PAR Technology (NYSE:PAR) Stock Price Down 6% – Here’s What Happened

PAR Technology Corporation (NYSE:PAR)’s share price fell 6% during trading on Tuesday . The company traded as low as $18.77 and last traded at $18.5860. 59,188 shares changed hands during trading, a decline of 96% from the average daily volume of 1,418,160 shares. The stock had previously closed at $19.77.

Wall Street Analysts Forecast Growth

PAR has been the subject of a number of research reports. BTIG Research dropped their price objective on shares of PAR Technology from $45.00 to $30.00 and set a “buy” rating for the company in a report on Friday, August 7th. UBS Group set a $16.00 price objective on PAR Technology in a research report on Tuesday, June 9th. Royal Bank Of Canada set a $16.00 target price on PAR Technology in a report on Tuesday, June 9th. JPMorgan Chase & Co. upped their price target on PAR Technology from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Finally, The Goldman Sachs Group lifted their price objective on PAR Technology from $18.00 to $20.50 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.61.

PAR Technology Stock Performance

The company has a debt-to-equity ratio of 0.52, a current ratio of 2.21 and a quick ratio of 1.89. The company has a market capitalization of $761.44 million, a price-to-earnings ratio of -10.46 and a beta of 1.33. The stock has a 50 day simple moving average of $17.85 and a two-hundred day simple moving average of $16.11.

PAR Technology (NYSE:PAR) last released its quarterly earnings data on Thursday, August 6th. The software maker reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.06. PAR Technology had a negative return on equity of 1.62% and a negative net margin of 14.52%.The business had revenue of $133.41 million during the quarter, compared to analysts’ expectations of $124.66 million. During the same period in the prior year, the firm posted $0.03 EPS. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. As a group, analysts anticipate that PAR Technology Corporation will post -0.13 earnings per share for the current year.

Insider Activity at PAR Technology

In related news, Director Narinder Singh bought 11,518 shares of the stock in a transaction dated Wednesday, August 12th. The stock was acquired at an average price of $17.36 per share, for a total transaction of $199,952.48. Following the acquisition, the director owned 38,527 shares in the company, valued at approximately $668,828.72. This represents a 42.65% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Voss Capital, Lp bought 193,751 shares of the stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $14.15 per share, with a total value of $2,741,576.65. Following the acquisition, the insider owned 4,968,751 shares in the company, valued at approximately $70,307,826.65. This represents a 4.06% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 361,518 shares of company stock worth $5,261,827 over the last quarter. 2.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PAR Technology

Several large investors have recently bought and sold shares of the stock. State of Wyoming purchased a new stake in shares of PAR Technology in the 4th quarter valued at about $34,000. Kestra Advisory Services LLC purchased a new position in PAR Technology during the 4th quarter worth approximately $35,000. Bamco Inc. NY acquired a new position in PAR Technology during the second quarter worth approximately $38,000. Versant Capital Management Inc increased its position in PAR Technology by 325.5% during the second quarter. Versant Capital Management Inc now owns 5,110 shares of the software maker’s stock worth $89,000 after buying an additional 3,909 shares during the period. Finally, MidFirst Bank purchased a new stake in PAR Technology in the fourth quarter valued at approximately $113,000.

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.