PAR Technology (NYSE:PAR) Shares Down 6.7% – What’s Next?

PAR Technology Corporation (NYSE:PAR) was down 6.7% on Monday . The stock traded as low as $17.34 and last traded at $17.93. Approximately 386,567 shares were traded during trading, a decline of 72% from the average daily volume of 1,373,919 shares. The stock had previously closed at $19.22.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PAR shares. Benchmark decreased their price target on PAR Technology from $77.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of PAR Technology in a research report on Monday, December 29th. The Goldman Sachs Group reduced their price objective on PAR Technology from $40.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. Stephens decreased their target price on PAR Technology from $60.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Finally, BTIG Research dropped their target price on shares of PAR Technology from $60.00 to $45.00 and set a “buy” rating for the company in a report on Friday, February 27th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

PAR Technology Stock Down 6.8%

The company has a market capitalization of $737.20 million, a price-to-earnings ratio of -8.61 and a beta of 1.36. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.66 and a quick ratio of 1.46. The firm’s fifty day moving average price is $27.76 and its 200-day moving average price is $35.19.

PAR Technology (NYSE:PAR) last released its quarterly earnings data on Thursday, February 26th. The software maker reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.16. PAR Technology had a negative return on equity of 2.32% and a negative net margin of 18.54%.The company had revenue of $120.10 million for the quarter, compared to the consensus estimate of $116.39 million. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. Sell-side analysts expect that PAR Technology Corporation will post -1.47 earnings per share for the current fiscal year.

Insider Activity at PAR Technology

In related news, CAO Michael Anthony Steenberge sold 2,342 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $17.49, for a total value of $40,961.58. Following the completion of the transaction, the chief accounting officer owned 26,439 shares in the company, valued at $462,418.11. This trade represents a 8.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Voss Capital, Lp bought 65,100 shares of PAR Technology stock in a transaction on Wednesday, February 4th. The shares were acquired at an average cost of $22.44 per share, for a total transaction of $1,460,844.00. Following the completion of the acquisition, the insider directly owned 4,140,100 shares in the company, valued at approximately $92,903,844. The trade was a 1.60% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders purchased 722,237 shares of company stock valued at $21,772,998 and sold 97,189 shares valued at $1,831,171. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PAR Technology

Several large investors have recently modified their holdings of PAR. T. Rowe Price Investment Management Inc. lifted its holdings in shares of PAR Technology by 3.5% during the fourth 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 during the period. Vanguard Group Inc. increased its holdings in PAR Technology by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 3,304,052 shares of the software maker’s stock valued at $119,871,000 after purchasing an additional 12,250 shares during the period. Capital Research Global Investors raised its position in PAR Technology by 17.3% during the 3rd quarter. Capital Research Global Investors now owns 3,237,004 shares of the software maker’s stock worth $128,121,000 after purchasing an additional 476,839 shares during the last quarter. Progeny 3 Inc. lifted its holdings in PAR Technology by 18.7% during the 4th quarter. Progeny 3 Inc. now owns 2,056,308 shares of the software maker’s stock worth $74,603,000 after buying an additional 323,990 shares during the period. Finally, Invesco Ltd. lifted its holdings in PAR Technology by 24.1% during the 2nd quarter. Invesco Ltd. now owns 1,877,239 shares of the software maker’s stock worth $130,224,000 after buying an additional 364,892 shares during the period.

About PAR Technology

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.