PAR Technology (NYSE:PAR) Reaches New 12-Month Low Following Analyst Downgrade

Shares of PAR Technology Corporation (NYSE:PAR) reached a new 52-week low during mid-day trading on Monday after Stephens lowered their price target on the stock from $60.00 to $45.00. Stephens currently has an overweight 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.

Several other research firms have also recently commented on PAR. BTIG Research lowered their target price on PAR Technology from $60.00 to $45.00 and set a “buy” rating for the company in a research note on Friday. Needham & Company LLC reduced their price target on PAR Technology from $55.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of PAR Technology in a research report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, PAR Technology currently has a consensus rating of “Moderate Buy” and an average target price of $47.00.

Insider Buying and Selling

In other news, CFO Bryan A. Menar sold 6,500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer owned 71,481 shares in the company, valued at approximately $2,539,719.93. The trade was a 8.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Voss Capital, Lp purchased 146,789 shares of PAR Technology stock in a transaction that occurred on Tuesday, December 30th. The stock was bought at an average cost of $36.51 per share, with a total value of $5,359,266.39. Following the completion of the transaction, the insider owned 3,564,652 shares of the company’s stock, valued at $130,145,444.52. The trade was a 4.29% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 196,035 shares of company stock valued at $7,103,730 over the last ninety days. 3.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PAR. Stephens Investment Management Group LLC boosted its stake in PAR Technology by 54.4% in the 3rd quarter. Stephens Investment Management Group LLC now owns 158,959 shares of the software maker’s stock worth $6,292,000 after buying an additional 56,036 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of PAR Technology by 13.2% during the 2nd quarter. Geode Capital Management LLC now owns 942,503 shares of the software maker’s stock worth $65,389,000 after acquiring an additional 110,160 shares during the period. Invesco Ltd. lifted its holdings in shares of PAR Technology by 24.1% during the 2nd quarter. Invesco Ltd. now owns 1,877,239 shares of the software maker’s stock worth $130,224,000 after acquiring an additional 364,892 shares during the period. AXA S.A. boosted its position in shares of PAR Technology by 360.1% in the second quarter. AXA S.A. now owns 298,985 shares of the software maker’s stock worth $20,741,000 after acquiring an additional 234,009 shares during the last quarter. Finally, Bamco Inc. NY grew its holdings in PAR Technology by 8.5% in the second quarter. Bamco Inc. NY now owns 1,751,387 shares of the software maker’s stock valued at $121,494,000 after purchasing an additional 137,434 shares during the period.

PAR Technology Stock Up 3.5%

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 firm’s 50-day moving average is $29.25 and its 200 day moving average is $36.13. The stock has a market cap of $698.07 million, a price-to-earnings ratio of -8.16 and a beta of 1.36.

PAR Technology (NYSE:PAR) last announced its quarterly earnings data on Thursday, February 26th. The software maker reported $0.06 earnings per share (EPS) for the quarter, beating 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 firm’s quarterly revenue was up 14.4% compared to the same quarter last year. 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.