PAR Technology (NYSE:PAR) Stock Price Down 6.8% - What's Next?

Key Points

• PAR Technology shares fell 6.8% on Thursday, trading as low as $15.92 amid volume far below normal, signaling a sharp but relatively light-volume decline.
• Recent analyst activity remains mixed: several firms have set price targets in the $16 to $20.50 range, while MarketBeat shows an overall Moderate Buy consensus with an average target of $26.17.
• The company’s latest earnings topped expectations, with EPS of $0.10 versus $0.07 expected and revenue up 19.4% year over year, though PAR still reported negative margins and analysts expect a loss for the full year.

PAR Technology Corporation (NYSE:PAR - Get Free Report) was down 6.8% during trading on Thursday . The company 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 session volume of 1,599,849 shares. The stock had previously closed at $17.06.

Analysts Set New Price Targets

PAR has been the subject of several research analyst reports. Jefferies Financial Group set a $18.00 price objective on PAR Technology in a research report on Saturday, May 9th. JPMorgan Chase & Co. raised 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. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of PAR Technology in a research note on Friday, March 27th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $20.50 price target on shares of PAR Technology in a report on Thursday. Finally, Royal Bank Of Canada set a $16.00 price objective on shares of PAR Technology in a research report on Tuesday, June 9th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $26.17.

PAR Technology Stock Performance

The stock has a fifty day moving average of $15.25 and a 200-day moving average of $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. The company has a quick ratio of 1.83, a current ratio of 2.10 and a debt-to-equity ratio of 0.51.

PAR Technology (NYSE:PAR - Get Free Report) last released its quarterly 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. The firm had revenue of $123.97 million during the quarter, compared to the consensus estimate of $116.88 million. PAR Technology had a negative return on equity of 2.57% and a negative net margin of 16.04%.The business's revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.01) EPS. On average, research analysts anticipate that PAR Technology Corporation will post -0.16 EPS for the current year.

Insider Buying and Selling at PAR Technology

In other PAR Technology news, major shareholder Voss Capital, Lp bought 594,900 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average price of $14.59 per share, with a total value of $8,679,591.00. Following the completion of the transaction, the insider owned 4,675,000 shares in the company, valued at approximately $68,208,250. This trade represents a 14.58% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cathy A. King sold 20,000 shares of PAR Technology stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $15.38, for a total transaction of $307,600.00. Following the completion of the sale, the insider owned 122,919 shares in the company, valued at $1,890,494.22. The trade was a 13.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have purchased 1,069,900 shares of company stock valued at $15,568,965 in the last 90 days. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of PAR Technology

A number of large investors have recently added to or reduced their stakes in PAR. Versant Capital Management Inc increased its stake in shares of PAR Technology by 325.5% during the 2nd quarter. Versant Capital Management Inc now owns 5,110 shares of the software maker's stock worth $89,000 after purchasing an additional 3,909 shares during the last quarter. Bank of America Corp DE lifted its stake in PAR Technology by 4.7% in the 1st quarter. Bank of America Corp DE now owns 118,705 shares of the software maker's stock valued at $1,582,000 after purchasing an additional 5,374 shares during the last quarter. Quantinno Capital Management LP grew its holdings in PAR Technology by 199.8% during the first quarter. Quantinno Capital Management LP now owns 73,935 shares of the software maker's stock worth $986,000 after purchasing an additional 49,276 shares during the period. Progeny 3 Inc. grew its holdings in PAR Technology by 5.6% during the first quarter. Progeny 3 Inc. now owns 2,170,808 shares of the software maker's stock worth $28,937,000 after purchasing an additional 114,500 shares during the period. Finally, ABS Direct Equity Fund LLC increased its position in PAR Technology by 15.4% during the first quarter. ABS Direct Equity Fund LLC now owns 150,000 shares of the software maker's stock worth $2,000,000 after buying an additional 20,000 shares during the last quarter.

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.

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