PAR Technology (NYSE:PAR) Trading Down 8.1% – Here’s Why

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PAR. BTIG Research reduced their price objective on PAR Technology from $60.00 to $45.00 and set a “buy” rating for the company 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, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of PAR Technology in a research note on Friday, March 27th. Needham & Company LLC decreased their price objective on PAR Technology from $30.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, April 9th. Finally, William Blair restated an “outperform” rating on shares of PAR Technology in a research note on Friday, March 13th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.67.

PAR Technology Stock Up 0.9%

The company has a quick ratio of 1.46, a current ratio of 2.10 and a debt-to-equity ratio of 0.51. The stock has a 50-day simple moving average of $14.38 and a two-hundred day simple moving average of $25.77. The firm has a market cap of $605.51 million, a PE ratio of -7.85 and a beta of 1.32.

PAR Technology (NYSE:PAR) last announced its quarterly earnings data on Thursday, May 7th. The software maker reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The company had revenue of $123.97 million for the quarter, compared to analysts’ expectations of $116.88 million. PAR Technology had a negative return on equity of 2.57% and a negative net margin of 16.04%.PAR Technology’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) EPS. Analysts expect that PAR Technology Corporation will post -0.05 earnings per share for the current year.

Insider Buying and Selling at PAR Technology

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 shares were 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 approximately $462,418.11. The trade was a 8.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Bryan A. Menar sold 1,636 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $18.27, for a total transaction of $29,889.72. Following the completion of the sale, the chief financial officer directly owned 63,257 shares of the company’s stock, valued at $1,155,705.39. This trade represents a 2.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 90,689 shares of company stock valued at $1,600,226. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On PAR Technology

Several institutional investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC increased its position in shares of PAR Technology by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 7,330 shares of the software maker’s stock valued at $266,000 after acquiring an additional 471 shares during the period. SkyView Investment Advisors LLC boosted its holdings in shares of PAR Technology by 3.3% during the second quarter. SkyView Investment Advisors LLC now owns 16,915 shares of the software maker’s stock worth $1,153,000 after purchasing an additional 548 shares during the period. &PARTNERS grew its stake in shares of PAR Technology by 10.6% in the fourth quarter. &PARTNERS now owns 6,444 shares of the software maker’s stock worth $234,000 after purchasing an additional 620 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in PAR Technology by 6.8% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 9,835 shares of the software maker’s stock worth $357,000 after buying an additional 622 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in PAR Technology in the third quarter worth about $26,000.

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.