PAR Technology (NYSE:PAR) Stock Price Down 6% – Time to Sell?

Shares of PAR Technology Corporation (NYSE:PAR) fell 6% during trading on Tuesday . The stock traded as low as $18.77 and last traded at $18.5860. Approximately 59,188 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 1,418,160 shares. The stock had previously closed at $19.77.

Analyst Ratings Changes

Several research analysts have issued reports on PAR shares. The Goldman Sachs Group raised their price objective on shares of PAR Technology from $18.00 to $20.50 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Royal Bank Of Canada set a $16.00 target price on shares of PAR Technology in a research note on Tuesday, June 9th. JPMorgan Chase & Co. raised their price target on PAR Technology from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Weiss Ratings raised PAR Technology from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 27th. Finally, BTIG Research decreased their price objective on PAR Technology from $45.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.61.

PAR Technology Trading Down 6.9%

The firm has a market capitalization of $761.44 million, a PE ratio of -10.46 and a beta of 1.33. The business has a 50 day moving average price of $17.85 and a 200-day moving average price of $16.11. The company has a current ratio of 2.21, a quick ratio of 1.89 and a debt-to-equity ratio of 0.52.

PAR Technology (NYSE:PAR) last announced its quarterly earnings data on Thursday, August 6th. The software maker reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.06. The firm had revenue of $133.41 million for the quarter, compared to analyst estimates of $124.66 million. PAR Technology had a negative return on equity of 1.62% and a negative net margin of 14.52%.PAR Technology’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 earnings per share. Analysts expect that PAR Technology Corporation will post -0.13 earnings per share for the current year.

Insider Buying and Selling at PAR Technology

In related news, major shareholder Voss Capital, Lp acquired 156,249 shares of PAR Technology stock in a transaction that occurred on Friday, June 12th. The stock was purchased at an average price of $14.85 per share, for a total transaction of $2,320,297.65. Following the completion of the purchase, the insider directly owned 5,125,000 shares of the company’s stock, valued at approximately $76,106,250. This trade represents a 3.14% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Narinder Singh acquired 11,518 shares of PAR Technology stock in a transaction that occurred on Wednesday, August 12th. The stock was bought at an average price of $17.36 per share, with a total value of $199,952.48. Following the purchase, the director directly owned 38,527 shares of the company’s stock, valued at approximately $668,828.72. This trade represents a 42.65% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 361,518 shares of company stock worth $5,261,827 over the last 90 days. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in PAR Technology in the second quarter valued at $70,563,000. Greenstone Partners & Co. LLC acquired a new stake in shares of PAR Technology in the fourth quarter valued at approximately $36,981,000. California State Teachers Retirement System grew its position in shares of PAR Technology by 2,290.0% in the second quarter. California State Teachers Retirement System now owns 893,472 shares of the software maker’s stock valued at $15,564,000 after purchasing an additional 856,089 shares during the last quarter. Bandera Partners LLC purchased a new position in shares of PAR Technology during the 1st quarter worth approximately $9,331,000. Finally, Renaissance Technologies LLC purchased a new position in shares of PAR Technology during the 1st quarter worth approximately $5,508,000.

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.