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

PAR Technology Corporation (NYSE:PAR) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $27.29 and last traded at $27.7370, with a volume of 718625 shares changing hands. The stock had previously closed at $28.55.

Analyst Ratings Changes

Several analysts have weighed in on PAR shares. Needham & Company LLC reissued a “buy” rating and set a $55.00 target price on shares of PAR Technology in a research report on Friday, January 9th. The Goldman Sachs Group lowered their price objective on shares of PAR Technology from $50.00 to $38.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. BTIG Research reissued a “buy” rating on shares of PAR Technology in a research report on Tuesday, January 13th. Weiss Ratings restated a “sell (d-)” rating on shares of PAR Technology in a research note on Monday, December 29th. Finally, William Blair reiterated an “outperform” rating on shares of PAR Technology in a research note on Tuesday, October 14th. Six equities 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $64.00.

PAR Technology Stock Performance

The firm’s 50 day moving average is $35.39 and its 200-day moving average is $42.80. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -12.90 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.

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

Insider Activity at PAR Technology

In other news, CFO Bryan A. Menar sold 6,500 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was 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 filing with the SEC, which is available at the SEC website. Also, major shareholder Voss Capital, Lp acquired 146,789 shares of PAR Technology stock in a transaction on Tuesday, December 30th. The shares were bought at an average price of $36.51 per share, with a total value of $5,359,266.39. Following the completion of the transaction, the insider directly owned 3,564,652 shares of the company’s stock, valued at $130,145,444.52. This trade represents a 4.29% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have bought 196,035 shares of company stock valued at $7,103,730. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On PAR Technology

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada raised its stake in 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 last quarter. AQR Capital Management LLC purchased a new stake in shares of PAR Technology during the first quarter worth $309,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of PAR Technology by 4.6% in the first 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 lifted its stake in shares of PAR Technology by 186,466.7% in the first quarter. Jones Financial Companies Lllp now owns 5,597 shares of the software maker’s stock worth $343,000 after buying an additional 5,594 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in PAR Technology by 28.5% during the first quarter. Goldman Sachs Group Inc. now owns 231,494 shares of the software maker’s stock worth $14,200,000 after acquiring an additional 51,316 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.