PAR Technology (NYSE:PAR) Trading Down 6.8% – Here’s Why

PAR Technology Corporation (NYSE:PAR) shares fell 6.8% on Thursday . The stock traded as low as $15.92 and last traded at $15.8950. Approximately 188,704 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 1,599,849 shares. The stock had previously closed at $17.06.

Analyst Ratings Changes

PAR has been the topic of several recent analyst reports. UBS Group set a $16.00 target price on shares of PAR Technology in a report on Tuesday, June 9th. Jefferies Financial Group set a $18.00 price target on PAR Technology in a research report on Saturday, May 9th. William Blair reiterated an “outperform” rating on shares of PAR Technology in a report on Friday, March 13th. The Goldman Sachs Group increased their price objective on PAR Technology from $18.00 to $20.50 and gave the company a “neutral” rating in a research report on Thursday. Finally, Benchmark lowered their price objective on shares of PAR Technology from $42.00 to $33.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $26.17.

PAR Technology Price Performance

The company has a quick ratio of 1.83, a current ratio of 2.10 and a debt-to-equity ratio of 0.51. The stock’s 50-day moving average price is $15.37 and its 200 day moving average price is $20.10. The firm has a market cap of $695.52 million, a price-to-earnings ratio of -9.02 and a beta of 1.32.

PAR Technology (NYSE:PAR) last released its earnings results on Thursday, May 7th. The software maker reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. PAR Technology had a negative return on equity of 2.57% and a negative net margin of 16.04%.The business had revenue of $123.97 million for the quarter, compared to the consensus estimate of $116.88 million. During the same period last year, the business earned ($0.01) earnings per share. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. Equities research analysts predict that PAR Technology Corporation will post -0.16 earnings per share for the current year.

Insider Transactions at PAR Technology

In other news, insider Cathy A. King sold 20,000 shares of PAR Technology stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $15.38, for a total value of $307,600.00. Following the completion of the transaction, the insider owned 122,919 shares in the company, valued at approximately $1,890,494.22. The trade was a 13.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Voss Capital, Lp bought 594,900 shares of PAR Technology stock in a transaction dated Thursday, May 14th. The stock was acquired at an average cost of $14.59 per share, for a total transaction of $8,679,591.00. Following the completion of the acquisition, the insider directly owned 4,675,000 shares in the company, valued at $68,208,250. This represents a 14.58% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 1,069,900 shares of company stock worth $15,568,965. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On PAR Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Long Focus Capital Management LLC increased 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 valued at $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 4th quarter worth about $27,274,000. Reinhart Partners LLC. lifted its position in PAR Technology by 45.6% during the 4th quarter. Reinhart Partners LLC. now owns 1,309,860 shares of the software maker’s stock worth $47,522,000 after buying an additional 410,183 shares in the last quarter. Stephens Investment Management Group LLC grew its holdings in PAR Technology by 77.9% during the 4th quarter. Stephens Investment Management Group LLC now owns 282,790 shares of the software maker’s stock worth $10,260,000 after acquiring an additional 123,831 shares during the last quarter. Finally, Rock Creek Group LP grew its holdings in PAR Technology by 316.7% during the 4th quarter. Rock Creek Group LP now owns 250,000 shares of the software maker’s stock worth $9,070,000 after acquiring an additional 190,000 shares during 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.