PAR Technology (NYSE:PAR) Sets New 52-Week Low – Should You Sell?

PAR Technology Corporation (NYSE:PAR)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $12.42 and last traded at $12.8010, with a volume of 317981 shares traded. The stock had previously closed at $13.56.

Analysts Set New Price Targets

PAR has been the topic of a number of recent research reports. William Blair restated an “outperform” rating on shares of PAR Technology in a report on Friday, March 13th. The Goldman Sachs Group lowered their price target on shares of PAR Technology from $40.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. Benchmark decreased their target price on shares of PAR Technology from $42.00 to $33.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. Stephens cut their price target on PAR Technology from $60.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, February 27th. Finally, BTIG Research reduced 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. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $34.20.

PAR Technology Stock Down 6.0%

The firm has a fifty day simple moving average of $21.57 and a 200 day simple moving average of $31.91. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.46 and a current ratio of 1.66. The company has a market cap of $524.25 million, a PE ratio of -6.11 and a beta of 1.36.

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

Insider Buying and Selling

In other PAR Technology news, CEO Savneet Singh sold 57,605 shares of PAR Technology stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $17.49, for a total value of $1,007,511.45. Following the transaction, the chief executive officer owned 252,537 shares in the company, valued at $4,416,872.13. This trade represents a 18.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Voss Capital, Lp acquired 182,862 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were bought at an average cost of $22.89 per share, with a total value of $4,185,711.18. Following the completion of the purchase, the insider directly owned 4,075,000 shares in the company, valued at approximately $93,276,750. This trade represents a 4.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have acquired 722,237 shares of company stock worth $21,772,998 and have sold 90,689 shares worth $1,600,226. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On PAR Technology

Several hedge funds and other institutional investors have recently modified their holdings of PAR. Corient Private Wealth LLC increased its position in PAR Technology by 6.0% during the 4th quarter. Corient Private Wealth LLC now owns 45,262 shares of the software maker’s stock worth $1,642,000 after purchasing an additional 2,572 shares in the last quarter. MidFirst Bank acquired a new position in PAR Technology during the fourth quarter valued at approximately $113,000. T. Rowe Price Investment Management Inc. grew its stake in 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 buying an additional 201,782 shares during the period. Invesco Ltd. grew its stake in PAR Technology by 17.3% during the fourth quarter. Invesco Ltd. now owns 44,255 shares of the software maker’s stock worth $1,606,000 after buying an additional 6,519 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of PAR Technology in the fourth quarter worth $235,000.

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.