PAR Technology (NYSE:PAR) Shares Down 9.4% – Here’s Why

PAR Technology Corporation (NYSE:PAR) fell 9.4% during mid-day trading on Monday . The stock traded as low as $20.17 and last traded at $19.8050. 109,504 shares were traded during trading, a decline of 91% from the average session volume of 1,209,225 shares. The stock had previously closed at $21.87.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PAR. Needham & Company LLC restated a “buy” rating and set a $55.00 target price on shares of PAR Technology in a report on Friday, January 9th. BTIG Research reiterated a “buy” rating and set a $60.00 price objective on shares of PAR Technology in a research report on Friday, January 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of PAR Technology in a report on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

PAR Technology Stock Up 4.5%

The stock has a market capitalization of $840.21 million, a price-to-earnings ratio of -9.67 and a beta of 1.35. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.70 and a quick ratio of 1.51. The business has a fifty day moving average of $30.66 and a 200 day moving average of $36.99.

Insider Transactions at PAR Technology

In related news, CFO Bryan A. Menar sold 6,500 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $35.53, for a total value of $230,945.00. Following the sale, the chief financial officer directly 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 is accessible through this link. Also, major shareholder Voss Capital, Lp bought 25,000 shares of the firm’s stock in a transaction on Tuesday, January 6th. The stock was bought at an average cost of $34.56 per share, for a total transaction of $864,000.00. Following the transaction, the insider directly owned 3,613,898 shares of the company’s stock, valued at $124,896,314.88. The trade was a 0.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 196,035 shares of company stock valued at $7,103,730 over the last three months. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On PAR Technology

A number of hedge funds have recently made changes to their positions in PAR. Greenstone Partners & Co. LLC purchased a new stake in PAR Technology in the fourth quarter valued at approximately $36,981,000. Long Focus Capital Management LLC grew its stake in shares of PAR Technology by 4,210.9% in the third quarter. Long Focus Capital Management LLC now owns 877,575 shares of the software maker’s stock valued at $34,734,000 after buying an additional 857,218 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of PAR Technology in the fourth quarter valued at $27,274,000. Capital Research Global Investors raised its holdings in shares of PAR Technology by 17.3% in the 3rd quarter. Capital Research Global Investors now owns 3,237,004 shares of the software maker’s stock valued at $128,121,000 after buying an additional 476,839 shares during the period. Finally, Reinhart Partners LLC. lifted its stake in PAR Technology by 45.6% during the 4th quarter. Reinhart Partners LLC. now owns 1,309,860 shares of the software maker’s stock worth $47,522,000 after acquiring an additional 410,183 shares in the last quarter.

PAR Technology Company Profile

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.