PAR Technology (NYSE:PAR) Sets New 1-Year Low – Time to Sell?

PAR Technology Corporation (NYSE:PAR) shares hit a new 52-week low on Wednesday . The company traded as low as $22.19 and last traded at $22.6930, with a volume of 3172466 shares trading hands. The stock had previously closed at $24.66.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PAR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of PAR Technology in a research report on Monday, December 29th. William Blair reissued an “outperform” rating on shares of PAR Technology in a research report on Tuesday, October 14th. The Goldman Sachs Group reduced their target price on shares of PAR Technology from $50.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Needham & Company LLC reiterated a “buy” rating and set a $55.00 target price on shares of PAR Technology in a report on Friday, January 9th. Finally, BTIG Research reissued a “buy” rating and issued a $60.00 target price on shares of PAR Technology in a report on Friday, January 30th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, PAR Technology has an average rating of “Moderate Buy” and a consensus target price of $64.00.

PAR Technology Price Performance

The firm has a 50-day moving average of $34.04 and a 200 day moving average of $40.79. The company has a market capitalization of $901.91 million, a PE ratio of -10.38 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.

PAR Technology (NYSE:PAR) last announced its quarterly earnings results on Thursday, November 6th. The software maker reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The company had revenue of $119.18 million for the quarter, compared to analysts’ expectations of $112.23 million. PAR Technology had a negative net margin of 19.21% and a negative return on equity of 2.56%. The business’s revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.09) EPS. As a group, research analysts anticipate that PAR Technology Corporation will post -1.47 earnings per share for the current fiscal year.

Insider Transactions at PAR Technology

In other news, CFO Bryan A. Menar sold 6,500 shares of PAR Technology stock in a transaction 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 transaction, the chief financial officer owned 71,481 shares in the company, valued at $2,539,719.93. This trade represents a 8.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Voss Capital, Lp acquired 146,789 shares of PAR Technology stock in a transaction dated Tuesday, December 30th. The stock was bought at an average price of $36.51 per share, with a total value of $5,359,266.39. Following the completion of the purchase, 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 ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders acquired 196,035 shares of company stock worth $7,103,730. 3.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PAR Technology

Several institutional investors and hedge funds have recently bought and sold shares of PAR. Vanguard Group Inc. raised its stake in shares of PAR Technology by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 3,304,052 shares of the software maker’s stock worth $119,871,000 after buying an additional 12,250 shares during the period. Capital Research Global Investors lifted its holdings in PAR Technology by 17.3% during the third quarter. Capital Research Global Investors now owns 3,237,004 shares of the software maker’s stock valued at $128,121,000 after purchasing an additional 476,839 shares in the last quarter. Invesco Ltd. boosted its position in shares of PAR Technology by 24.1% in the second quarter. Invesco Ltd. now owns 1,877,239 shares of the software maker’s stock worth $130,224,000 after purchasing an additional 364,892 shares during the period. Bamco Inc. NY raised its position in shares of PAR Technology by 8.5% during the 2nd 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. Finally, Progeny 3 Inc. boosted its holdings in PAR Technology by 16.9% in the 3rd quarter. Progeny 3 Inc. now owns 1,732,318 shares of the software maker’s stock worth $68,565,000 after buying an additional 249,923 shares during the period.

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.