The Goldman Sachs Group Cuts PAR Technology (NYSE:PAR) Price Target to $18.00

PAR Technology (NYSE:PAR) had its price target dropped by equities research analysts at The Goldman Sachs Group from $40.00 to $18.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the software maker’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 8.29% from the company’s current price.

A number of other research firms have also commented on PAR. Stephens lowered their target price on shares of PAR Technology from $60.00 to $45.00 and set an “overweight” rating for the company in a report on Friday. Needham & Company LLC cut their price target on PAR Technology from $55.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of PAR Technology in a research report on Monday, December 29th. Finally, BTIG Research dropped 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. Five equities 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

PAR Technology Trading Down 2.1%

NYSE:PAR traded down $0.35 on Tuesday, hitting $16.62. 85,371 shares of the stock were exchanged, compared to its average volume of 1,360,971. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.46 and a current ratio of 1.66. PAR Technology has a 52 week low of $15.44 and a 52 week high of $72.15. The stock has a market capitalization of $684.00 million, a price-to-earnings ratio of -7.90 and a beta of 1.36. The company’s 50-day moving average price is $29.25 and its 200 day moving average price is $36.13.

PAR Technology (NYSE:PAR) last issued its quarterly earnings results on Thursday, February 26th. The software maker reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.16. The company had revenue of $120.10 million during the quarter, compared to analysts’ expectations of $116.39 million. PAR Technology had a negative net margin of 18.54% and a negative return on equity of 2.32%. The company’s quarterly revenue was up 14.4% on a year-over-year basis. On average, equities research analysts forecast that PAR Technology will post -1.47 earnings per share for the current year.

Insider Transactions at PAR Technology

In other PAR Technology news, major shareholder Voss Capital, Lp bought 146,789 shares of the firm’s stock in a transaction on Tuesday, December 30th. The stock was purchased at an average cost of $36.51 per share, with a total value of $5,359,266.39. Following the completion of the purchase, the insider owned 3,564,652 shares in the company, valued at approximately $130,145,444.52. The trade was a 4.29% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Bryan A. Menar sold 6,500 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $35.53, for a total value of $230,945.00. Following the completion of the sale, the chief financial officer owned 71,481 shares of the company’s stock, valued at $2,539,719.93. This trade represents a 8.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders acquired 196,035 shares of company stock valued at $7,103,730. Insiders own 3.70% of the company’s stock.

Institutional Trading of PAR Technology

Several hedge funds have recently bought and sold shares of the stock. FNY Investment Advisers LLC bought a new position in PAR Technology in the third quarter valued at approximately $26,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of PAR Technology during the third quarter worth $28,000. Huntington National Bank raised its holdings in shares of PAR Technology by 66.2% during the second quarter. Huntington National Bank now owns 437 shares of the software maker’s stock worth $30,000 after acquiring an additional 174 shares during the period. State of Wyoming bought a new stake in PAR Technology in the 4th quarter valued at $34,000. Finally, Kestra Advisory Services LLC acquired a new position in PAR Technology in the 4th quarter worth $35,000.

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.