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

PAR Technology (NYSE:PAR) had its target price cut by The Goldman Sachs Group from $40.00 to $18.00 in a research note published on Tuesday,Benzinga reports. They currently have a neutral rating on the software maker’s stock.

PAR has been the subject of several other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PAR Technology in a research report on Monday, December 29th. Stephens reduced 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, February 27th. Needham & Company LLC decreased their price target on shares of PAR Technology from $55.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Finally, BTIG Research dropped their price target on shares of PAR Technology from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Five 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

PAR Technology Trading Up 2.9%

NYSE:PAR opened at $17.47 on Tuesday. The company has a market cap of $718.89 million, a PE ratio of -8.40 and a beta of 1.36. The company has a current ratio of 1.66, a quick ratio of 1.46 and a debt-to-equity ratio of 0.45. The company has a 50 day simple moving average of $28.85 and a two-hundred day simple moving average of $35.88. PAR Technology has a 12 month low of $15.44 and a 12 month high of $72.15.

PAR Technology (NYSE:PAR) last issued its quarterly earnings data 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 analyst estimates of $116.39 million. PAR Technology had a negative return on equity of 2.32% and a negative net margin of 18.54%.The business’s revenue was up 14.4% compared to the same quarter last year. Research analysts forecast that PAR Technology will post -1.47 earnings per share for the current year.

Insider Activity at PAR Technology

In related news, major shareholder Voss Capital, Lp acquired 146,789 shares of the business’s stock in a transaction on Tuesday, December 30th. The stock was acquired at an average cost of $36.51 per share, with a total value of $5,359,266.39. Following the acquisition, the insider directly owned 3,564,652 shares in the company, valued at $130,145,444.52. This represents a 4.29% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 completion of the transaction, 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 position. The SEC filing for this sale provides additional information. Insiders acquired a total of 196,035 shares of company stock valued at $7,103,730 over the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. FNY Investment Advisers LLC purchased a new position in PAR Technology during the 3rd quarter worth approximately $26,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of PAR Technology in the 3rd quarter valued at $28,000. Huntington National Bank increased its stake in shares of PAR Technology by 66.2% in 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 purchased a new position in shares of PAR Technology during the fourth quarter worth $34,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of PAR Technology during the fourth 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.