief financial officer owned 71,481 shares of the company’s stock, valued at approximately $2,539,719.93. This trade represents a 8.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Voss Capital, Lp bought 25,000 shares of the stock in a transaction on Tuesday, January 6th. The shares were acquired at an average cost of $34.56 per share, for a total transaction of $864,000.00. Following the purchase, the insider owned 3,613,898 shares in the company, valued at $124,896,314.88. The trade was a 0.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 196,035 shares of company stock worth $7,103,730. 3.70% of the stock is owned by insiders.

Institutional Trading of PAR Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in shares of PAR Technology by 8.0% during the first 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. AQR Capital Management LLC purchased a new position in PAR Technology during the 1st quarter worth $309,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of PAR Technology by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,012 shares of the software maker’s stock valued at $1,228,000 after buying an additional 874 shares during the period. Jones Financial Companies Lllp lifted its stake 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 period. Finally, Goldman Sachs Group Inc. grew its holdings in PAR Technology by 28.5% in the first quarter. Goldman Sachs Group Inc. now owns 231,494 shares of the software maker’s stock valued at $14,200,000 after purchasing an additional 51,316 shares during the last quarter.

PAR Technology Company Profile

PAR Technology Corp is a provider of enterprise software and hardware solutions for the hospitality, foodservice and retail industries. The company’s platforms are designed to streamline front- and back-of-house operations, covering point-of-sale (POS) systems, kitchen display and dispatch, inventory and labor management, and reporting tools. PAR’s integrated approach enables operators of full-service restaurants, quick-service chains, bars, hotels, casinos and retail outlets to centralize data and automate workflows across multiple sites.

Key offerings include PAR Brink, a cloud-native POS application that supports touchscreen, mobile and tablet devices; PAR Cloud Services, which delivers software updates, reporting and analytics through a subscription model; and hardware solutions such as payment terminals, handheld devices and self-service kiosks.