PAR Technology (NYSE:PAR) Reaches New 12-Month Low – Here’s Why

Shares of PAR Technology Corporation (NYSE:PAR) reached a new 52-week low during trading on Thursday . The company traded as low as $27.29 and last traded at $27.7370, with a volume of 718625 shares trading hands. The stock had previously closed at $28.55.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PAR Technology in a report on Monday, December 29th. BTIG Research reaffirmed a “buy” rating and issued a $60.00 target price on shares of PAR Technology in a research note on Friday. The Goldman Sachs Group reduced their target price 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 target price on shares of PAR Technology in a report on Friday, January 9th. Finally, William Blair reissued an “outperform” rating on shares of PAR Technology in a research note on Tuesday, October 14th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.00.

PAR Technology Stock Down 4.8%

The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -12.26 and a beta of 1.35. The business has a 50 day moving average of $35.15 and a 200 day moving average of $42.40. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.70 and a quick ratio of 1.51.

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

Insider Activity at PAR Technology

In other news, CFO Bryan A. Menar sold 6,500 shares of PAR Technology stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $35.53, for a total value of $230,945.00. Following the completion of the sale, the chief financial officer directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Voss Capital, Lp acquired 146,789 shares of the stock in a transaction that occurred on Tuesday, December 30th. The stock was purchased at an average price of $36.51 per share, with a total value of $5,359,266.39. Following the completion of the transaction, the insider owned 3,564,652 shares of the company’s stock, valued at approximately $130,145,444.52. This trade represents a 4.29% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 196,035 shares of company stock valued at $7,103,730 in the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PAR Technology

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its position in shares of PAR Technology by 13.2% in the 2nd quarter. Geode Capital Management LLC now owns 942,503 shares of the software maker’s stock valued at $65,389,000 after purchasing an additional 110,160 shares during the period. Stephens Investment Management Group LLC boosted its holdings in shares of PAR Technology by 54.4% in the third quarter. Stephens Investment Management Group LLC now owns 158,959 shares of the software maker’s stock valued at $6,292,000 after buying an additional 56,036 shares during the period. Invesco Ltd. increased its position in shares of PAR Technology by 24.1% during the second quarter. Invesco Ltd. now owns 1,877,239 shares of the software maker’s stock worth $130,224,000 after acquiring an additional 364,892 shares in the last quarter. AXA S.A. lifted its position in PAR Technology by 360.1% in the 2nd quarter. AXA S.A. now owns 298,985 shares of the software maker’s stock valued at $20,741,000 after acquiring an additional 234,009 shares in the last quarter. Finally, Bamco Inc. NY boosted its stake in PAR Technology by 8.5% in the 2nd quarter. Bamco Inc. NY now owns 1,751,387 shares of the software maker’s stock worth $121,494,000 after purchasing an additional 137,434 shares during the period.

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.