PAR Technology (NYSE:PAR) Sets New 1-Year Low – Here’s Why

PAR Technology Corporation (NYSE:PAR) reached a new 52-week low on Tuesday . The company traded as low as $19.30 and last traded at $19.57, with a volume of 1245386 shares traded. The stock had previously closed at $21.87.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PAR Technology in a research note on Monday, December 29th. BTIG Research reissued a “buy” rating and set a $60.00 price target 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 objective on shares of PAR Technology in a research report on Friday, January 9th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, PAR Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

PAR Technology Price Performance

The stock has a 50-day simple moving average of $30.97 and a 200 day simple moving average of $37.18. The company has a market cap of $794.35 million, a PE ratio of -9.14 and a beta of 1.35. The company has a quick ratio of 1.51, a current ratio of 1.70 and a debt-to-equity ratio of 0.45.

Insider Activity

In other PAR Technology news, CFO Bryan A. Menar sold 6,500 shares of PAR Technology stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Voss Capital, Lp acquired 25,000 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The stock was bought at an average price of $34.56 per share, for a total transaction of $864,000.00. Following the completion of the acquisition, the insider owned 3,613,898 shares in the company, valued at approximately $124,896,314.88. The trade was a 0.70% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders purchased 196,035 shares of company stock worth $7,103,730. 3.70% of the stock is owned by insiders.

Institutional Trading of PAR Technology

Several institutional investors have recently added to or reduced their stakes in PAR. Huntington National Bank raised its position in PAR Technology by 66.2% in the second quarter. Huntington National Bank now owns 437 shares of the software maker’s stock valued at $30,000 after purchasing an additional 174 shares during the period. Advisors Asset Management Inc. boosted its position in shares of PAR Technology by 68.6% during the second quarter. Advisors Asset Management Inc. now owns 563 shares of the software maker’s stock worth $39,000 after buying an additional 229 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of PAR Technology by 9.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 5,095 shares of the software maker’s stock valued at $353,000 after buying an additional 437 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of PAR Technology by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 7,330 shares of the software maker’s stock valued at $266,000 after buying an additional 471 shares during the period. Finally, SkyView Investment Advisors LLC raised its holdings in shares of PAR Technology by 3.3% in the 2nd quarter. SkyView Investment Advisors LLC now owns 16,915 shares of the software maker’s stock valued at $1,153,000 after buying an additional 548 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.