Cathy King Sells 20,000 Shares of PAR Technology (NYSE:PAR) Stock

PAR Technology Corporation (NYSE:PAR) insider Cathy King sold 20,000 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $15.38, for a total transaction of $307,600.00. Following the completion of the sale, the insider directly owned 122,919 shares of the company’s stock, valued at approximately $1,890,494.22. This trade represents a 13.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PAR Technology Stock Performance

Shares of NYSE PAR opened at $14.52 on Friday. The firm has a fifty day moving average price of $14.04 and a 200-day moving average price of $23.48. 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 stock has a market cap of $599.03 million, a PE ratio of -7.77 and a beta of 1.35. PAR Technology Corporation has a 1 year low of $11.59 and a 1 year high of $72.15.

PAR Technology (NYSE:PAR) last issued its earnings results on Thursday, May 7th. The software maker reported $0.10 earnings per share 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 during the quarter, compared to analyst estimates of $116.88 million. During the same quarter in the prior year, the business earned ($0.01) earnings per share. PAR Technology’s revenue for the quarter was up 19.4% on a year-over-year basis. Equities analysts anticipate that PAR Technology Corporation will post -0.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PAR Technology

Several institutional investors have recently bought and sold shares of PAR. Greenstone Partners & Co. LLC bought a new position in PAR Technology during the fourth quarter valued at $36,981,000. Long Focus Capital Management LLC lifted its position in PAR Technology by 4,210.9% during the third quarter. Long Focus Capital Management LLC now owns 877,575 shares of the software maker’s stock valued at $34,734,000 after purchasing an additional 857,218 shares during the last quarter. SG Americas Securities LLC bought a new position in PAR Technology during the fourth quarter valued at $27,274,000. Bandera Partners LLC bought a new position in PAR Technology during the first quarter valued at $9,331,000. Finally, Capital Research Global Investors lifted its position in PAR Technology by 17.3% during the third quarter. Capital Research Global Investors now owns 3,237,004 shares of the software maker’s stock valued at $128,121,000 after purchasing an additional 476,839 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages recently weighed in on PAR. JPMorgan Chase & Co. began coverage on shares of PAR Technology in a research report on Friday, May 29th. They set an “underweight” rating and a $12.00 target price for the company. Jefferies Financial Group set a $18.00 target price on shares of PAR Technology in a research report on Saturday, May 9th. William Blair restated an “outperform” rating on shares of PAR Technology in a research report on Friday, March 13th. Benchmark dropped 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 report on Monday, March 16th. Finally, Needham & Company LLC dropped their target price on shares of PAR Technology from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, PAR Technology presently has an average rating of “Hold” and an average price target of $28.00.

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.