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

PAR Technology Corporation (NYSE:PAR) shares hit a new 52-week low 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 traded. The stock had previously closed at $16.39.

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

Insider Transactions at PAR Technology

In other news, major shareholder Voss Capital, Lp bought 25,000 shares of PAR Technology stock in a transaction on Tuesday, January 6th. The stock was acquired at an average price of $34.56 per share, with a total value of $864,000.00. Following the completion of the acquisition, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Bryan A. Menar sold 6,500 shares of the firm’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 value of $230,945.00. Following the completion of the transaction, the chief financial officer owned 71,481 shares in the company, valued at approximately $2,539,719.93. This trade represents a 8.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have bought 196,035 shares of company stock valued at $7,103,730 in the last three months. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Greenstone Partners & Co. LLC acquired a new stake in PAR Technology during the 4th quarter worth $36,981,000. Long Focus Capital Management LLC lifted 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 worth $34,734,000 after buying an additional 857,218 shares in the last quarter. SG Americas Securities LLC acquired a new position in PAR Technology during the fourth quarter worth about $27,274,000. Capital Research Global Investors grew its stake in PAR Technology by 17.3% during 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 acquiring an additional 476,839 shares in the last quarter. Finally, Reinhart Partners LLC. lifted its stake in PAR Technology by 45.6% in the 4th quarter. Reinhart Partners LLC. now owns 1,309,860 shares of the software maker’s stock worth $47,522,000 after purchasing an additional 410,183 shares in the last quarter.

PAR Technology Trading Down 3.6%

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 fifty day moving average price of $29.66 and a two-hundred day moving average price of $36.38. The firm has a market capitalization of $649.92 million, a price-to-earnings ratio of -7.59 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 EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.16. The firm had revenue of $120.10 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. As a group, research analysts forecast 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.