PAR Technology (NYSE:PAR) Hits New 1-Year Low – Here’s Why

PAR Technology Corporation (NYSE:PAR)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $22.19 and last traded at $22.6930, with a volume of 3172466 shares changing hands. The stock had previously closed at $24.66.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PAR shares. BTIG Research reiterated a “buy” rating and issued a $60.00 target price on shares of PAR Technology in a research note on Friday, January 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 target price on shares of PAR Technology in a research note on Friday, January 9th. William Blair restated an “outperform” rating on shares of PAR Technology in a research report on Tuesday, October 14th. The Goldman Sachs Group cut their price target on PAR Technology from $50.00 to $38.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of PAR Technology in a research report on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, PAR Technology has an average rating of “Moderate Buy” and an average price target of $64.00.

PAR Technology Stock Down 8.0%

The firm’s 50 day moving average is $34.75 and its two-hundred day moving average is $41.38. The company has a current ratio of 1.70, a quick ratio of 1.51 and a debt-to-equity ratio of 0.45. The firm has a market cap of $921.11 million, a P/E ratio of -10.60 and a beta of 1.35.

PAR Technology (NYSE:PAR) last released its quarterly earnings data on Thursday, November 6th. The software maker reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The firm had revenue of $119.18 million during the quarter, compared to the consensus estimate of $112.23 million. PAR Technology had a negative net margin of 19.21% and a negative return on equity of 2.56%. PAR Technology’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.09) EPS. As a group, research analysts anticipate that PAR Technology Corporation will post -1.47 EPS for the current fiscal year.

Insider Buying and Selling at PAR Technology

In related news, CFO Bryan A. Menar sold 6,500 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $35.53, for a total transaction of $230,945.00. Following the sale, the chief financial officer directly owned 71,481 shares in the company, valued at $2,539,719.93. This trade represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Voss Capital, Lp purchased 25,000 shares of the company’s stock in a transaction on Tuesday, January 6th. The stock was purchased at an average cost of $34.56 per share, for a total transaction of $864,000.00. Following the purchase, the insider directly owned 3,613,898 shares in the company, valued at approximately $124,896,314.88. This trade represents a 0.70% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 196,035 shares of company stock valued at $7,103,730 in the last three months. 3.70% of the stock is owned by insiders.

Hedge Funds Weigh In On PAR Technology

A number of large investors have recently modified their holdings of PAR. Brooktree Capital Management increased its position in shares of PAR Technology by 9.9% in the fourth quarter. Brooktree Capital Management now owns 389,408 shares of the software maker’s stock valued at $14,128,000 after acquiring an additional 35,113 shares during the last quarter. Oppenheimer Asset Management Inc. grew 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 valued at $357,000 after purchasing an additional 622 shares in the last quarter. ABS Direct Equity Fund LLC increased its position in shares of PAR Technology by 73.3% during the 4th quarter. ABS Direct Equity Fund LLC now owns 130,000 shares of the software maker’s stock worth $4,716,000 after purchasing an additional 55,000 shares during the last quarter. UBS Group AG increased its position in shares of PAR Technology by 1.8% during the 4th quarter. UBS Group AG now owns 199,208 shares of the software maker’s stock worth $7,227,000 after purchasing an additional 3,536 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of PAR Technology by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 3,304,052 shares of the software maker’s stock worth $119,871,000 after purchasing an additional 12,250 shares in the last quarter.

PAR Technology Company Profile

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.