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

PAR Technology Corporation (NYSE:PAR)’s share price traded down 9.4% during 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.

Analyst Ratings Changes

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

PAR Technology Stock Down 10.5%

The stock’s 50 day moving average is $31.30 and its 200 day moving average is $37.45. The company has a market capitalization of $794.77 million, a PE ratio of -9.15 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.

Insiders Place Their Bets

In related news, major shareholder Voss Capital, Lp purchased 146,789 shares of PAR Technology stock in a transaction dated Tuesday, December 30th. The stock was bought at an average cost of $36.51 per share, for a total transaction of $5,359,266.39. Following the completion of the transaction, the insider owned 3,564,652 shares in the company, valued at $130,145,444.52. This trade represents a 4.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Bryan A. Menar sold 6,500 shares of the stock in a transaction dated Wednesday, December 10th. The stock was 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 $2,539,719.93. This trade represents a 8.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders bought 196,035 shares of company stock valued at $7,103,730 over the last ninety days. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On PAR Technology

Several hedge funds have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. lifted its stake in PAR Technology by 3.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,916,459 shares of the software maker’s stock worth $214,650,000 after purchasing an additional 201,782 shares in the last quarter. Invesco Ltd. raised its position in shares of PAR Technology by 17.3% in the fourth quarter. Invesco Ltd. now owns 44,255 shares of the software maker’s stock worth $1,606,000 after buying an additional 6,519 shares in the last quarter. Corient Private Wealth LLC boosted its stake in PAR Technology by 78.3% during the fourth quarter. Corient Private Wealth LLC now owns 76,097 shares of the software maker’s stock valued at $2,761,000 after buying an additional 33,407 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in PAR Technology during the fourth quarter valued at $235,000. Finally, XTX Topco Ltd grew its position in PAR Technology by 41.6% during the fourth quarter. XTX Topco Ltd now owns 25,094 shares of the software maker’s stock worth $910,000 after buying an additional 7,366 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.