PAR Technology (NYSE:PAR) Sets New 1-Year Low – What’s Next?

Shares of PAR Technology Corporation (NYSE:PAR) hit a new 52-week low during trading on Friday . The stock traded as low as $12.48 and last traded at $13.5240, with a volume of 4532316 shares traded. The stock had previously closed at $15.85.

Wall Street Analysts Forecast Growth

PAR has been the subject of a number of analyst reports. Needham & Company LLC decreased their price target on PAR Technology from $55.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, February 27th. The Goldman Sachs Group decreased their target price on PAR Technology from $40.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Stephens reduced their target price on PAR Technology from $60.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, February 27th. BTIG Research dropped their price target on PAR Technology from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PAR Technology in a research note on Monday, December 29th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, PAR Technology has an average rating of “Moderate Buy” and a consensus target price of $36.00.

PAR Technology Stock Down 14.8%

The firm has a 50-day moving average of $26.18 and a two-hundred day moving average of $34.44. The stock has a market capitalization of $555.73 million, a price-to-earnings ratio of -6.47 and a beta of 1.36. The company has a quick ratio of 1.46, a current ratio of 1.66 and a debt-to-equity ratio of 0.45.

PAR Technology (NYSE:PAR) last released its earnings results 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 analysts’ expectations of $116.39 million. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, sell-side analysts anticipate that PAR Technology Corporation will post -1.47 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Bryan A. Menar sold 1,636 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $18.27, for a total value of $29,889.72. Following the completion of the transaction, the chief financial officer owned 63,257 shares in the company, valued at $1,155,705.39. This trade represents a 2.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cathy A. King sold 1,517 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $18.27, for a total value of $27,715.59. Following the completion of the transaction, the insider directly owned 56,626 shares of the company’s stock, valued at $1,034,557.02. This represents a 2.61% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders acquired 722,237 shares of company stock valued at $21,772,998 and sold 90,689 shares valued at $1,600,226. 3.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PAR Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. lifted its holdings in shares of PAR Technology by 3.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,916,459 shares of the software maker’s stock worth $214,650,000 after acquiring an additional 201,782 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of PAR Technology by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 3,304,052 shares of the software maker’s stock worth $119,871,000 after purchasing an additional 12,250 shares in the last quarter. Capital Research Global Investors raised its position in shares of 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 valued at $128,121,000 after purchasing an additional 476,839 shares during the period. Progeny 3 Inc. lifted its stake in shares of PAR Technology by 18.7% during the 4th quarter. Progeny 3 Inc. now owns 2,056,308 shares of the software maker’s stock valued at $74,603,000 after buying an additional 323,990 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in PAR Technology by 24.1% in 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.