The Goldman Sachs Group Has Lowered Expectations for PAR Technology (NYSE:PAR) Stock Price

PAR Technology (NYSE:PAR) had its price objective decreased by equities research analysts at The Goldman Sachs Group from $40.00 to $18.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the software maker’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 8.29% from the stock’s current price.

Other research analysts have also issued reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of PAR Technology in a research note on Monday, December 29th. Stephens lowered their price target on shares of PAR Technology from $60.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday. Needham & Company LLC dropped their price objective on shares of PAR Technology from $55.00 to $30.00 and set a “buy” rating for the company in a research note on Friday. Finally, BTIG Research decreased their target price on shares of PAR Technology from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $43.00.

PAR Technology Stock Performance

Shares of NYSE PAR traded down $0.35 during mid-day trading on Tuesday, hitting $16.62. The company had a trading volume of 85,371 shares, compared to its average volume of 1,360,971. PAR Technology has a 12 month low of $15.44 and a 12 month high of $72.15. The firm has a market cap of $684.00 million, a P/E ratio of -7.90 and a beta of 1.36. The business’s 50-day simple moving average is $29.25 and its 200-day simple moving average is $36.13. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.66 and a quick ratio of 1.46.

PAR Technology (NYSE:PAR) last posted its quarterly earnings results on Thursday, February 26th. The software maker reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.16. PAR Technology had a negative return on equity of 2.32% and a negative net margin of 18.54%.The firm had revenue of $120.10 million during the quarter, compared to analysts’ expectations of $116.39 million. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, analysts predict that PAR Technology will post -1.47 earnings per share for the current fiscal year.

Insider Buying and Selling at PAR Technology

In other PAR Technology news, CFO Bryan A. Menar sold 6,500 shares of the business’s 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 transaction, the chief financial officer owned 71,481 shares of the company’s stock, valued at approximately $2,539,719.93. The trade was a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Voss Capital, Lp bought 146,789 shares of the firm’s stock in a transaction dated Tuesday, December 30th. The shares were acquired at an average price of $36.51 per share, for a total transaction of $5,359,266.39. Following the acquisition, the insider directly owned 3,564,652 shares of the company’s stock, valued at approximately $130,145,444.52. The trade was a 4.29% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 196,035 shares of company stock valued at $7,103,730. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On PAR Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PAR. T. Rowe Price Investment Management Inc. lifted its position in shares of PAR Technology by 3.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,916,459 shares of the software maker’s stock worth $214,650,000 after purchasing an additional 201,782 shares in the last quarter. Vanguard Group Inc. raised its position in PAR Technology by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 3,304,052 shares of the software maker’s stock worth $119,871,000 after purchasing an additional 12,250 shares during the last quarter. Capital Research Global Investors raised its position in PAR Technology by 17.3% in the 3rd quarter. Capital Research Global Investors now owns 3,237,004 shares of the software maker’s stock worth $128,121,000 after purchasing an additional 476,839 shares during the last quarter. Progeny 3 Inc. lifted its holdings in PAR Technology by 18.7% during the 4th quarter. Progeny 3 Inc. now owns 2,056,308 shares of the software maker’s stock worth $74,603,000 after buying an additional 323,990 shares in the last quarter. Finally, Invesco Ltd. boosted its position in PAR Technology by 24.1% in the 2nd quarter. Invesco Ltd. now owns 1,877,239 shares of the software maker’s stock valued at $130,224,000 after buying an additional 364,892 shares during the last quarter.

About PAR Technology

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.