PAR Technology (NYSE:PAR) Hits New 52-Week Low on Analyst Downgrade

PAR Technology Corporation (NYSE:PAR) shares hit a new 52-week low during mid-day trading on Monday after Stephens lowered their price target on the stock from $60.00 to $45.00. Stephens currently has an overweight rating on the stock. PAR Technology traded as low as $15.44 and last traded at $15.8890, with a volume of 193089 shares trading hands. The stock had previously closed at $16.39.

PAR has been the topic of several other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of PAR Technology in a report on Monday, December 29th. Needham & Company LLC dropped their price objective on shares of PAR Technology from $55.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday. Finally, BTIG Research reduced their price objective on shares of PAR Technology from $60.00 to $45.00 and set a “buy” rating for the company in a research note on Friday. Five equities research 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Insiders Place Their Bets

In related 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 transaction of $230,945.00. Following the transaction, the chief financial officer directly owned 71,481 shares in the company, valued at $2,539,719.93. The trade was a 8.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Voss Capital, Lp purchased 25,000 shares of the stock in a transaction on Tuesday, January 6th. The stock was acquired at an average cost of $34.56 per share, with a total value of $864,000.00. Following the acquisition, the insider owned 3,613,898 shares of the company’s stock, valued at approximately $124,896,314.88. This represents a 0.70% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 196,035 shares of company stock valued at $7,103,730 in the last three months. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Greenstone Partners & Co. LLC purchased a new position in shares of PAR Technology in the fourth quarter worth $36,981,000. Long Focus Capital Management LLC increased its position in shares of PAR Technology by 4,210.9% in the 3rd quarter. Long Focus Capital Management LLC now owns 877,575 shares of the software maker’s stock valued at $34,734,000 after acquiring an additional 857,218 shares during the period. SG Americas Securities LLC purchased a new position in PAR Technology in the 4th quarter worth $27,274,000. Capital Research Global Investors lifted its position in 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 acquiring an additional 476,839 shares during the period. Finally, Reinhart Partners LLC. grew its stake in PAR Technology by 45.6% during the 4th quarter. Reinhart Partners LLC. now owns 1,309,860 shares of the software maker’s stock valued at $47,522,000 after purchasing an additional 410,183 shares during the last quarter.

PAR Technology Stock Down 3.6%

The firm has a market capitalization of $649.92 million, a price-to-earnings ratio of -7.59 and a beta of 1.36. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.66 and a quick ratio of 1.46. The business has a fifty day moving average price of $29.66 and a two-hundred day moving average price of $36.38.

PAR Technology (NYSE:PAR) last issued its quarterly earnings results on Thursday, February 26th. The software maker reported $0.06 earnings per share 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 company 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% on a year-over-year basis. On average, equities analysts expect that PAR Technology Corporation will post -1.47 earnings per share for the current year.

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.