PAR Technology (NYSE:PAR) Sets New 52-Week Low – What’s Next?

PAR Technology Corporation (NYSE:PAR) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $21.25 and last traded at $21.4660, with a volume of 763258 shares traded. The stock had previously closed at $23.25.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PAR. William Blair reiterated an “outperform” rating on shares of PAR Technology in a research report on Tuesday, October 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of PAR Technology in a report on Monday, December 29th. BTIG Research restated a “buy” rating and set a $60.00 price objective on shares of PAR Technology in a research report on Friday, January 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $55.00 price target on shares of PAR Technology in a report on Friday, January 9th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, PAR Technology currently has an average rating of “Moderate Buy” and an average price target of $64.00.

PAR Technology Price Performance

The company has a market cap of $878.80 million, a PE ratio of -10.12 and a beta of 1.35. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.51 and a current ratio of 1.70. The company’s 50-day simple moving average is $33.60 and its 200 day simple moving average is $39.73.

Insider Buying and Selling

In other PAR Technology 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 transaction, the chief financial officer owned 71,481 shares in the company, valued at $2,539,719.93. The trade was a 8.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Voss Capital, Lp acquired 25,000 shares of the business’s stock in a transaction on Tuesday, January 6th. The shares were bought at an average cost of $34.56 per share, for a total transaction of $864,000.00. Following the acquisition, the insider owned 3,613,898 shares of the company’s stock, valued at $124,896,314.88. This represents a 0.70% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 196,035 shares of company stock worth $7,103,730 over the last 90 days. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On PAR Technology

Several hedge funds have recently made changes to their positions in the company. Royal Bank of Canada boosted its position in shares of PAR Technology by 8.0% in the 1st quarter. Royal Bank of Canada now owns 20,446 shares of the software maker’s stock valued at $1,255,000 after purchasing an additional 1,515 shares during the period. AQR Capital Management LLC acquired a new stake in shares of PAR Technology during the first quarter worth $309,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in PAR Technology by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,012 shares of the software maker’s stock valued at $1,228,000 after buying an additional 874 shares during the last quarter. Jones Financial Companies Lllp increased its stake in PAR Technology by 186,466.7% in the 1st quarter. Jones Financial Companies Lllp now owns 5,597 shares of the software maker’s stock valued at $343,000 after buying an additional 5,594 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in PAR Technology by 28.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 231,494 shares of the software maker’s stock valued at $14,200,000 after buying an additional 51,316 shares during the period.

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.