PAR Technology (NYSE:PAR) Hits New 12-Month Low on Analyst Downgrade

PAR Technology Corporation (NYSE:PAR) hit a new 52-week low during mid-day trading on Monday after The Goldman Sachs Group lowered their price target on the stock from $40.00 to $18.00. The Goldman Sachs Group currently has a neutral 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.

A number of other analysts have also weighed in on the stock. Needham & Company LLC reduced their price objective on shares of PAR Technology from $55.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, February 27th. BTIG Research reduced their price target on shares of PAR Technology from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Stephens decreased their price objective on shares of PAR Technology from $60.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, February 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of PAR Technology in a research note on Monday, December 29th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, PAR Technology currently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Insiders Place Their Bets

In other PAR Technology news, CFO Bryan A. Menar sold 6,500 shares of the firm’s 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 transaction, the chief financial officer directly owned 71,481 shares of the company’s stock, valued at approximately $2,539,719.93. This trade represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Voss Capital, Lp purchased 146,789 shares of the business’s stock in a transaction on Tuesday, December 30th. The shares were purchased at an average price 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. This trade represents a 4.29% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 196,035 shares of company stock worth $7,103,730. Company insiders own 3.70% of the company’s stock.

Institutional Trading of PAR Technology

Several large investors have recently added to or reduced their stakes in the business. Huntington National Bank increased its holdings in PAR Technology by 66.2% during the second quarter. Huntington National Bank now owns 437 shares of the software maker’s stock valued at $30,000 after buying an additional 174 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of PAR Technology by 68.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 563 shares of the software maker’s stock valued at $39,000 after acquiring an additional 229 shares during the period. ProShare Advisors LLC increased its stake in shares of PAR Technology by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 7,330 shares of the software maker’s stock worth $266,000 after purchasing an additional 471 shares in the last quarter. SkyView Investment Advisors LLC increased its stake in shares of PAR Technology by 3.3% in the 2nd 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 in the last quarter. Finally, Ameritas Investment Partners Inc. raised its holdings in PAR Technology by 16.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,095 shares of the software maker’s stock worth $284,000 after purchasing an additional 577 shares during the period.

PAR Technology Stock Up 2.9%

The company has a 50-day moving average of $28.85 and a two-hundred day moving average of $35.88. 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 company has a market capitalization of $718.89 million, a PE ratio of -8.40 and a beta of 1.36.

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 analysts’ consensus estimates of ($0.10) by $0.16. PAR Technology had a negative return on equity of 2.32% and a negative net margin of 18.54%.The business had revenue of $120.10 million during the quarter, compared to analysts’ expectations of $116.39 million. The company’s revenue was up 14.4% on a year-over-year basis. Sell-side analysts anticipate that PAR Technology Corporation will post -1.47 earnings per share for the current fiscal 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.