PAR Technology (NYSE:PAR) Sets New 12-Month Low – Here’s What Happened

Shares of PAR Technology Corporation (NYSE:PAR) hit a new 52-week low during trading on Friday . The company traded as low as $12.42 and last traded at $12.8010, with a volume of 317981 shares trading hands. The stock had previously closed at $13.56.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PAR shares. Stephens decreased their price target on shares of PAR Technology from $60.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. William Blair restated an “outperform” rating on shares of PAR Technology in a research note on Friday, March 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PAR Technology in a research report on Monday, December 29th. Needham & Company LLC lowered their target price on PAR Technology from $55.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Finally, The Goldman Sachs Group dropped their target price on PAR Technology from $40.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $34.20.

PAR Technology Stock Down 6.0%

The firm’s 50 day moving average price is $21.57 and its two-hundred day moving average price is $31.91. The firm has a market capitalization of $524.25 million, a PE ratio of -6.11 and a beta of 1.36. The company has a quick ratio of 1.46, a current ratio of 1.66 and a debt-to-equity ratio of 0.45.

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

Insider Activity at PAR Technology

In other news, CAO Michael Anthony Steenberge sold 2,342 shares of PAR Technology stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $17.49, for a total transaction of $40,961.58. Following the sale, the chief accounting officer directly owned 26,439 shares of the company’s stock, valued at approximately $462,418.11. The trade was a 8.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cathy A. King sold 1,517 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $18.27, for a total value of $27,715.59. Following the completion of the transaction, the insider owned 56,626 shares in the company, valued at approximately $1,034,557.02. This trade represents a 2.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders acquired 722,237 shares of company stock valued at $21,772,998 and sold 90,689 shares valued at $1,600,226. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On PAR Technology

Several institutional investors and hedge funds have recently made changes to their positions in PAR. Capital Research Global Investors lifted its stake in PAR Technology by 17.3% during the third 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. Long Focus Capital Management LLC increased its stake in PAR Technology by 4,210.9% during the third quarter. Long Focus Capital Management LLC now owns 877,575 shares of the software maker’s stock valued at $34,734,000 after purchasing an additional 857,218 shares during the last quarter. Stephens Investment Management Group LLC raised its holdings in shares of PAR Technology by 54.4% during the third quarter. Stephens Investment Management Group LLC now owns 158,959 shares of the software maker’s stock worth $6,292,000 after purchasing an additional 56,036 shares during the period. Invesco Ltd. raised its holdings 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 purchasing an additional 364,892 shares during the period. Finally, TD Asset Management Inc lifted its position in shares of PAR Technology by 77.2% in the 3rd quarter. TD Asset Management Inc now owns 154,400 shares of the software maker’s stock worth $6,111,000 after buying an additional 67,254 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.