PAR Technology (NYSE:PAR) Shares Down 5.9% – Time to Sell?
by Kim Johansen · The Markets DailyPAR Technology Corporation (NYSE:PAR – Get Free Report)’s share price fell 5.9% during trading on Tuesday . The company traded as low as $29.08 and last traded at $29.73. 269,560 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 699,932 shares. The stock had previously closed at $31.58.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on PAR shares. Weiss Ratings restated a “sell (d-)” rating on shares of PAR Technology in a report on Monday, December 29th. The Goldman Sachs Group reduced their target price on shares of PAR Technology from $50.00 to $38.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. Needham & Company LLC restated a “buy” rating and set a $55.00 price target on shares of PAR Technology in a research report on Friday, January 9th. BTIG Research reaffirmed a “buy” rating on shares of PAR Technology in a report on Tuesday, January 13th. Finally, William Blair restated an “outperform” rating on shares of PAR Technology in a research note on Tuesday, October 14th. Six 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $64.00.
Get Our Latest Stock Report on PAR Technology
PAR Technology Trading Down 12.9%
The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -12.80 and a beta of 1.35. The business’s 50 day simple moving average is $35.65 and its 200 day simple moving average is $43.19. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.70 and a quick ratio of 1.51.
PAR Technology (NYSE:PAR – Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The software maker reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). PAR Technology had a negative return on equity of 2.56% and a negative net margin of 19.21%.The company had revenue of $119.18 million for the quarter, compared to analysts’ expectations of $112.23 million. During the same period in the prior year, the business earned ($0.09) EPS. The business’s quarterly revenue was up 23.1% compared to the same quarter last year. Research analysts anticipate that PAR Technology Corporation will post -1.47 EPS for the current year.
Insiders Place Their Bets
In other news, major shareholder Voss Capital, Lp acquired 146,789 shares of the stock in a transaction that occurred on Tuesday, December 30th. The shares were purchased at an average cost of $36.51 per share, for a total transaction of $5,359,266.39. Following the transaction, the insider directly owned 3,564,652 shares in the company, valued at approximately $130,145,444.52. This represents a 4.29% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Bryan A. Menar sold 6,500 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $35.53, for a total transaction of $230,945.00. Following the completion of the sale, the chief financial officer owned 71,481 shares of the company’s stock, valued at $2,539,719.93. This trade represents a 8.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders purchased 196,035 shares of company stock worth $7,103,730. 3.70% of the stock is currently owned by insiders.
Institutional Trading of PAR Technology
A number of institutional investors have recently modified their holdings of PAR. Willis Investment Counsel lifted its holdings in PAR Technology by 335.6% in the fourth quarter. Willis Investment Counsel now owns 64,595 shares of the software maker’s stock valued at $2,344,000 after acquiring an additional 49,767 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in PAR Technology by 11.2% during the fourth quarter. Harbor Capital Advisors Inc. now owns 39,920 shares of the software maker’s stock worth $1,448,000 after buying an additional 4,035 shares in the last quarter. SG Americas Securities LLC purchased a new position in PAR Technology in the fourth quarter valued at about $27,274,000. Central Pacific Bank Trust Division boosted its stake 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 acquiring an additional 1,000 shares in the last quarter. Finally, Penbrook Management LLC grew its holdings in PAR Technology by 55.4% in the fourth quarter. Penbrook Management LLC now owns 19,815 shares of the software maker’s stock valued at $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.