PAR Technology (NYSE:PAR) Insider Elizabeth Codner Sells 653 Shares

Key Points

• Insider sale: Elizabeth Codner sold 653 PAR Technology shares for approximately $12,596 under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards. She retained 30,789 shares.
• Recent performance: PAR shares traded at $18.32, while the company’s latest quarterly results exceeded expectations, with EPS of $0.18 versus $0.12 expected and revenue up 18.7% year over year to $133.41 million.
• Analyst outlook: PAR has a consensus “Moderate Buy” rating from analysts, with an average price target of $24.61, despite mixed individual ratings and targets ranging from $16 to $30.

PAR Technology Corporation (NYSE:PAR - Get Free Report) insider Elizabeth Codner sold 653 shares of the company's stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $19.29, for a total transaction of $12,596.37. Following the completion of the sale, the insider directly owned 30,789 shares of the company's stock, valued at approximately $593,919.81. This represents a 2.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PAR Technology Price Performance

Shares of NYSE PAR traded down $1.45 during mid-day trading on Tuesday, reaching $18.32. 950,210 shares of the company traded hands, compared to its average volume of 1,423,459. The stock has a fifty day simple moving average of $17.85 and a 200-day simple moving average of $16.11. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.21 and a quick ratio of 1.89. The firm has a market cap of $757.67 million, a PE ratio of -10.41 and a beta of 1.33. PAR Technology Corporation has a fifty-two week low of $11.59 and a fifty-two week high of $48.27.

PAR Technology (NYSE:PAR - Get Free Report) last announced its earnings results on Thursday, August 6th. The software maker reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.06. PAR Technology had a negative return on equity of 1.62% and a negative net margin of 14.52%.The business had revenue of $133.41 million during the quarter, compared to analysts' expectations of $124.66 million. During the same quarter last year, the business posted $0.03 earnings per share. The company's quarterly revenue was up 18.7% on a year-over-year basis. Equities research analysts anticipate that PAR Technology Corporation will post -0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On PAR Technology

Several institutional investors and hedge funds have recently modified their holdings of the business. Stephens Investment Management Group LLC raised its holdings in PAR Technology by 77.9% during the fourth quarter. Stephens Investment Management Group LLC now owns 282,790 shares of the software maker's stock valued at $10,260,000 after buying an additional 123,831 shares in the last quarter. Reinhart Partners LLC. boosted its stake in shares of PAR Technology by 45.6% during the 4th quarter. Reinhart Partners LLC. now owns 1,309,860 shares of the software maker's stock worth $47,522,000 after acquiring an additional 410,183 shares in the last quarter. Rock Creek Group LP increased its holdings in shares of PAR Technology by 316.7% during the 4th quarter. Rock Creek Group LP now owns 250,000 shares of the software maker's stock valued at $9,070,000 after acquiring an additional 190,000 shares during the last quarter. Progeny 3 Inc. raised its stake in shares of PAR Technology by 5.6% in the 1st quarter. Progeny 3 Inc. now owns 2,170,808 shares of the software maker's stock valued at $28,937,000 after acquiring an additional 114,500 shares in the last quarter. Finally, Visionary Wealth Advisors bought a new position in shares of PAR Technology in the 2nd quarter valued at approximately $6,844,000.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Weiss Ratings upgraded shares of PAR Technology from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, August 27th. Royal Bank Of Canada set a $16.00 price target on shares of PAR Technology in a research note on Tuesday, June 9th. BTIG Research cut their price objective on PAR Technology from $45.00 to $30.00 and set a "buy" rating for the company in a report on Friday, August 7th. UBS Group set a $16.00 target price on PAR Technology in a research note on Tuesday, June 9th. Finally, JPMorgan Chase & Co. upped their target price on PAR Technology from $17.00 to $18.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Five 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 company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.61.

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.

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