PAR Technology (NYSE:PAR) Stock Price Down 6.8% – What’s Next?

PAR Technology Corporation (NYSE:PAR) fell 6.8% during trading on Thursday . The stock traded as low as $15.92 and last traded at $15.8950. Approximately 188,704 shares traded hands during trading, a decline of 88% from the average daily volume of 1,599,849 shares. The stock had previously closed at $17.06.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PAR shares. Needham & Company LLC dropped their price target on PAR Technology from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th. Jefferies Financial Group set a $18.00 price objective on shares of PAR Technology in a report on Saturday, May 9th. UBS Group set a $16.00 price objective on shares of PAR Technology in a research report on Tuesday, June 9th. Benchmark cut their target price on shares of PAR Technology from $42.00 to $33.00 and set a “buy” rating for the company in a research note on Monday, March 16th. Finally, JPMorgan Chase & Co. lifted their target price on shares of PAR Technology from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.17.

PAR Technology Trading Down 5.5%

The company has a debt-to-equity ratio of 0.51, a current ratio of 2.10 and a quick ratio of 1.83. The business’s 50-day moving average is $15.25 and its 200 day moving average is $20.27. The firm has a market capitalization of $665.36 million, a P/E ratio of -8.62 and a beta of 1.32.

PAR Technology (NYSE:PAR) last announced its earnings results on Thursday, May 7th. The software maker reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. PAR Technology had a negative net margin of 16.04% and a negative return on equity of 2.57%. The firm had revenue of $123.97 million for the quarter, compared to analyst estimates of $116.88 million. During the same quarter in the prior year, the business posted ($0.01) EPS. The business’s revenue was up 19.4% compared to the same quarter last year. As a group, analysts anticipate that PAR Technology Corporation will post -0.16 EPS for the current fiscal year.

Insider Transactions at PAR Technology

In other news, insider Cathy A. King sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $15.38, for a total value of $307,600.00. Following the completion of the transaction, the insider directly owned 122,919 shares in the company, valued at approximately $1,890,494.22. The trade was a 13.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Voss Capital, Lp purchased 594,900 shares of PAR Technology stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average price of $14.59 per share, for a total transaction of $8,679,591.00. Following the transaction, the insider directly owned 4,675,000 shares in the company, valued at $68,208,250. This represents a 14.58% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders purchased 1,069,900 shares of company stock valued at $15,568,965. 2.30% of the stock is owned by insiders.

Institutional Investors Weigh In On PAR Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. ProShare Advisors LLC boosted its holdings in shares of PAR Technology by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 7,330 shares of the software maker’s stock valued at $266,000 after purchasing an additional 471 shares in the last quarter. SkyView Investment Advisors LLC raised its holdings in shares of PAR Technology by 3.3% during the 2nd quarter. SkyView Investment Advisors LLC now owns 16,915 shares of the software maker’s stock worth $1,153,000 after buying an additional 548 shares in the last quarter. &PARTNERS lifted its position in shares of PAR Technology by 10.6% during the 4th quarter. &PARTNERS now owns 6,444 shares of the software maker’s stock worth $234,000 after buying an additional 620 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of PAR Technology by 6.8% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 9,835 shares of the software maker’s stock worth $357,000 after buying an additional 622 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in PAR Technology in the third quarter valued at about $26,000.

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.