PAR Technology (NYSE:PAR) Sets New 12-Month Low – Time to Sell?

PAR Technology Corporation (NYSE:PAR) hit a new 52-week low on Friday . The stock traded as low as $31.53 and last traded at $31.8380, with a volume of 470465 shares traded. The stock had previously closed at $33.88.

Analyst Upgrades and Downgrades

PAR has been the topic of several recent research reports. BTIG Research reissued a “buy” rating on shares of PAR Technology in a research report on Tuesday, January 13th. Needham & Company LLC reissued a “buy” rating and set a $55.00 target price on shares of PAR Technology in a research report on Friday, January 9th. Weiss Ratings restated a “sell (d-)” rating on shares of PAR Technology in a research note on Monday, December 29th. William Blair reaffirmed an “outperform” rating on shares of PAR Technology in a research note on Tuesday, October 14th. 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 on the stock in a report on Monday, October 13th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $64.00.

PAR Technology Trading Down 6.6%

The firm has a market cap of $1.28 billion, a P/E ratio of -14.78 and a beta of 1.35. The business’s 50 day moving average is $35.76 and its 200-day moving average is $43.64. The company has a quick ratio of 1.51, a current ratio of 1.70 and a debt-to-equity ratio of 0.45.

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

Insider Activity at PAR Technology

In other news, CFO Bryan A. Menar sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $35.53, for a total value of $230,945.00. Following the completion of the sale, the chief financial officer directly owned 71,481 shares in the company, valued at approximately $2,539,719.93. The trade was a 8.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Voss Capital, Lp acquired 146,789 shares of PAR Technology stock in a transaction that occurred on Tuesday, December 30th. The shares were purchased at an average price of $36.51 per share, for a total transaction of $5,359,266.39. Following the completion of the purchase, 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 196,035 shares of company stock valued at $7,103,730. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PAR. Willis Investment Counsel raised its stake in PAR Technology by 335.6% during the fourth quarter. Willis Investment Counsel now owns 64,595 shares of the software maker’s stock worth $2,344,000 after acquiring an additional 49,767 shares during the period. Harbor Capital Advisors Inc. grew its holdings in shares of PAR Technology by 11.2% during the fourth quarter. Harbor Capital Advisors Inc. now owns 39,920 shares of the software maker’s stock valued at $1,448,000 after purchasing an additional 4,035 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of PAR Technology during the fourth quarter valued at approximately $27,274,000. Central Pacific Bank Trust Division raised its position in shares of PAR Technology by 50.0% during the 4th quarter. Central Pacific Bank Trust Division now owns 3,000 shares of the software maker’s stock worth $109,000 after purchasing an additional 1,000 shares during the period. Finally, Penbrook Management LLC lifted its holdings in shares of PAR Technology by 55.4% in the 4th quarter. Penbrook Management LLC now owns 19,815 shares of the software maker’s stock worth $719,000 after purchasing an additional 7,060 shares during 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.