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

PAR Technology Corporation (NYSE:PAR)’s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $12.42 and last traded at $12.8010, with a volume of 317981 shares. The stock had previously closed at $13.56.

Analysts Set New Price Targets

PAR has been the subject of a number of analyst reports. Stephens cut their price objective on shares of PAR Technology from $60.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Benchmark lowered their target price on shares of PAR Technology from $42.00 to $33.00 and set a “buy” rating for the company in a research note on Monday, March 16th. Needham & Company LLC cut their price target on PAR Technology from $55.00 to $30.00 and set a “buy” rating for the company in a report on Friday, February 27th. The Goldman Sachs Group reduced their price target on PAR Technology from $40.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. Finally, BTIG Research decreased their price objective on PAR Technology from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.20.

PAR Technology Trading Down 5.5%

The company has a quick ratio of 1.46, a current ratio of 1.66 and a debt-to-equity ratio of 0.45. The business’s fifty day moving average is $21.09 and its 200-day moving average is $31.56. The stock has a market capitalization of $527.38 million, a PE ratio of -6.16 and a beta of 1.36.

PAR Technology (NYSE:PAR) last announced its quarterly earnings results on Thursday, February 26th. The software maker reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.16. The company had revenue of $120.10 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 14.4% on a year-over-year basis. As a group, analysts anticipate that PAR Technology Corporation will post -1.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Savneet Singh sold 57,605 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $17.49, for a total value of $1,007,511.45. Following the transaction, the chief executive officer directly owned 252,537 shares in the company, valued at $4,416,872.13. This trade represents a 18.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Voss Capital, Lp acquired 182,862 shares of PAR Technology stock in a transaction dated Tuesday, February 3rd. The stock was purchased at an average cost of $22.89 per share, for a total transaction of $4,185,711.18. Following the completion of the purchase, the insider directly owned 4,075,000 shares in the company, valued at approximately $93,276,750. This represents a 4.70% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 722,237 shares of company stock worth $21,772,998 and sold 90,689 shares worth $1,600,226. 3.70% of the stock is currently owned by company insiders.

Institutional Trading of PAR Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FNY Investment Advisers LLC acquired a new position in PAR Technology during the third quarter valued at approximately $26,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of PAR Technology in the third quarter worth $28,000. State of Wyoming acquired a new stake in shares of PAR Technology in the fourth quarter worth $34,000. Kestra Advisory Services LLC purchased a new position in shares of PAR Technology in the 4th quarter valued at $35,000. Finally, Manning & Napier Advisors LLC purchased a new position in shares of PAR Technology in the 3rd quarter valued at $36,000.

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.