PAR Technology (NYSE:PAR) Reaches New 52-Week Low – Here’s Why

PAR Technology Corporation (NYSE:PAR) shares reached a new 52-week low on Thursday . The company traded as low as $27.29 and last traded at $27.7370, with a volume of 718625 shares. The stock had previously closed at $28.55.

Wall Street Analyst Weigh In

Several research firms recently commented on PAR. William Blair reaffirmed an “outperform” rating on shares of PAR Technology in a report on Tuesday, October 14th. BTIG Research restated a “buy” rating on shares of PAR Technology in a report on Tuesday, January 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 target price on shares of PAR Technology in a research note on Friday, January 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of PAR Technology in a research report on Monday, December 29th. Finally, The Goldman Sachs Group cut their price objective on shares of PAR Technology from $50.00 to $38.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, PAR Technology has a consensus rating of “Moderate Buy” and an average price target of $64.00.

PAR Technology Stock Performance

The firm’s fifty day moving average is $35.39 and its 200-day moving average is $42.80. The company has a current ratio of 1.70, a quick ratio of 1.51 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $1.12 billion, a PE ratio of -12.90 and a beta of 1.35.

PAR Technology (NYSE:PAR) last announced its quarterly earnings results on Thursday, November 6th. The software maker reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). PAR Technology had a negative net margin of 19.21% and a negative return on equity of 2.56%. The company had revenue of $119.18 million for the quarter, compared to analyst estimates of $112.23 million. During the same quarter in the prior year, the business earned ($0.09) earnings per share. PAR Technology’s revenue was up 23.1% on a year-over-year basis. As a group, research analysts anticipate that PAR Technology Corporation will post -1.47 earnings per share for the current year.

Insider Activity

In other news, major shareholder Voss Capital, Lp bought 146,789 shares of the stock in a transaction that occurred on Tuesday, December 30th. The stock was bought at an average cost of $36.51 per share, for a total transaction of $5,359,266.39. Following the acquisition, the insider directly owned 3,564,652 shares of the company’s stock, valued at $130,145,444.52. The trade was a 4.29% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Bryan A. Menar sold 6,500 shares of PAR Technology stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $35.53, for a total value of $230,945.00. Following the completion of the transaction, the chief financial officer directly owned 71,481 shares of the company’s stock, valued at approximately $2,539,719.93. This represents a 8.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have purchased 196,035 shares of company stock worth $7,103,730. 3.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PAR Technology

Large investors have recently added to or reduced their stakes in the business. Huntington National Bank grew its stake 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 worth $30,000 after acquiring an additional 174 shares in the last quarter. Advisors Asset Management Inc. grew its stake in PAR Technology by 68.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 563 shares of the software maker’s stock worth $39,000 after purchasing an additional 229 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in PAR Technology by 9.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,095 shares of the software maker’s stock worth $353,000 after purchasing an additional 437 shares during the period. Farther Finance Advisors LLC raised its position in PAR Technology by 31.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,835 shares of the software maker’s stock valued at $127,000 after purchasing an additional 438 shares in the last quarter. Finally, SkyView Investment Advisors LLC raised its position in PAR Technology by 3.3% in the 2nd quarter. SkyView Investment Advisors LLC now owns 16,915 shares of the software maker’s stock valued at $1,153,000 after purchasing an additional 548 shares in the last quarter.

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.