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

PAR Technology Corporation (NYSE:PAR) fell 9.4% during trading on Monday . The stock traded as low as $20.17 and last traded at $19.8050. 109,504 shares changed hands during trading, a decline of 91% from the average session volume of 1,209,225 shares. The stock had previously closed at $21.87.

Wall Street Analysts Forecast Growth

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

PAR Technology Trading Down 10.5%

The company has a quick ratio of 1.51, a current ratio of 1.70 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $794.77 million, a P/E ratio of -9.15 and a beta of 1.35. The firm’s 50 day simple moving average is $31.30 and its two-hundred day simple moving average is $37.45.

Insider Buying and Selling

In related news, CFO Bryan A. Menar sold 6,500 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $35.53, for a total value of $230,945.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Voss Capital, Lp acquired 25,000 shares of the stock in a transaction on Tuesday, January 6th. The shares were acquired at an average price 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 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. Insiders acquired 196,035 shares of company stock valued at $7,103,730 in the last three months. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. FNY Investment Advisers LLC bought a new stake in PAR Technology during the third quarter worth $26,000. Aster Capital Management DIFC Ltd bought a new stake in shares of PAR Technology in the 3rd quarter worth $28,000. Huntington National Bank raised its holdings in shares of 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 last quarter. State of Wyoming bought a new position in shares of PAR Technology during the fourth quarter valued at about $34,000. Finally, Kestra Advisory Services LLC purchased a new position in PAR Technology during the fourth quarter worth about $35,000.

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.