PAR Technology (NYSE:PAR) Shares Down 8.1% – Time to Sell?

PAR Technology Corporation (NYSE:PAR) was down 8.1% during trading on Wednesday . The stock traded as low as $14.34 and last traded at $14.2760. Approximately 773,274 shares were traded during trading, a decline of 55% from the average daily volume of 1,707,040 shares. The stock had previously closed at $15.53.

Analyst Ratings Changes

PAR has been the topic of a number of research reports. The Goldman Sachs Group cut their price objective on shares of PAR Technology from $40.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. BTIG Research lowered their price target on shares of PAR Technology from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Jefferies Financial Group set a $18.00 price target on PAR Technology in a research report on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of PAR Technology in a report on Friday, March 27th. Finally, Benchmark lowered their target price on PAR Technology from $42.00 to $33.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.67.

PAR Technology Price Performance

The stock has a market capitalization of $584.25 million, a PE ratio of -7.57 and a beta of 1.32. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.10 and a quick ratio of 1.46. The stock’s fifty day moving average is $14.49 and its 200-day moving average is $26.07.

PAR Technology (NYSE:PAR) last issued its quarterly earnings data on Thursday, May 7th. The software maker reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. PAR Technology had a negative net margin of 16.04% and a negative return on equity of 2.57%. The business had revenue of $123.97 million during the quarter, compared to the consensus estimate of $116.88 million. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. The company’s revenue was up 19.4% compared to the same quarter last year. As a group, equities analysts predict that PAR Technology Corporation will post -0.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Michael Anthony Steenberge sold 2,342 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $17.49, for a total value of $40,961.58. Following the completion of the sale, the chief accounting officer directly owned 26,439 shares in the company, valued at $462,418.11. The trade was a 8.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Savneet Singh sold 57,605 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $17.49, for a total value of $1,007,511.45. Following the transaction, the chief executive officer directly owned 252,537 shares of the company’s stock, valued at approximately $4,416,872.13. The trade was a 18.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 90,689 shares of company stock worth $1,600,226. 3.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On PAR Technology

Institutional investors have recently added to or reduced their stakes in the stock. Greenstone Partners & Co. LLC acquired a new position in PAR Technology during the fourth quarter worth $36,981,000. Long Focus Capital Management LLC grew its position in shares of PAR Technology by 4,210.9% in 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 period. SG Americas Securities LLC purchased a new stake in shares of PAR Technology during the fourth quarter worth about $27,274,000. Capital Research Global Investors raised its position in shares of PAR Technology by 17.3% during 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. Finally, Reinhart Partners LLC. raised its position in shares of PAR Technology by 45.6% during the 4th quarter. Reinhart Partners LLC. now owns 1,309,860 shares of the software maker’s stock worth $47,522,000 after purchasing an additional 410,183 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.